Co-Authored by Perry Goldschein, a corporate sustainability consultant, and former environmental and regulatory lawyer, with
If you get advice from a professional like a doctor, a lawyer or a financial professional, you should be able to rely on knowing that it will always be in your best interest. Unfortunately, that is not always the case when it comes to financial advice.
Without a single Committee Democrat voicing support, the House Education and the Workforce Committee reported out two bills that purport to require all financial professionals to act in the best interests of their customers when providing retirement investment advice.
Millions of Americans don't even know they're getting ripped off.
One of the perplexing mysteries in the debate over the Department of Labor's fiduciary rule is why securities industry representatives are so adamantly opposed to the DOL rulemaking based on the exact same principles.
Cruz trounced the outsider candidates, while Rubio trampled some guy polling in the single digits.
The senator is fighting back against special perks that can encourage financial advisers to push clients into bad investments.
Litan seeks to paint himself as the victim, but the real victim here is objective scholarship. Not to mention the millions of working families and retirees who would be left without meaningful protections when they turn to financial professionals for retirement investment advice.
It's been a tough week for Beltway insiders.
Robert Litan and Hal Singer are certainly entitled to their opinions, no matter how ill-informed. And industry has every right to seek to influence regulations by hiring "experts" to help them make their case. But no one should mistake what Litan and Singer have published for actual economic analysis.