Awhile back, Clark talked about the “Merrill Lynch” rule. The financial industry had gotten the SEC to adopt a rule that basically lets brokerage firms and financial houses off the hook for putting you into risky investments. Well, that is about to change. Clark has great news regarding this long-standing rule, which basically causes clients to lose money and fattens the firm’s wallet. A Supreme Court ruling has just been issued, which requires firms to put your money in investments that benefit you and not them. Until now, the only requirement of firms was that recommendations be “suitable” for the client. That essentially means that an investment is appropriate for the client’s age, but that’s it. It didn’t matter if the investment is the worst fund in existence. And the salesperson handling the money often got free trips or money in return. That is no longer allowed and we’ll keep you posted on any appeals that occur.