Investment Advice

Investment Advice

Counsel given to an investor as to which securities to buy or strategies to pursue, usually in exchange for a fee. Investment advice may involve interacting directly with a client (e.g. by managing assets), or simply giving passive, general advice about which securities or industries are bullish or bearish. Investment advisors managing a certain amount of money must register with the SEC; the actions of all investment advisory services are governed by the Investment Advisors Act of 1940. Importantly, it is a criminal offense for investment advisory services to provide false or misleading information, and to sell or buy their own securities to or from a client.
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Information from TDA is not intended to be investment advice or construed as a recommendation or endorsement of any particular investment or investment strategy, and is for illustrative purposes only.
Importantly, there is a question as to whether the Department of Labor (DOL) will now change its views about whether a person is, or is not, acting as a fiduciary when providing "investment advice" as the term is defined under ERISA Section 3(21)(A)(ii) and Section 4975(e)(3) of the Internal Revenue Code (IRC).
The council is seeking a contractor to provide strategic property acquisition investment advice and to build and manage a portfolio of assets in accordance with their aims and objectives (see appended strategy).
30 July 2019 - Chicago, US-based investment manager Northern Trust Asset Management has agreed to acquire San Francisco, US-based investment advisor Belvedere Advisors LLC, which owns Emotomy, an open-architecture digital investment advice platform designed for financial professionals, the company said.
Starting today, Scott Kaufman will be working at Riverfront branches in Reading and Wyomissing to provide financial planning and investment advice to credit union members.
"The exemption's text makes clear that it applies both to fees for investment advice and to fees for the sale of an investment product pursuant to investment advice," Labor wrote.
Under ERISA, a fiduciary is a person who has discretionary authority over the management of the plan, or a person who "renders investment advice for a fee or other compensation, direct or indirect, with respect to any moneys or other property of such plan, or has the authority or responsibility to do so." Previously, solicitors were not fiduciaries because they were receiving fees in exchange for referrals and, as such, were not rendering investment advice.
Wells Fargo Advisors provides investment advice and guidance to clients through 15,086 full-service financial advisors and 3,899 licensed bankers.
Summary paragraph: If it allows for investing, anyone giving investment advice will need to enter into a best interest contract (BIC) with the plan sponsor or participant
The DOL's proposal expanding the definition of fiduciary investment advice was published April 20, 2015.
The Department of Labor (DOL) has announced its highly anticipated final fiduciary rule, which is intended to help ensure that Americans saving for retirement get investment advice that is in their best interest.
Global Banking News-April 6, 2016--HSBC to offer investment advice to small UK savers