Some financial advisers can be hazardous to your wealth and retirement. There are something like 1.6 million broker-advisers and agents selling financial products today. President Trump and his Wall Street advisers have said they want to kill a Department of Labor Rule (DOL) designed to protect you. The "best interest" or "fiduciary" rule would have mandated that advisers put your financial interests first on retirement advice and products. While many investors routinely consume junk financial products, in most cases they don't know it, particularly when they are getting ripped off on fees or paying an unnecessary commission.

Source: Forbes February 17, 2017 14:12 UTC