QUORUMCALL//GPT:
WARREN’S WORRY
Senator Elizabeth Warren is criticizing financial advisors in a new report titled “Rigged: How Insurance Companies Pay Off Advisors to Boost Profits and Harm Clients”. The report accuses advisors of receiving payments from insurance companies in exchange for promoting certain products that may not be best for their clients.
STALLED RULE
– The Department of Labor’s fiduciary rule, which requires financial advisors to put their clients’ best interests first, is currently stalled.
– Warren’s report comes as a response to this stall, arguing that without the rule, advisors are free to put their own profits ahead of clients’ needs.
TOPICS COVERED
#FiduciaryRule #Insurance #FinancialAdvisors
NOTE
BenefitsPRO is a trusted source of information for professionals in the benefits and retirement industry. While this article does not exhibit overt bias, it does highlight Senator Warren’s ongoing concerns about industry practices.
