U.S. News & World Report: When Salespeople Call Themselves Advisors

Jim Lardner of Americans for Financial Reform discusses the challenges investors face when working with advisors who do not have investors’ best interests in mind, often recommending investments that will generate more money for themselves.

Excerpt: Saving for retirement is extra-hard these days, and not just because wages are low and millions of Americans are still struggling to make up for ground lost after the 2008 financial crisis. All too often, the difficulty is compounded by gaps in the rules for the financial professionals who provide retirement-planning advice.

As things now stand, too many of those professionals can present themselves as (and enjoy the benefits of being perceived as) advisors with your best interests in mind, yet go ahead and recommend investments that will generate more money for them, and less for you.

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