October 9, 2019

Lundy and Reish Speak with Financial Advisor about the SEC’s Latest RIA Guidance

Jim Lundy and Fred Reish were quoted in the Financial Advisor article “Advisors Can Expect SEC Scrutiny of 'Low-Cost' Strategies, Rollovers, Attorneys Say.”

Lundy and Reish told the industry publication that if an advisor is not going to recommend the lowest-cost product or strategy available to meet a client’s investment objectives, they should be prepared to defend that decision to SEC examiners.

The two attorneys and other members of Drinker Biddle’s Best Interest Compliance Team are unpacking Regulation Best Interest and the SEC’s most recent RIA guidance to explain to their advisor clients not only what the new conduct rules say, but also how they are likely to be applied by examiners when the regulations go live in June.

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