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Conflicted IRA Advice Widespread as Fiduciaries Lack Oversight, Watchdog Finds
News August 28, 2024 at 02:00 PM
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What You Need To Know
- Lawmakers asked the Government Accountability Office to assess current issues around conflicts of interest and investment advice.
- Conflicts abound among recommedations to retirement investors, the watchdog found.
- IRS needs to implement an audit process for IRA fiduciaries so it can more effectively assess excise taxes for prohibited transactions, GAO suggests.
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