Retirement Advice Is Looking Shakier Than Ever

Imagine visiting your family doctor because of chest pain. You wouldn’t expect him to treat you himself if he knew that a specialist— a cardiologist, for example — was better suited for the task. You would be particularly outraged if your doctor failed to refer you to the better-trained specialist because he wanted to line his own pockets.

The National Association of Insurance Commissioners, which sets standards for the industry, has essentially sided with the hypothetical self-interested physician and not the consumers it is supposed to protect.