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February 24, 2015

Here's what could change under Obama's retirement adviser proposal

By MARCY GORDON
AP Business Writer

WASHINGTON — After years of a Washington dispute over investment advice, the Obama administration is proposing tougher restrictions on brokers who manage Americans' retirement accounts. The change would put brokers — who sell stocks, bonds, annuities and other investments — under the stricter requirements for registered financial advisers.

That could alter the types of investments a broker recommends to you for your retirement account. Their advice could move away from riskier investments. And a broker may have to tell you when they have a conflict of interest regarding a financial product — like receiving fees — that could prevent them from putting your interest first in recommending it.


 
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