SAN DIEGO--(BUSINESS WIRE)--TD Ameritrade Institutional1 will bring industry influencers, independent registered investment advisors (RIAs) and consumer advocates together for a Fiduciary Leadership Summit to be held June 13, 2013, in conjunction with the Elite Advisor Conference. The Summit aims to elevate the discussion around improving investor protections and increasing clarity regarding regulations poised to impact the RIA industry and retail investors.
“On the Regulation of Investment Advisory Services: Where Do We Go from Here?”
“While some of the conversations and debate may have temporarily subsided, proposed regulatory actions around improving advisor oversight and the application of a uniform fiduciary standard are not going away and should be addressed proactively,” said Tom Nally, president, TD Ameritrade Institutional. “The Summit offers an opportunity for industry stakeholders to come together and discuss ways to help guide policymakers toward the best possible outcomes for RIAs and their retail investor clients. We look forward to having a productive conversation and developing an advocacy action plan that is driven by industry collaboration and puts the interests of investors first.”
The RIA industry is at a pivotal point in time as regulators consider new and enhanced rules which could impact the way RIAs serve their clients and run their businesses. Summit participants will discuss the status of regulatory proposals outlined in the Dodd-Frank Wall Street Reform and Consumer Protection Act and address key issues, including the future of the fiduciary standard, improving advisor oversight and investor protections and raising consumer awareness of the benefits of working with a fiduciary advisor.
“As fiduciary advisors, RIAs are well positioned to provide investors with independent, objective advice in these uncertain economic times. However, consumer awareness remains low regarding the difference between investment advice models and the fees and potential conflicts of interest that can exist in some areas of the financial advice industry,” added Skip Schweiss, managing director of advisor advocacy and industry affairs at TD Ameritrade Institutional. “It’s important that, in addition to meeting with our industry peers, we seek the support and input of leading consumer groups and investor advocates to address concerns and uncover opportunities to advocate for and educate RIAs and their retail investor clients.”
The Summit builds on TD Ameritrade Institutional’s previous successful advocacy efforts. Those include leading a charge to defeat the Broker-Dealer Exemption Rule, helping shape the updated RIA custody rule and elevating the discussion on Dodd-Frank Act Sections 913 and 914, which address the fiduciary standard of care and advisor oversight, respectively.
TD Ameritrade Institutional has been a longtime advocate for RIAs and their clients. It supports upholding the strict fiduciary standard of care, which requires RIAs offering ongoing investment advice to act in a way that puts the best interest of their client first. TD Ameritrade Institutional has also worked directly with policymakers to inform the discussion around advisor oversight and has proposed recommendations for improving the efficiency and effectiveness of regulatory exams. To arm policymakers with information to help improve investor protections without significantly increasing the regulatory burden on advisors, TD Ameritrade Institutional supported two research efforts; “On the Regulation of Investment Advisory Services: Where Do We Go from Here?”, a study conducted by associate professor of finance, James J. Angel, Ph.D., CFA, Georgetown University and “Investment Adviser Oversight; Economic Analysis of Options”, a study conducted by the Boston Consulting Group.
The Fiduciary Leadership Summit is an invitation-only event. For more information, including updates on industry affairs and news impacting RIAs and investors, please visit www.TDA4Advisors.com, follow us on Twitter @TDA4Advisors and connect on LinkedIn.
For more information about TD Ameritrade Institutional, please visit www.tdainstitutional.com.
James J. Angel, Georgetown University and the Boston Consulting Group are separate from and not affiliated with TD Ameritrade, which is not responsible for their content, research, policies, or services.
About TD Ameritrade Institutional
TD Ameritrade Institutional1 is a leading provider of comprehensive brokerage and custody services to more than 4,500 fee-based, independent registered investment advisors and their clients. Our advanced technology platform, coupled with personal support from our dedicated service teams, allows investment advisors to run their practices more efficiently and effectively while optimizing time with clients.
About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade’s (NYSE: AMTD) technology, people and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how - bringing Wall Street to Main Street for more than 36 years. TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade’s newsroom or www.amtd.com for more information.
1TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation.