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5 Ways To Avoid Retirement Rip-Offs

Federal regulators are cracking down on advisers who profit from providing venal advice to retirement savers with new rules that demand that the industry adhere to a so-called fiduciary standard. Officials estimate that imposing this standard, which requires advisers to act in the client's best interest, will ultimately save American consumers $17 billion annually lost to conflicts of interest -- in other words, where the adviser pockets the profit instead of you.

While consumer advocates lauded the soon-to-be-enacted rules on Wednesday, some acknowledged that the battle may not be over. 

Read more on CBS News

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