On Feb. 23, 2015, a somber President Barack Obama stood behind the podium at the AARP Headquarters in Washington, D.C., and stated, “There are a lot of very fine financial advisors out there, but there [are] also financial advisors who receive back-door payments or hidden fees for steering people into bad retirement investments that have high fees and low returns.” He continued with, “They might even recommend investments with worse returns simply because they get paid to recommend those products.
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