fiduciary
Is Nationwide on Your Side? Not Everyone Thinks So
11:00AM 1/23/2010
Nationwide is "on your side" as the financial services giant's corporate slogan goes, but not everyone thinks so. A class action law suit charges Nationwide with accepting "revenue sharing payments" from mutual funds as the cost of being included as investment options in its retirement plans.
Investors, take note. Many believe John Hancock and other 401 (k) providers like it are "fiduciaries," meaning they ensure investment options available to participants are the best -- and they put the interest of the plan participants above all others. That's not always the case.
This post is part of a series where personal finance expert Dan Solin provides 10 insurance tips no one else will tell you. See all 10, plus one bonus tip!Whose interests does your insurance agent represent?You might think the answer is obvious: Yours, of course. Not so.The issue is whether or not...
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