> To be clear, there are upstanding insurers and agents who sell indexed annuities only when appropriate.
There were. Now investors simply cannot tell the difference so for all intents and purposes, there are not. If you're investing through a third party at this point, you're a fool and you'll be taken advantage of. There is no protection other than the law. This article and others should make that clear. Investors need to become experts themselves and learn about what they invest in as well as how to invest. It's a tall order but that's what it takes to not get ripped off now. That's what this administration wanted and that's what they got: a clear path to ripping people off on their retirement savings. What else would one expect from them?
If you advertise you're a fiduciary, you still have a fiduciary duty to customers. Most "retirement planners" or "advisors" (e.g., Edward Jones' franchises) do not advertise a fiduciary duty.
As a consumer, you may have to pay more up front to find a fiduciary-duty adviser, but that is money well spent and quickly pays for itself.
There were. Now investors simply cannot tell the difference so for all intents and purposes, there are not. If you're investing through a third party at this point, you're a fool and you'll be taken advantage of. There is no protection other than the law. This article and others should make that clear. Investors need to become experts themselves and learn about what they invest in as well as how to invest. It's a tall order but that's what it takes to not get ripped off now. That's what this administration wanted and that's what they got: a clear path to ripping people off on their retirement savings. What else would one expect from them?