As advisors begin planning for 2011, one potential hurdle to cross is any new compliance demands that could cross their desk in the coming year. TD Ameritrade Inc. surveyed 400 advisors earlier this quarter to gauge their thoughts on industry regulations.
“As we head into the new year, advisors will be looking for clarity on regulatory issues impacting their businesses. The survey clearly shows these unanswered questions are cause for concern,” says Skip Schweiss, managing director, advisor advocacy and industry affairs, TD Ameritrade Institutional.
“Even though there is lingering uncertainty around regulatory changes, the independent business model is winning in the marketplace, adds Schweiss.”
Nearly 60 percent of the advisors surveyed say that what they worry most about “pending regulatory reform is that they may have to dedicate more time and money to meet any new compliance requirements. In addition, they have concerns about whether regulators truly understand the work advisors do on a daily basis.