Life Insurance Quotes

Regulations address investment brokers' advice

06/30/11

In the wake of the stock market crash many investors are looking for safer places to put their money. Making a sound investment may begin with trusting the right person. However, many don't know Wall Street brokers are not held to the same standard that Registered Investment Advisers are.

By law RIAs have to put their clients' interests before their own and they must disclose any conflicts of interest. Broker-dealers are allowed to give advice that also helps put money in their own pockets

In an effort to hold brokers to a higher standard, the Dodd-Frank Wall Street Reform and Consumer Protection Act was introduced to Congress this year and it creates a new independent watchdog for American consumers. The bill aims to ensure that individuals get the clear and accurate information they need to shop for mortgages, credit cards and other financial products, while protecting them from hidden fees, abusive terms and deceptive practices.

Experts believe that another financial meltdown could happen at any moment, so diversifying investments into annuities and other long-term financial areas can help protect retirement fund. Planning for the worst can help people make smart investment choices.  

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