Whether you and your firm are ready or not, the Best Interest Contract Exemption (BICE) is becoming a reality. The long-in-coming government regulation of how financial advisors provide advice to IRA and ERISA clients is being implemented and the requirements are likely to be put into effect within months. It puts significant conditions on how financial advisors can continue to be compensated on the financial advice they provide.
If you're not clear on the specifics of the regulation or feel that you or others at your firm could use additional information or training, DALBAR offers a comprehensive library of information that can help get you up-to-speed. Check it out.