FYI: If only, in turbulent markets like these, you could know your financial adviser will always act in your best interest.
In mid-December, Securities and Exchange Commission Chairman Jay Claytontold the U.S. Senate Banking Committee that investors don’t want brokers or financial advisers to have “hidden incentives or incentives that are clearly inconsistent with making a recommendation that is in the interests of their clients.”
A rule the SEC proposed last year would help bring some of those hidden incentives into the light, although big Wall Street firms are lobbying to water it down.
What about the incentives Mr. Clayton spoke about that aren’t even hidden?
You can spot them in the disclosure brochures that investment-advisory firms file with the SEC, known as Form ADV Part 2. (You should be able to find them for your adviser here.)
Regards,
Ted
https://www.wsj.com/articles/have-i-got-a-fund-for-you-why-brokers-push-some-investments-11546618879?mod=searchresults&page=1&pos=1
