Monday, March 2, 2015

Evidence from Oregon backs Obama's fiduciary standard for investment advisers

Oregonian
March 1st, 2015

Last week, President Obama jump-started efforts to require all financial advisers to -- gasp -- put their clients' financial interests ahead of their own.
Legally, not all advisers have to do that right now, and that's shaving $17 billion each year, or 1 percentage point, off the returns of Americans' retirement savings, the President's Council of Economic Advisers contends.
The White House pointed to several studies supporting the need for a "fiduciary standard" for those who give retirement advice. Some of the studies come from the University of Oregon Finance and Securities Analysis Center. They focus on one aspect of the President's concern - advisers who have a conflict of interest because they're paid by the investment products they recommend. That ends up harming investors, the studies show - one detailing the experiences of employees in Oregon's university system.

No comments:

Post a Comment

To eliminate spam comments at restricted to registered users. Additionally, all posts are moderated to further prevent spam and off topic discourse. We strive to post all on topic comments.