00:00Your financial advisor is legally allowed to sell you products that benefit them more than you.
00:05Under the suitability standard, brokers only need to recommend products that are considered to be appropriate.
00:11This legal loophole allows advisors to ignore superior, low-cost options that offer them much smaller commissions.
00:19They can legally steer your retirement savings into high-fee mutual funds to maximize their firm's revenue.
00:25While a true fiduciary must act for you, a broker only needs a simple, reasonable justification.
00:32This subtle distinction drains billions from middle-class retirements and transfers it directly to the banking giants.
00:38You pay the heavy management fees while they collect kickbacks buried deep within the complex fine print.
00:45The financial system treats your life savings like a retail product instead of a legally protected asset.
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