Effects of Conflicted Investment Advice on Retirement Savings

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By Jason Furman (ed)
Year: 2015
Pages: 31
Binding Paperback
ISBN 978-1-4578-6717-0

Product Code: 1457867176

Description

Today most Americans participating in a retirement plan at work are covered by a defined contribution plan, such as a 401(k). Defined contribution plans and IRAs are linked as the majority of money flowing into IRAs comes from rollovers from an employer-based retirement plan, not direct IRA contributions. The decision whether to roll over oneäó»s assets into an IRA can be confusing and the set of financial products that can be held in an IRA is vast. This report examines the cost of conflicted investment advice and its effects on Americanäó»s retirement savings, focusing on IRAs. Investment losses due to conflicted advice result from the incentives that conflicted payments generate for financial advisers to steer savers into products or investment strategies that provide larger payments to the adviser but are not necessarily the best choice for the saver. Figures and tables. This is a print on demand report.

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