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04-06-2016, 11:18 PM
As of **w, stock brokers have to put your interests before their own bonuses
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WASHINGTON *— High fees. Conflicts of interest. Inappropriate investments.
The Obama administration is going after a host of perceived rip-offs with the new rules it's unveiling Wednesday for brokers — the men and women who recommend investments for people looking to save for retirement.*
SEE ALSO:*6 ways to finally feel good about money in 2016 (http://mashable.com/2016/01/07/organize-money-2016/)
Previously, brokers who sell stocks, bonds, annuities and other products were required just to recommend investments that were merely "suitable" for a client.*
They'll **w have to meet a stricter standard: They will be considered "fiduciaries." That means they have to act in the clients' best interests above all. Read more... (http://mashable.com/2016/04/06/new-retirement-rules/)
More about 401k (http://mashable.com/category/401k/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Retirement Savings (http://mashable.com/category/retirement-savings/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Financial Advisers (http://mashable.com/category/financial-advisers/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Brokers (http://mashable.com/category/brokers/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://ad.doubleclick.net/ad/mash.to/rss;pos=atf;tag=ad;mtype=standard;type=rss;sz=300x 250;ord=1459970746 (http://ad.doubleclick.net/jump/mash.to/rss;pos=atf;tag=ad;mtype=standard;type=rss;sz=300x 250;ord=1459970746)http://feeds.feedburner.com/~r/Mashable/~4/yWm5MBPVRPo
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WASHINGTON *— High fees. Conflicts of interest. Inappropriate investments.
The Obama administration is going after a host of perceived rip-offs with the new rules it's unveiling Wednesday for brokers — the men and women who recommend investments for people looking to save for retirement.*
SEE ALSO:*6 ways to finally feel good about money in 2016 (http://mashable.com/2016/01/07/organize-money-2016/)
Previously, brokers who sell stocks, bonds, annuities and other products were required just to recommend investments that were merely "suitable" for a client.*
They'll **w have to meet a stricter standard: They will be considered "fiduciaries." That means they have to act in the clients' best interests above all. Read more... (http://mashable.com/2016/04/06/new-retirement-rules/)
More about 401k (http://mashable.com/category/401k/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Retirement Savings (http://mashable.com/category/retirement-savings/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Financial Advisers (http://mashable.com/category/financial-advisers/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Brokers (http://mashable.com/category/brokers/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://ad.doubleclick.net/ad/mash.to/rss;pos=atf;tag=ad;mtype=standard;type=rss;sz=300x 250;ord=1459970746 (http://ad.doubleclick.net/jump/mash.to/rss;pos=atf;tag=ad;mtype=standard;type=rss;sz=300x 250;ord=1459970746)http://feeds.feedburner.com/~r/Mashable/~4/yWm5MBPVRPo