Speaking at the Consumer Federation of America's Financial Services Conference, the commissioner also said more Reg BI data is needed to gauge its effectiveness, but a strong fiduciary standard was critical.
Diachok’s nephew, Ryan Diachok, current president of Geneos, has taken over the CEO duties.
Stephanie Avakian has served as the head of the division for four years, and oversaw investigations into Wells Fargo's supervision of investment advisors as well as the Share Class Selection Disclosure Initiative.
The acquisition, which comes in the wake of the SECURE Act, will bring more retirement services to Raymond James’ 8,200 advisors.
The center will be offering nearly $500,000 across 100 scholarships, 48 of which are new. That is a record number since the program was started in 2016.