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As you have become closer to retirement age, you have upped your investing game. With a stockbroker’s help, you have been aggressively investing over the last five years, trying to take advantage of a strong economy. You’ve seen your investment grow overall, but...
If you rely on someone to manage your investment portfolio, then you should understand the basic concept of “fiduciary duty.” A professional with a "fiduciary duty" must always act in their client's best interests and is liable if they do not. But there are some...
Retirees and older individuals face unique financial challenges as they head into their golden years. The goal for individuals or couples is to retire with enough money to live on, but there is no telling how long that needs to be. They also want to enjoy the...
You chose your broker because you wanted an experienced guide to building your investment portfolio. However, some brokers may not uphold their professional duty when managing your account. What signs indicate that your stockbroker has mismanaged your account? Has...
Allowing someone to manage your money requires a great deal of trust. When you place your investments in a broker’s control, they must manage them responsibly to earn your confidence. Yet, your broker may have made mistakes that led to significant losses for your...
On April 6, 2016, the same day the U.S. Department of Labor issued its new fiduciary rule, the White House set forth the reasons for and implications of it, including the following: "Middle Class Economics: Strengthening Retirement Security by Cracking Down on...
In the spring of 2016, the Department of Labor and the White House announced dramatic changes in the obligations of brokers in retirement accounts. A month before the April 2016 announcement, at SIFMA's 2016 Compliance & Legal Society Annual Seminar, the...
A fiduciary duty means that when a broker makes a recommendation to the customer, the broker's motivation must be in the customer's "best interest". For most brokers, that is their motivation. Where it is not, trouble can ensue. The extent to which such a duty...
