September 2020 NAPFA Advisor Magazine - Full Issue-September 2020 NAPFA Advisor Magazine

September 2020 NAPFA Advisor Magazine - Full Issue

Pdf Summary

Public policy issues, such as federal fiduciary regulations like SEC Reg BI and Form CRS, along with the Department of Labor Fiduciary Rule, are impacting the financial planning profession. These regulations require broker-dealers to act in the best interest of clients and provide customer relationship summaries, while the Department of Labor's rule aimed to expand fiduciary responsibilities for advisors. However, the rule was vacated in 2018, and a new rule allowing retirement advisors to receive commissions was proposed in 2020. Financial advisors need to stay informed and advocate for the profession and a strong fiduciary standard.

Keywords

public policy issues

federal fiduciary regulations

SEC Reg BI

Form CRS

Department of Labor Fiduciary Rule

financial planning profession

broker-dealers

best interest of clients

customer relationship summaries

Department of Labor