Bloomberg headline: "Retirement Savers Are Getting Ripped Off"
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.