WalletHub.com, a website that allows consumers to write reviews of various financial products, will soon be allowing "Yelp-type" reviews of financial advisors on their web site.
SEC: Investors “unmuzzled”
The Securities and Exchange Commission (SEC), in an Investment Management Guidance Update last week, said financial advisors can feature investor comments in their promotional materials and on web sites such as WalletHub. “The directive effectively serves to unmuzzle consumers, allowing community-based learning to promote improved financial decision-making,” the site said in a statement.
“The SEC's recent guidance represents a major breakthrough for consumers,” said WalletHub CEO Odysseas Papadimitriou,...
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