Your Reg-BI Briefing – Be Ready. Stay Compliant.
As we all remember, it has been a few years since governmental agencies were working on a new proposal to regulate the financial advisory industry with the best interest of investors in mind.
“Can I wait till the last minute for Reg BI?”
This is the most frequent question I get when it comes to the SEC’s quickly approaching new regulation: Can I wait until the day before? As long as I have a solution by 11:59pm on June 30th, I’ll be alright, right?I totally get it, waiting until the last minute is something uniquely human. I was a master of procrastination in University and it gets addictive. Many might even be thinking there’s still a chance maybe the rule might go away.
3 Reasons RIAs Shouldn’t Wait For a Court Ruling on Reg-BI
With less than 3 weeks until the June 30th Regulation Best Interest compliance deadline, are you one of the RIAs holding their breath to see if it will be stopped? The lawsuits don’t intend to stop Reg BI because it is too strict, though. In fact, they believe the opposite - that it doesn’t go far enough. Their main argument is that the SEC’s new rule does not hold brokers to the same fiduciary standard as RIAs and breaks some of the requirements of the Dodd-Frank bill.
Stay in touch with Plan Sponsors with the Larkspur Executive Mobile App!
Today's release is about mobile apps with tons of new functionalities. With included update notifications and email open rate tracking system this app will become a really valuable tool in the hands of an experienced advisor, who wants to prospect executives with just one click on a smartphone!
How Small RIAs Can Keep Up With Fin Services Corporations
Large businesses are leaving small firms in the dust by implementing technology to meet Regulation Best Interest’s requirements. With less than a month left, I know that I don’t need to remind you that the June 30th Regulation Best Interest Deadline is fast approaching. How firms prepare for compliance may very well set the course for their growth.
The SEC Reg-BI Guidance For Small Businesses
Two things have become more worrying during my Reg-BI research. First, the CRS Form is not cheap to build. Each advisor may well spend an average of 23.77 hours and over $6,000 to build the form.But, the second, more worrying realization is that small firms are not as prepared as larger firms. As a Deloitte survey study found, small financial services businesses lag behind larger firms in their efforts to become compliant with Regulation best-interest.
Understanding the E-Mail Validation feature in Larkspur Executive Pro
When we released the CTML (Customizable Trackable Marketing Letters) in Larkspur Executive, we realized that one criteria, above all others, would be paramount to our client’s success in utilizing this new feature: Our ability to deliver high quality email addresses with low bounce rates. The first task is obtaining emails. This process has evolved over...Read More
Successful Marketing with LE Pro/Platinum
The Basics – For Everyone Not for everyone – But very helpful, even in parts The End One of the most common requests we receive from clients is to share some best practices for using our Larkspur Executive Pro and Platinum products. This blog post will delve into some of the details of what makes...Read More
ESG Remains Resilient During The Pandemic Crisis
ESG Commitment Keeping up with Traditional Investing Shifting from “E” to “S” Is it still ESG if it’s all Tech? Wait and See on ESG Don’t let headlines direct clients The accurate measure of an investment is not just how well it performs relative to its benchmark. The COVID-19 shutdown is the first stress test...Read More
IRA and Rollover Considerations
Reg-BI IRA and Rollover Considerations BDs and RIAs must keep a record of: Less than 2 months to the compliance deadline! Unfortunately, newly unemployed people may be considering rollovers from their company’s 401 (k) to an IRA. During the 2008-09 financial crisis, almost 1 in 5 employers pulled back their matching contributions to 401 (k)...Read More