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Bill Would Bind Financial Planners To Ethical Standards

Among bills moving from committee to the floor in the Nevada Legislature is one that would broaden the base of professionals considered financial planners under the law and bound to certain ethical standards.

The Nevada Independent reports Senate Bill 383, sponsored by Democratic Senate Majority Leader Aaron Ford, would include broker-dealers and financial advisers under the state’s definition of “financial planner.”

A related law says financial planners have a fiduciary responsibility to work for their clients’ best interest and be transparent about any benefit they receive from a client’s choice to follow their advice

Nikole Robinson Carroll is KNPR's Morning Edition host. You can hear her every morning from 5am until 10am on News 889. She also produces segments for KNPR's State of Nevada.