Recently, you may have heard that financial industry regulators established a new set of rules designed to guide investors who work with an investment professional. This new set of rules is called “Regulation Best Interest” rule, known colloquially as “Reg BI.”1
This rule establishes a series of guidelines about how to meet investors’ best interests. It provides steps for financial professionals to follow in an effort to give investors a higher level of comfort when making decisions. It also outlines strategies that take investors' overall financial situation into account when proposing solutions.
For many investors, such procedures were already in place, and the new rules may not affect our day-to-day practices in ways that you may immediately notice. That said, we would be happy to talk to you about how “Reg BI” might affect your investment strategy and answer any questions you may have about this regulation.
1. finra.org, July 14, 2020
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
What is Reg BI?
| September 16, 2020