In a report released last month, the White House used research compiled by Jonathan Reuter, associate professor of finance in the Carroll School of Management, to discuss the conflicting advice that many investors receive regarding 401(k)s. The White House is concerned that financial advisors receive commissions off the fees that mutual funds collect from investors.
In an interview with the Office of News and Public Affairs, Reuter discussed his research. Approximately $17 billion is lost due to conflicting advice each year, he said.
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