What Reg BI Means for Financial Advisors

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Starting on June 30, the Regulation Best Interest Rule (Reg BI) will set a new standard of conduct for broker/dealers. It requires that a broker/dealer and its associated persons must always act in the best interest of their retail customers when recommending securities or investment strategies involving securities. Let’s explore what Reg BI means for financial advisors, including the requirements for complying with this new rule.