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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
March 14, 2008 at 01:22 PM
The U.S. Securities and Exchange Commission may free insurers from one part of proposed investment advisor disclosure requirements.
The proposed rule and form changes would require investment advisors to give clients and prospective clients plain English brochures describing their business practices and potential conflicts of interest, SEC officials write in a preamble to the proposed changes, which appear today in the Federal Register.
The proposal would require advisors that accept prepaid fees to give clients’ audited balance sheets for the most recent fiscal year. The advisors also would have to disclose conditions that could threaten their solvency and the safety of the prepaid fees.
The SEC proposed a similar change in 2000, but it now proposes to “exclude [advisors] from the balance sheet requirement if they require prepaid fees but are qualified custodians or insurance companies,” officials write. “These firms are subject to capital and regulatory requirements, designed to guard against insolvency, that eliminate the need for [advisor] to deliver a balance sheet.”
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