The Best Interests Advice Standard

Under prevailing rules and regulations, investment “advisors” need only provide you recommendations that are suitable. Imagine this for a moment: You would never ask a lawyer, an accountant or a doctor if the advice they were giving you was in your best interest or merely suitable. You rightfully assume it. But sadly, investors are being asked to make this distinction today with their financial advisors. And sadly, most retail investors don’t have the tools to evaluate the...