Help AARP Close the Loophole on Investment Advice

Millions of Americans depend on 401(k)-style plans for their retirement savings, which often require complex financial decisions.  This often means relying on investment professionals for guidance and advice.  Most professionals do what's right for their clients, but loopholes in the law allow Wall Street to take advantage of investors by recommending investments that may not be in their best interest.  What does this mean?  It's perfectly legal to recommend investments that have high fees and low returns but mean  higher profits for themselves.

This just isn't fair.  Last year alone, hidden fees, unfair risk and bad investment advice cost Americans as much as $17 billion.  AARP believes there should be accountability to protect people who have worked hard to save for their financial future.

Fortunately, the Department of Labor is proposing a new standard that requires anyone who gives financial advice to recommend only those investments that are in the best interest of the client.  This is the standard to which some--but not all--in the investment world are already held.

Even though this seems to be a common sense solution to the conflict of interest that now exists with investment recommendations, many are opposing this opposed rule.  But you as a citizen have the right to provide comments in support of closing the loophole.  To submit comments to the Department of Labor, click here.  You will help millions of other investors receive the peace of mind that you deserve about the investment advice you receive.  To learn more, watch this video:

https://youtu.be/dBs6H1P7Wd0[/youtube]