Summary: Which advisors will find themselves best positioned after the fiduciary rule is formally announced? Those who have taken steps already and do so immediately in preparation. Here's what my firm would recommend as a next step before the rule goes in effect. Because I have had this conversation so many times, I created the acronym BASE to keep me on track.
 By waiting until the rule is in effect, advisors are losing a huge opportunity to frame the conversation with their clients. The conversation today can be calm and confident. The advisor can explain the benefits of continuing to work together, while restating his/her value proposition. By waiting, clients may be confused and uncomfortable if they hear anything about the rule from the media, their custodian or friends.”John Anderson, SEI
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