Speaking at a conference in Washington, Securities and Exchange Commission Chairman Jay Clayton said a regulation requiring brokers to act in the best interest of clients would address the ability of brokers to use titles such as “financial adviser.” Some investor advocates say the title misleads clients into thinking that brokers have the same legal duties as money managers, who must put their clients’ best interest first.
via What’s in a Broker’s Name? SEC to Address Titles Used When Advising Investors – WSJ
