department of labor

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Sen. Warren receives award for significant work on financial security issues impacting Americans age 50+
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Measure Would Protect Retirement Investors and Savers from Conflicts of Interest
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Measure Would Protect Retirement Investors and Savers from Conflicts of Interest
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Measure Would Protect Retirement Investors and Savers from Conflicts of Interest
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The following press release was issued by AARP on Tuesday, June 16.
Annie Mae Holt
AARP volunteer activist Annie Mae Holt of Detroit authored the following opinion piece on raising standards for financial advisers to retirees:
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You’ve w orked hard to save for retirement and you deserve a financial advisor who works just as hard to protect what you’ve earned. Right now, loopholes in the law allow bad-actors in the financial industry to provide retirement savings “advice” based on what’s best for their pocketbook, not yours. The result? They can recommend investments with higher fees, riskier features, and lower returns because they earn more money, even if those investments are not the best choice for you. Bad advice is wrong, and it is costing Americans up to $17 billion per year.
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from the AARP Media Relations Office
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