Knut Rostad, president of the Institute for the Fiduciary Standard, told ThinkAdvisor at the SEC meeting that it is a “catastrophe that will be remembered as black Wednesday.
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Knut Rostad, the president of the Institute for the Fiduciary Standard, said the new SEC rules will give investors a false impression that brokers are being held to higher standards.
Stockbrokers will have to disclose more about conflicts; they won’t have to do more about conflicts under a government plan favored by Wall Street. This is the problem.
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.