What you need to know

Regulation Best Interest (Reg BI) is a financial advice reform package adopted by the U.S. Securities and Exchange Commission (SEC), to take effect June 30, 2020. It is aimed primarily at Brokers to reduce consumer confusion around their role and how it is different from Registered Investment Advisors. A 2010 CFA survey of 1,000+ investors found that two out of three consumers thought that Brokers have a “fiduciary duty,” to always act in their best interest. They do not. Only Registered Investment Advisors (RIAs), like Moneta, do.

Financial Advisor firms generally fall into two major categories, Registered Investment Advisors (RIA) and Brokers. Both can offer financial advice but differ vastly in how they are regulated, what they offer, how they service your account, and how they are compensated. It’s important to understand the difference and the right fit for you.

Download PDF

To request a printed copy of Moneta’s Client Relationship Summary, email FormCRS@MonetaGroup.com.