Bloomberg headline: "Retirement Savers Are Getting Ripped Off"
Synopsis:
The year we retire might be the only time some investors ever get investment advice.
US Department of Labor says "sales of just one type of product, fixed-index annuities, chip away as much as $5 billion from retirees’ savings each year."
The article goes on to suggest advisors should clearly state whether they're acting as a fiduciary when recommending an annuity.
Note: Alpha Financial acts as a fiduciary at all times when providing financial planning and financial advice. It would be very rare for us to recommend an annuity, and as fee-only advisors, we never get compensation or commission from any products we recommend for our clients.
