As President of PIABA, the Public Investors Arbitration Bar Association, Joe Peiffer has led the fight for federal regulations that would require stockbrokers to place their retirement clients ahead of their own self-interests. That dream may become a reality soon.
The Department of Labor has proposed new rules that would make stockbrokers who handle retirees’ money fiduciaries of their clients. In other words, the stockbrokers would need to put retirees’ interests in having money for their retirement over the brokers’ desire to make commissions. Many retirees already believe that this is the case, but it is not.
If you are retired and are concerned that your financial adviser is putting his or her interests ahead of your own best interests, please call please call Peiffer Wolf Carr & Kane for a free, no-obligation consultation.