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.
- Client Commission Practices and Soft Dollars RIAs should always evaluate whether the products and services they receive from broker-dealers are appropriate. The SEC suggested that an RIAs failure to stay within the scope of the Section 28(e) safe harbor may violate the advisors fiduciary duty to clients, so RIAs must evaluate their soft dollar relationships on a regular basis to ensure they are disclosed properly and that they do not negatively impact the best execution of clients transactions.
In last week's holiday-shortened week, the Dow rose 0.8%, the S&P 500 rose 3.8%, and the Nasdaq rose 4%. The S&P has now risen 26.6% since its low on March 9. Stocks were helped in the financial sector by Wells Fargo's report of record earnings and Lincoln Financial's announcement that it was repaying $500 million in debt.
Likely to be moving the markets this week is the busy season for corporate earnings, especially for banks. Those closely watched include Goldman Sachs on April 14, Charles Schwab on April 15, BlackRock and JPMorgan on April 16, and Citigroup on April 17.