On Monday October 25th, the Department of Labor delayed implementation of an investment advice rule that was supposed to be set in December, which is now allowing the financial industry additional time before having to implement these new changes into their compliance routines. The new fiduciary rule for retirement accounts that was approved by the…
A new study in the Journal of Finance has found that conflicts of interest in 401(k) plans can lead to serious losses for individual investors. More specifically, the 2,500 funds surveyed were less likely to eliminate underperforming funds that were their own rather than another provider’s fund. This can be very costly to retirement savers….
In his song “Real Friends” musician Kanye West raps, “Real friends. It’s not many of us. We smile at each other. But how many honest? Trust issues.” West wonders whether those around him are there because they really have his best interests at heart, or if they only care about him for his money. Given…