Regulatory Reform: Will You Be A Fiduciary?

Blaine Aikin
09/18/09 4 PM EST

Regulatory reform is coming for financial advisors. In documents submitted to the Senate Committee on Banking, Housing, and Urban Affairs earlier this year, SEC Chair Mary Shapiro said the agency anticipates "harmonizing investment advisor and broker dealer obligations." And in a June 17, 2009 white paper, the Obama Administration proposed requiring a fiduciary standard of care for brokers, a move initially applauded by the Financial Planning Coalition, but which risks "watering down" the fiduciary standard.

What can you expect in coming years? Will your regulatory compliance costs go up? Will being a fiduciary mean less than before? How will fee-only RIA's be able to differentiate themselves from fiduciary brokers who also accept commissions? If you are a broker, will you even be able to accept commissions? How will this affect your fiduciary responsibility?

Blaine Aikin, president and CEO of fi360, will answer these questions at this week's session of the Financial Advisor Webinar Series. Fi360 provides training, tools, and resources to promote fiduciary responsibility and improve the decision making processes of investment fiduciaries. 


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