More On Legal & Compliancefrom The Advisor's Professional Library
- Best Practices for Working with Senior Investors Securities examiners deal harshly with RIAs that do not fulfill their fiduciary obligations toward senior investors, as the SEC and state securities regulators view older investors as particularly vulnerable and in need of protection.
- 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.
As the fiduciary debate shows unmistakable signs of coming to the fore of the agendas of the SEC and the Deparment of Labor, we are asking advisors to once again have their voices heard in the media and inside the Beltway. The third annual AdvisorOne-fi360 Fiduciary Survey will close on Friday, April 5.
While hundreds of advisors have already participated, we encourage advisors of all business models and affiliations to take advantage of this opportunity to participate in the debate. Respondents can maintain their anonymity in taking the survey, but the findings in aggregate will help inform the discussion on this crucial topic. We want to know, and to publicize, not only what your opinions are regarding a fiduciary standard, but also how and whether you are already implementing such a standard in your own practice.
A “concept release” on the fiduciary standard could come from the SEC by early summer, while the DOL fiduciary redraft is scheduled to be released in July.