Wall Street Fires Back At Obama Over Broker Standards

Most retirement account-holders have little idea whether the person who manages their nest egg is a "fiduciary" or not. But knowing the difference could save the median two-earner family up to $155,000 over a lifetime of investing, according to a 2012 study from Demos, a New York-based public policy group. The subtle distinction has reignited a years-long battle between Wall Street and reform advocates over how to ensure investment advice works for everyone.