Regulatory Pitfalls Regarding Fee Based Accounts


April 2015


Does your firm monitor the accounts it manages for the appropriateness of fees charged in relation to trading activity and client suitability?  You should since the Securities and Exchange Commission (“SEC”), through its National Examinations Program, is continuing to look at how investment advisory firms are addressing this issue.[1]

Fee based accounts have become more prevalent in the financial services industry over the past twenty years as investors have  favored the concept of paying for advice and management for an ongoing asset based fee.

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