NASAA wants to limit who can call themselves ‘advisors’

November 13, 2024 by Dan Shaw

State regulators are considering new restrictions that would prevent just anyone in the financial services industry from taking on the label “advisor.” And they’re also proposing a new best interest conduct standard similar to the one that now applies to broker-dealers at the federal level.

But before they adopt anything, they want to hear what the industry has to say. 

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Wink’s Moore on the Market: The NASAA wants to dictate who can call themselves an “advisor” or “adviser.”

They purport that only RIAs and IARs should be able to use these titles.

What do you think? -sjm

Originally Posted at Financial Planning on November 5, 2024 by Dan Shaw.