Starting on June 30, the Regulation Best Interest Rule (Reg BI) will set a new standard of conduct for broker/dealers. It requires that a broker/dealer and its associated persons must always act in the best interest of their retail customers when recommending securities or investment strategies involving securities. Let’s explore what Reg BI means for financial advisors, including the requirements for complying with this new rule.

Networking with other advisors is undoubtedly a great way to improve your practice. After all, no one has a lock on all the good ideas. And it can be surprising—even humbling—to learn how others approach managing the many facets of their business. But in today’s socially distant environment, chances are you won’t be introducing yourself to people at live conferences any time soon, or even meeting over coffee with as much regularity. So, embracing networking in a virtual world, despite its challenges, is essential.

The coronavirus pandemic has created unprecedented challenges for just about all of us. And communicating with clients in changing times like those we’re living through—marked by fear, economic uncertainty, and potential market volatility—can be downright daunting for financial advisors. But, of course, that’s exactly what you need to do. In fact, an effective approach to keeping the lines of communication open between you and your clients may be the single most important way to make a difference and ensure the long-term health of your practice. This doesn’t mean you have to come up with all the answers. It does mean you should do everything you can to be that much-needed voice of stability to provide reassurance and solidify trust.

What if something happens to you? We all know that unexpected events—such as accidents, serious health problems, or even death—happen every day. The global coronavirus pandemic has certainly driven home this sobering lesson. Eventually the question “What if?” will become “What now?” when a crisis occurs.

Does success create happiness? In these uncertain times, advisors—and our clients—may be questioning ourselves more than ever. And it turns out, we just might have it backwards. According to Shawn Achor, positive psychology advocate and author of The Happiness Advantage, it’s actually our positive emotions, mental health, and resilience that drive our success.