Proposed rules will hold stockbrokers and other investment advisers to a tougher standard that the U.S. government thinks will protect savers.
I know nothing about cars. Short of becoming educated about modern fuel-injection engines, I walk into service stations like a willfully ignorant lamb. It’s all a vast mystery, and I’m surprisingly OK with that. Thus far, it’s worked out well — my car runs. Case closed.
It’s much more difficult to gauge service on products that are more abstract than cars. Things such as 401(k)s, individual retirement accounts, taxable brokerage accounts and the universe of investment options therein can be confusing. Not only that, the people paid to service these accounts, financial advisers, may benefit from the confusion.