DOL fiduciary rule trips up robo efforts at BlackRock, Schwab

Plus: Measuring Jim Cramer's performance, personal finance myths, and Social Security misconceptions

MAY 13, 2016

By Jeff Benjamin

The DOL fiduciary rule is throwing a wrench into the robo-advice efforts at BlackRock and Schwab. Some robo advisers may need to substantially change their business practices and how they operate.
Jim Cramer, the TV personality known for rolling up his sleeves, honking silly horns, and analyzing stocks between commercials, is apparently less impressive when it comes to managing an actual portfolio. The “Mad Money” host, who's TV persona was air-brushed into the form of George Clooney for the new movie “Money Monster,” has been losing ground to the S&P 500 Index. Since 2001, investors would have been better off in the S&P 500 Index than in Mr. Cramer's Action Alerts Plus portfolio.
Eight urban myths of personal finance. You don't need to start saving for retirement until you're 40.
The Seven most common Social Security misconceptions. Your decision to file only affects you.