The Department of Labor’s fiduciary rule was struck down earlier this year and the industry faces potential fiduciary standards from the Security and Exchange Commission. In the midst of this turmoil, financial firms continue to abuse their clients. Roughly one week after the U.S. Fifth Circuit Court of Appeals affirmed the March 15th decision to vacate the DOL rule, Morgan Stanley agreed to pay $3.6 million in fines related to brokers’ misappropriation of client funds.
If you are offered an early retirement package from your employer, numbers should not be the only factor in your decision to accept or decline. A detailed assessment with your financial professional will be vital to determining the optimal course of action.
This week we’re reading about the market volatility, or lack thereof, and investors’ response to this. Also, a look at probation for Wells Fargo after its dishonest sales practices. Should the former CEO be held accountable?