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A new rule could make it harder to figure out if your financial advisor is on your side

A new rule could make it harder to figure out if your financial advisor is on your side

Finance
Carlina TeterisThis summer, it may become more difficult for investors to determine whether a financial advisor indeed has their best interests at heart.Starting June 30, financial advisors who are affiliated with broker-dealers legally will be required to place clients' interests first when they give financial advice.This rule, which was handed down by the Securities and Exchange Commission and is known as Regulation Best Interest, requires firms to disclose and mitigate conflicts of interest.Here's the complexity for clients: Not all financial advisors are subject to it.Even after it takes effect, different standards will apply to these professionals based on whether they collect commissions and which regulatory bodies oversee them –  the SEC, the Financial Industry Regulatory ...
For millions of Americans, the coronavirus pandemic will make retiring harder

For millions of Americans, the coronavirus pandemic will make retiring harder

Finance
Labor economist Teresa Ghilarducci began studying retirement in 2008, when the Great Recession was making it impossible for millions of Americans to retire. "The phenomenon of Granny working in McDonald's really started to ramp up," said Ghilarducci, who leads the Retirement Equity Lab at The New School in New York. Yet, as bad as it was then, she sees the current Covid-19 recession making life even more uncertain and even more difficult for those in their 50s, 60s and 70s. By her calculations, the pandemic will force another 3.1 million older workers into poverty in their retirement, with many forced to choose between their health and their need for a paycheck.CNBC spoke with Ghilarducci about why older Americans are particularly vulnerable to this recession, and what the p...
As CO2 levels continue to rise, it will get harder to think clearly and make decisions

As CO2 levels continue to rise, it will get harder to think clearly and make decisions

Science
April 22 (UPI) -- As carbon dioxide levels in the atmosphere continue to increase, scientists expect humans to struggle with strategic thinking and complex decision making. New models suggest CO2 levels in indoor environs, whether at work or at home, will reach 1,400 parts per million -- three times the current amounts of carbon dioxide found indoors. As a result, the human brain will struggle to get the amount of oxygen necessary for high-level thinking. Researchers shared their analysis in a paper published this week in the journal GeoHealth. "It's amazing how high CO2 levels get in enclosed spaces," Kris Karnauskas, an associate professor of atmospheric sciences at the University of Colorado, Boulder, said in a news release. "It affects everybody -- from little kids packed into classr...
US companies in China are finding it harder to make money

US companies in China are finding it harder to make money

Finance
A cleaner walks past a Microsoft office building in Beijing.Greg Baker | AFP | Getty ImagesAs growth slows in the world's second-largest economy, U.S. companies are looking for more reasons why they should stay and invest more.Many members of the Beijing-based American Chamber of Commerce in China said they are earning less in the country, and that market access remains an issue in certain industries despite recent Chinese government efforts, according to a survey conducted late last year and released Tuesday. "More than half of the respondents from the Technology sector, a sector in which American companies should be highly competitive, say they are treated unfairly," the report said, citing responses from more than 370 company representatives."More than half of our members say they ...
It may get harder for consumers to tell how some financial advisors get paid

It may get harder for consumers to tell how some financial advisors get paid

Finance
Thomas BarwickThe group that oversees certified financial planners is making it tougher for consumers looking for a new advisor to find out how a particular CFP gets paid.  The CFP Board of Standards — a nonprofit that governs the CFP designation, held by 86,000 financial advisors in the U.S. — erased a part of its consumer-facing website that allowed the public to search for a financial planner based on compensation type.Consumers had previously been able to filter results in the group's Find A CFP Professional search service based on whether an advisor receives commissions, a flat fee or a combination of commissions and fees.Fee-only planners are fiduciaries, meaning they must put a client's interests first when making a recommendation. They charge a flat fee for financial...