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Investment advice

Time to close Wall Street’s “Retirement Advice” loophole

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There is a loophole in the rules that govern Wall Street brokers and financial firms that provide retirement investment advice that can drain away thousands, or even tens of thousands, of dollars of hard-earned savings from a single retirement account.

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Public Interest Organizations Join Forces to Protect Americans’ Retirement Savings

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SaveOurRetirement.org will educate workers and retirees about the “Retirement Advice Loophole” – and mobilize public support to close it

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FSI to fight rollout of auto IRAs

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Independent broker-dealer group says automatic retirement savings plans pose competition to financial advisers

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Financial planning issues wrapped into government spending bill?

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Members of Congress are considering adding provisions to the government spending bill that would impact at least two crucial issues for financial advisers: the DOL's action on fiduciary duty and the right of pensions to cut benefits.

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The Most Important Symbol for Investors Is 'DOL'

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Many investors are glued the financial news, tracking the latest reports about interest rates, earnings reports and stock movements. They believe this kind of intense focus will help them maximize returns. They couldn't be more wrong.

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Broad-Based Coalition Pushes For Updates To Retirement-Plan Advice

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A broad-based coalition of labor unions and consumer protection groups has reiterated its support for the U.S. Department of Labor (DOL) to update, strengthen and clarify rules around advice provided to workers saving through retirement plans.

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Retirees Suffer as 401(k) Rollover Boom Enriches Brokers

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Kathleen Tarr says AT&T Inc. employees looked to her as “their de facto 401(k) expert.” Visiting their homes and offices, she advised them on their retirement plans as they called up balances on computer screens. Actually, Tarr worked for Royal Alliance Associates, a brokerage firm owned by insurer American International Group Inc. (AIG).

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The Best 401(k)s Set a Higher Bar for Others

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Every December for five years, BrightScope, a financial research firm based in San Diego, has published a list of the top 30 401(k) plans. These standouts provide, among other qualities, generous company contributions, quick access to that corporate money, low fees and a wide array of investment options.

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Fiduciary Rules, Lifetime Income Illustrations, Disclosures Top Practitioners’ DOL Concerns

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The Department of Labor’s re-proposed fiduciary rule is likely to stir up a great deal of practitioner interest in 2014, along with the department’s projects on disclosures and lifetime income illustrations, practitioners told Bloomberg BNA.

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Timing of Fiduciary Rule for Retirement Plans Questioned

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If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest.

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