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Thomas Perez

Who’s the Boss? You or Your Broker?

"The traditional way of giving retirement advice is getting retired.

"After a tug of war with the financial industry that has lasted more than five years, the U.S. Department of Labor is moving ahead on rules that will require anyone providing investment advice on your retirement plan or Individual Retirement Account to act in your best interest.

"For brokers and financial advisers — and their clients — the new rules could be the biggest change since stock-trading commissions were deregulated in 1975.