The COVID-19 pandemic and its related disruption have led to a period of deep uncertainty. As market volatility has triggered economic anxieties, investors have been seeking financial advice, education and guidance in greater numbers.1
Research shows that those who receive financial advice are more likely to stay on track with their long-term investing strategies.2 And now, new regulations enacted by the Securities and Exchange Commission—most notably, the new Regulation Best Interest (Reg BI)—will heighten the obligations of financial professionals who offer advice.
- People want advice, and research shows they’re better off when they get it.
- What is Reg BI? And what does it mean for retirement plan participants and sponsors?
- Important questions you may want to ask a potential retirement plan provider about Reg BI.
- Empower’s approach to helping people navigate Reg BI and get the advice they need.