April 3, 2013

Fiduciary Survey Closes Friday

Last chance for advisors to make their voices heard on fiduciary debate at the SEC and the DOL

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from The Advisor's Professional Library
  • Nothing but the Best Execution Along with the many other fiduciary obligations owed by RIAs, firms owe a duty to seek best execution of clients’ transactions.  If they fail to do, RIAs violate Section 206 of the Investment Advisers Act.
  • U.S. Securities and Exchange Commission Information This information sheet contains general information about certain provisions of the Investment Advisers Act of 1940 and selected rules under the Adviser’s Act.  It also provides information about the resources available from the SEC to help advisors understand and comply with these laws and rules.

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.

The findings of the 2013 Survey will be published on AdvisorOne and presented at fi360’s annual conference in April. 

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. 

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You can read the findings on AdvisorOne of the 2012 Fiduciary Survey, and you can take this year’s 2013 Fiduciary Survey here.

 

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