Will New SEC Regulations Change Anything for Retail Investors?
By Theresa W. Carey
Betterment’s CEO and founder, Jon Stein, agrees with Commissioner Jackson, and is not a fan of Reg BI. Stein says, “Regulation Best Interest will likely hurt retail investors who need quality advice that puts their interests first. Unfortunately, this misleadingly titled rule may best serve the marketing interests of large financial corporations to the detriment of individual investors. It is a gift of sheep’s clothing to the wolves of Wall Street.”
This article originally published June 8th, 2019 on Investopedia