David Fleer
Bristlecone Value Partners, LLC
12301 Wilshire Blvd., Suite 320
Los Angeles, CA 90025 USA
Work 1-877-806-4141

Raising the Bar on Financial Advice

March 20th, 2015

Speaking at an AARP event in late February, President Obama proposed tougher standards for brokers and other financial “advisors” who oversee retirement accounts such as IRAs and 401ks.  Specifically, the White House wants brokers–whose investment recommendations are currently subject to a suitability standard–to instead be held to a more rigorous fiduciary standard.  The president’s choice of audience was deliberate: Americans currently have an estimated $7 trillion in IRA accounts, and that number is expected to grow rapidly in the coming years as new retirees “roll over” assets from their company-sponsored retirement plans. Read the rest of this entry »

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