Merrill Lynch's U-turn on mandatory fee-based accounts proves not every investor wants handholding
September 06, 2018 at 09:35 AM EDT
The Obama-era fiduciary rule, intended to protect retirement investors, had many good elements, but it was doomed to fail by forcing all accounts to be treated similarly. Merrill Lynch's recent about-face on its push for mandatory fee-based accounts proves clients want choices.