Republicans and some Democrats defend financial advice that’s not worth getting

The president issued a proposed rule requiring all financial advisors to have a fiduciary responsibility to the people they’re advising. This is a no-brainer, even if it’s only a small step toward addressing conflicts of interest in retirement saving. Specifically, Secretary of Labor Thomas Perez and Assistant Secretary Phyllis Borzi hope to curb the practice of inducing people to roll over 401(k) funds into high-cost IRAs...
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