(Bloomberg) -- Investment advisors should act in their customers' best interests, President Obama says. Here's how they don't, and how it can hurt investors.
Right now, only some advisors are fiduciaries, required to put their clients needs first, while many brokers and advisors only need to recommend suitable financial products. On Monday, the White House said it would support a plan to change that.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access