Hidden Figures
Discount Brokers Act Like Wall Street on Fee Conflicts
This is why investors need a fiduciary rule.
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For those who think a fiduciary-type rule is unnecessary, think again.
The Wall Street Journal reported last week that “advisers at some of the biggest discount brokerage firms make more money if they steer clients toward more-expensive products.” That includes the big three discount brokers, Fidelity Investments, Charles Schwab Corp. and TD Ameritrade Holding Corp.