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SEC’s Clayton Says Sales Contests Must Die

By Melanie Waddell

Betterment Suggests Changes to Form CRS

CEO Jon Stein of the robo-advisor Betterment urged Clayton in his Aug. 7 comment letter on the advice proposal to make changes to Form CRS, which will provide a summary of the client relationship.

“The commission has, for the most part, identified the key issues that Form CRS should cover, including firms’ differing legal obligations, fee structures and conflicts,” Stein said.

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This article originally published August 22nd, 2018 on ThinkAdvisor