There have been many restrictions placed on the normal rhythms of life in response to the COVID-19 pandemic. The interactions we typically take for granted such as going to restaurants, spending time with friends, working out at the gym, and traveling on vacation have all been curtailed in an effort to tame the pandemic.
While there is plenty of economic upside to the specialization required of modern life, one downside is that hyper-specialization can lead to siloed thinking. For a psychologist like me, the hammer that I have (an understanding of the power of behavior) can lead me to see behavioral “nails” everywhere, even in places where they may not truly exist.
With the adoption of Regulation Best Interest (Reg BI), the US Securities and Exchange Commission (SEC) is imposing an enhanced standard of conduct on broker-dealers and their associated persons when making recommendations to retail customers.
While crisis-level activity has largely subsided, advisors remain very active relative to "normal" levels of activity we saw during the bull market run.