Advisor Group CEO praises SEC best interest proposal

The SEC’s proposed Regulation Best Interest may require further changes at independent broker-dealers, but, at first glance, the CEO of one of the largest firms views them as welcome developments.

“There are enough special interest groups out there that the SEC can’t come up with a rule that’s just a nod to the industry,” says Advisor Group CEO Jamie Price. “I think they, generally speaking, wanted to do something that was meaningful for clients and that could work for the industry. We think the early read is they probably did a pretty good job of both.”

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