At SYNERGY26, SEC and Treasury Leaders Invite RIAs to the Policy Table

Speakers discussed crypto, AI, private markets, and why regulators want more direct input from independent advisors.

Advisors gained rare access to policymakers helping shape the future of wealth management at this year’s SYNERGY26 conference.

Held in Washington, D.C., just blocks from the White House and Treasury Building, the event brought senior government officials, regulators, and advisors together for timely conversations on issues shaping the future of financial advice. The conversations underscored a central message: policymakers want more direct input from RIAs, and TradePMR by Robinhood offers RIAs an opportunity to make their voices heard in Washington.

Dan Gallagher, Robinhood’s Chief Legal, Compliance & Corporate Affairs Officer, a member of the FINRA Board of Governors, and a former SEC Commissioner, set the stage with an energetic call-to-advocacy that touched on timely topics like industry disruption and crypto. He also moderated a discussion with special guest SEC Commissioner Mark Uyeda, who covered the agency’s push to reignite the IPO pipeline and expand access to private markets.

[Hear more: Robinhood's Dan Gallagher Discusses DC’s Regulatory Shift on the Synergize Podcast]

Later, Lucas Moskowitz, Robinhood Markets’ General Counsel and Corporate Secretary, joined Luke Pettit, Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury, to discuss pressing industry issues, including the impact of artificial intelligence and private-public collaboration.

Both sessions underscored a shared commitment between the institutions charged with protecting investors and the independent advisors who serve them.

Here are some of the highlights.

Crypto regulation: What advisors heard from the SEC

One of the SEC’s top priorities is uniformly regulating digital assets, said Uyeda. “We need to have a rational regulatory system for crypto,” he explained, including clearly delineating what is within the SEC's jurisdiction.

For advisors, investing in crypto and staying compliant are not mutually exclusive, Uyeda said. He emphasized the focus on judgment that’s incorporated in advisors’ fiduciary duty. Advisors considering crypto should focus on care, disclosure, ongoing monitoring, and any additional obligations that accompany ERISA assets. “I look at fiduciary duty as a process,” he said.

Gallagher agreed with the assessment. Crypto has been “sort of the forbidden fruit” for the advisory industry, he said. But investors continue to be interested in crypto and advisors need to meet that demand, he said.

Democratize Investing

Beyond digital assets, Uyeda said the SEC is focused not only on public markets and the IPO pipeline, but also on expanding access to private market opportunities that have historically been concentrated among qualified institutional investors.

Part of that push is reducing the “prescriptive requirements” that companies face when they’re deciding to go public, said Uyeda. With more flexible regulations, the SEC is hoping to revive the IPO pipeline.

But before a company even goes public, the SEC is encouraging “vibrant private markets” by lowering barriers to investor participation in early-stage companies, said Uyeda.

“Right now, [private markets are] purely the province of institutional investors who invest through VC funds and other private vehicles,” he explained. “We want to make sure that retail investors have the ability to get some exposure to those types of investments during the growth stage as opposed to just post-IPO.”

Embracing New Technologies

“AI is here,” said Pettit in a conversation with Moskowitz. “It is a technology that is transformative and it is developing across the world, similar to digital assets.”

[Hear more: How Robinhood’s Lucas Moskowitz Sees The Regulatory Road Ahead]

For advisors, new technologies bring new possibilities, while requiring them to rethink their internet infrastructure and stay aware of cyber threats.

“We have seen rapid technological development, and, with that development, government has traditionally been very behind the curve [and] slow to adapt to technologies,” said Pettit. “We're intent on making sure that we have a collaborative relationship.”

While the Treasury coordinates with policymakers and other government agencies, Pettit emphasized the importance of hearing directly from private industry.

Constructive Engagement

The Trump administration is “embracing technological adaptation,” Pettit explained. “New technologies are not shunned or necessarily immediately shut off.”

Along those same lines, Pettit called for more dialogue between advisors and regulators.

“We benefit from having these conversations with firms about different applications that might not be represented by the largest or most vocal firms here in DC,” he said. “Come in. Talk to us. Give us an update on what you guys are doing, what you’re seeing, the benefits and maybe the risks that are presented to your companies.”

For those present, SYNERGY26 offered a convenient forum for approaching officials. But it’s not the only venue for constructive engagement with regulators.

Robinhood has been taking Pettit up on the offer, said Moskowitz, and encouraged advisors to do the same. “We, at Robinhood, have had some of these conversations and they're very productive.”

Gallagher echoed the sentiment. When firms can present clear use cases of new technology or a distinct issue based on real-world knowledge, “regulatory policy will happen,” he said. “Advocating for yourself is hugely important.”

For independent advisors, the message from Washington was clear: engagement matters. By sharing practical examples, client needs, technology use cases, and operational challenges, RIAs can help policymakers better understand how regulation affects the investors and firms they serve.