NEW YORK - For most people saving for
retirement, buying a non-tradeable real estate investment trust that
charges fees and commissions of 11 percent or more doesn't sound like a
good deal.
But for a growing number of stockbrokers in a
corner of the securities industry known as "independent" broker-dealers,
such products are a big part of their income and their firms' revenue.
Many brokers are fuming over a proposed U.S.
Department of Labor rule that would block them from selling any
investment into a retirement account in return for a commission.
Instead, the DOL would restrict a broker's compensation to a fee based
on a financial adviser's hours or a flat percentage of the value of a
retirement account.
Click here for the full article.
Source: NBC News
No comments:
Post a Comment