More On Legal & Compliancefrom The Advisor's Professional Library
- Preventing and Dealing with Client Complaints Although the SEC has not provided specific guidance on how client complaints should be handled, a firms policies and procedures should provide clear direction how to do so, as neglecting complaints can exacerbate a bad situation.
- Meeting and Exceeding Clients and Regulators’ Expectations Although it can be difficult, there are ways for RIAs to meet or exceed client expectations, increase customer satisfaction, and help firms retain current clients and attract new ones.
Here's a breakdown of how, and where, advisors and brokers are registered. The numbers were presented by Melanie Lubin, Maryland's Securities Commissioner, at the ALI-ABA investment advisor regulation conference in Washington in late January.
- 24,481 total advisors are listed on the Investment Adviser Registration
- 10,977 advisors are SEC registered only
- 192 advisors are dually registered with the states and SEC
- 13,312 are state registered advisors
- 1,109 firms are B/Ds and advisors
- 225,000 are B/D reps
- 200,000 reps are also registered as B/D agents
- 4,000 reps are associated with both state and federally registered firms