Food for thought
Consumers seeking investment help are often clueless about the different types of financial services available, experts say. And it's not easy for them to compare advisers and make an informed decision. Unfortunately, the industry and regulators do little to help consumers, the experts say, sparking a call for industry changes.
When you go to an adviser, what do you get?" "You get promises and stories. Some of them are good and true, but how do you know?'While some investment advisers provide performance data, they do it in ways that are a little deceptive.
To help address that issue, a new industry performance standard has been proposed by BrightScope, a provider of independent retirement plan ratings and investment research, and the Spaulding Group, which offers performance measurement products and services. The new standard is supposed to give investors a transparent way to compare and contrast performance.
"This definitely won't happen overnight,"
http://home.topnewstoday.org/home/article/2503807/