In this Oyster Stew episode our experts unpack what regulators expect and how firms can build strong processes around Reg Bi and account type recommendations recommendations.

· What Makes an Account Recommendation “Best Interest”?

· Balancing Cost and Services.

· Special Considerations in Practice Transitions.

· Avoiding Double Dipping.

· Documentation: Showing Your Work.

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In Part 2 of this Oyster Stew conversation, Ed Wegener continues the discussion with compliance experts Brent Nicks and Len Derus—this time focusing on the most pressing challenges firms face in applying Reg BI and fiduciary duty in practice: documentation, compensation conflicts, and rollover recommendations.

What You'll Learn in Part 2

• Documentation Expectations: When to document recommendations—and when not to—including product complexity, costs, and client-specific factors.
• Supervisory Oversight: Why cookie-cutter rationales can create risk and how firms can monitor for consistency across reps.
• Compensation Conflicts: Practical strategies for mitigating compensation-driven incentives and leveling payouts to reduce bias.
• Rollover Recommendations under PTE 2020-02: How to document IRA rollovers, justify added costs, and align practices with both Reg BI and fiduciary standards.
• Technology vs. Forms: The pros and cons of manual versus technology-driven documentation processes—and how to strike the right balance.
• Training and Monitoring: How tailored training and compliance monitoring help ensure reps are following procedures and avoiding systemic risks.

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!

While the core principles of Reg BI and investment advisor fiduciary duty remain consistent, regulatory expectations continue to evolve through examinations, enforcement actions, and formal guidance.

In Part 1 of this conversation, our experts explore the foundational similarities and differences between Reg BI and fiduciary duty, unpack how regulators are sharpening their focus on documentation, conflicts of interest, and the firm-level processes that shape recommendations.

Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter.

Does your firm need help now? Contact us today!