How Execs Get Tempted To Choose Bad Worker Retirement Plans

Some Wall Street firms are selling second-rate employee retirement plans to companies by sweetening the deal with benefits for the company decision-makers who select them, writes financial advisor Jonathan Broadbent in the Christian Science Monitor. These plans direct worker retirement money into high-fee, low-service products, but some company executives select them anyway because in exchange they are offered what’s sometimes called “concierge service” financial products – exclusive insurance and investment deals for themselves and their families.