Top 10 Technology Trends for Advisors and Their Partners, Pt. 4: Integrated Workstation
Significant investments are being made by large financial institutions and niche software providers for the sole purpose of allowing advisors to plug-and-play different software solutions into “their” advisor workstations.
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.
SEC Charges Advisor With ‘Soft Dollar’ Fraud
The SEC on Wednesday charged a San Francisco-area investment advisor with fraud for lying to clients about how brokerage commission rebates, or 'soft dollars,' were being used and producing phony documents to cover up the fraud during an SEC exam.