Adam Handler: The New SEC Reg BI Guidance Is Spectacular

Adam Handler is a happy man.

Handler, the vice president of product management at SPS Family, said in an interview last week that living up to the expectations set by the new U.S. Securities and Exchange Commission Regulation Best Interest question and answers document might be challenging.

But he said having stringent, detailed guidance is better than finding out how the SEC interprets the regulations when an auditor comes by.

And the SEC’s answers “are very much in line with what I expected,” Handler said.

What It Means

Some financial services distribution executives think they can live with the new Reg BI guidance.

Adam Handler and SPS Family

Handler, a holder of the Chartered Retirement Planning Counselor professional designation, has been helping SPS Family support its 900 affiliated financial professionals since 2021.

The Ann Arbor, Michigan-based firm is the parent of two broker-dealers, Sigma Financial Corp. and Parkland Securities, and of an RIA, Sigma Planning Corp.