No, New Broker Rules Won't Strand Investors

Wall Street says studies show Obama's fiduciary rule for brokers would hurt lower-income savers. That's not the case.

Another investor, stranded by his broker.

Photographer: Charles McQuillan/Getty Images

Wall Street is wasting no time revving up its lobbying machine now that President Barack Obama has said his administration soon will propose a rule to require brokers to act as fiduciaries when advising clients on their retirement savings. 

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