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.
“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.”