ProVise has $1.14 billion in assets under management while Sullivan Bruyette Speros & Blayney has $2.75 billion.
Peter Thatch, the director of retail product management and strategy at the American Funds/Capital Group, said the Securities and Exchange Commission is years away from adopting uniform fiduciary rules, but financial companies need to be sure they don’t box themselves in now and will need to be ready when it happens.