Stockbrokers will soon have to disclose more about conflicts of interest that can bias investment advice under a government plan favored by Wall Street.
Important articles on the fiduciary standard. Visit our Must Reads archive page to read older articles.
“With the information required by Massachusetts clients can engage in intelligent conversations with an investment professional and can better comprehend a firm’s value proposition and they can become better educated consumers,” Institute President Knut Rostad said.
Securities and Exchange Commission Chairman Jay Clayton hinted that Regulation Best Interest might be released sooner than expected.
When selecting a TAMP for a client, an advisor should structure their due diligence process to focus on client benefits.
One-page document would crystalize costs highlighted in Form ADV for Massachusetts investors. Knut Rostad praised William Galvin for illuminating fees.
According to Kenneth Corbin’s reporting in Financial Planning, it might. Corbin reports that firms such as Morgan Stanley, Wells Fargo, Schwab, and TD Ameritrade write in comment letters to Nevada the new rule would dissuade their offering their BD transaction services.