We are often asked, what objective criteria have been established to evaluate the many different types of representatives and advisers that provide financial services. The supervisory bodies of the securities industry have created a comprehensive set of regulations aimed at protecting investors from wrongful conduct on the behalf of agents, brokers, and investment advisers. Once you read the lead article in the current edition of INVESTMENT QUARTERLY you will be able to answer these questions:
- What is the evolving regulatory framework governing the activities of Investment Advisers?
- What sorts of person or organization can claim the title Investment Adviser?
- Are stockbrokers investment advisers?
- When is a financial adviser a fiduciary [1]?
- What code of ethics applies to Investment Advisers?
Embedded in the discussion is our own compliance strategy, which, if nothing else, will differentiate our firm from the roughly 300,000 individuals who provide some form or other of investment advice. Is it worth skimming through an admittedly dry topic? As they say, knowledge is power. In this case, it is money, too.