It’s something of an open secret that Wall Street is systematically taking advantage of millions of middle class investors saving for retirement through 401(k) plans and mutual funds. Brokers sell what’s best for them instead of their clients. High-fee investment vehicles erode returns. Conflicts of interest pervert the relationship between investor and money manager.
Kathy Kristof, an award-winning journalist for Kiplinger’s Personal Finance and the author of Investing 101 says that ensuring that consumers are well-educated in investment products and strategies has never been more important. In an interview, Kristof discussed a few of the challenges that investors face today.