Forum on Ending the Retirement Savings Drain and Improving Economic Security
Forum on "Ending the Retirement Savings Drain and Improving Economic Security"
The second in a series of forums for the Middle Class Prosperity Project will focus on one of the biggest challenges that Americans face when saving for retirement—financial advisers and brokers who profit from selling lousy products to their customers.
Read Ranking Member Elijah Cummings' Opening Statement here.
A conflict of interest happens when a financial advisor receives backdoor payments and kickbacks for directing their clients into investments that produce lower returns over the course of their lifetime. No one should have to worry that the person advising them on their retirement savings is putting their profits ahead of their clients’ interests. That’s why a strong financial conflict of interest rule is long overdue. It’s time to end conflicted advice and help middle-class families protect the financial future they earned.
Former Pac Bell Employee
Son-in-law of Merlin and Elaine Toffel
Dr. Antoinette Schoar
Michael M. Koerner (1949) Professor of Entrepreneurship and Professor of Finance, MIT Sloan School of Management
CFP, AIF, Founder, Garret Planning Network, Inc
Secretary William Galvin
Secretary of the Commonwealth of Massachusetts
Senior Counselor, Department of Labor