WASHINGTON - Federal regulators are moving to require that brokers provide their customers with detailed disclosures of their potential conflicts of interest when dispensing advice for retirement planning and other investments. They say a stricter standard advanced under the Obama administration should apply to brokers. Americans increasingly seek financial advice to help them navigate an array of options for retirement, college savings and more. Critics of the current system say investors lose billions of dollars a year because of advice from brokers with conflicts. As proposed over a year ago, the SEC “best interest” regulation would require brokers to tell clients how much they collect from recommending products.

Source: thestar June 05, 2019 07:07 UTC