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Friday, February 28, 2020

Does Reg-BI have teeth? Don’t wait to find out…

We are seeing tremendous amount of interest from advisors in RegBIoptimizer. And what is particularly gratifying is that this time people understand that procrastination is NOT a strategy.

RIAs and BDs know that procedures and documentation will be very different post-RegBI, and RegBI Optimizer will help you reach compliance.

Still, some people do prefer to wait and see, and it is important to acknowledge their points. Usually, those who delay preparation for RegBI have two lines of reasoning. Let’s explore them.
RegBI has no teeth. Really?

RIAs and BDs must be compliant by June 30, 2020
The landscape within SEC enforcement may wax and wane, but once the law is on the books, any action you take after June 2020 can retroactively get you in trouble. Imagine a scenario where someone in March 2021 decides to challenge the ‘best interest’ of the rollover you do on July 1, 2020. It seems unlikely now, but the enforcement may become much stricter down the line.

And because regulation was on the books, any action carries potential risks. It is much wiser to be prepared, especially if the preparation is not onerous. And we made it as easy as can be for you to be protected. We at RiXtrema dedicated lots of resources to development and legal advice to create RegBIoptimizer Best Interest Report. We know by experience that some people will procrastinate until June 2020.

Here’s our offer

Hence, we offer you an early bird special deal to sign on at the lower rate. We are including 6 months for free in this deal, so you are not paying for the period between now and June 2020. It is a no brainer. So, those who wait until the last moment will have to pay more or risk being without protection in July 2020.

For any Reg-BI questions, consult our free compliance guide. It’ll get your gears turning toward compliance. 

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