Written by Davina of RebeccaRice.net
• "How much should I have in stocks vs. bonds?"
• "Which mutual funds had the highest returns last year?"
• "How much risk do I need to take to earn the rate of return I need?"
• "What target-date fund should I invest in?"
However, no matter how much money you have to invest in financial service products, Wall Street hopes you’re NOT asking THESE questions:
Wall Street wants you to ask, “What mutual funds do you recommend?” instead of whether or not the advisor works from a fiduciary platform. Recent research estimated that 85 per cent of advisors who teach, sell and advise about retirement accounts do not operate from a fiduciary platform, but rather from a suitability platform. That means that there is no law requiring them to suggest the best choices for you, regardless of their own compensation, your recommendations just need to be “suitable.”