Scottrade and its agents neglected their duty to Massachusetts retirees while focusing on gathering new assets in anticipation of the TD Ameritrade merger.
The founder of MIT’s AgeLab warns that most financial advisors aren’t prepared for the profound changes and challenges that will come with longer-living clients.
It’s not conflicts of interest that push clients into high-cost, high-turnover investments. Their advisors invest exactly the same way, according to a survey of 4,000 advisors and 500,000 clients.
While the regulator expects to fall far short of its goal of increasing exams by 5 percent in fiscal year 2018, it will boost its exam funding by nearly $20 million in fiscal year 2019.