SALT LAKE CITY -- While Congress, the SEC and individual states continue to work out the precise definition of a fiduciary and precisely what his or her requirements will be going forward, RIAs and other financial services professionals still need to take it upon themselves to implement best practices that will ensure they'll be in compliance whenever these new regulations are finalized.
Ron Rhoades, director of research and chief compliance officer at Hernando, Fla.-based Joseph Capital Management, offered up a number of suggestions at the NAPFA National Confererence in Salt Lake City, Utah last week to help financial advisors provide the best possible service to their clients while also protecting them from potential litigation.
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