By webadmin@aflcio.org (Monika Greenhow)
When you pay a financial adviser to help you invest your hard-earned retirement savings, you would assume that they would be required, by law, to have your best interests at heart. But because of loopholes in the rules, advisers can get away with not only putting their own financial interests above that of their clients, but also allows them to take incentives from Wall Street firms to recommend investments that drain funds from ordinary Americans’ retirement accounts through hidden fees and lower returns. The White House Council of Economic Advisers says this costs us $17 billion a year.
Source: AFL-CIO
