Adviser Groups to RIAs:

Show Your Independence

Explain to the SEC How You’re Different from Brokers

Time-urgent “Raise Your Voice” campaign begins now

Washington, D.C., June 28, 2018 – Several nationally recognized groups of fiduciary advisers today announced an initiative to urge RIAs (SEC and state registered investment advisers) to write the SEC (Securities Exchange Commission) and explain how independent financial advisers are different from brokers. The initiative launches as the SEC seeks comments on proposed rules related to standards for FINRA licensed brokers and SEC / state registered investment advisers. Comments are due August 7th and should be emailed to rule-comments@sec.gov (Subject line: S7-08-18).

What Advisers Can Do

Write the SEC . Write an article for an industry outlet. Use the social media graphics (below) to spread the message.

Campaign materials

Final Press Release

Hypothetical SEC Disclosure

Social media graphics

Virtual Press Conference

Press Conference Announcement

Presentation Slides

Audio Transcript

News Stories on the Campaign

Campaign Launch Coverage – June 28, 2018

PRNewswire: https://www.prnewswire.com/news-releases/adviser-groups-to-rias-show-your-independence-explain-to-the-sec-how-youre-different-from-brokers-300674171.html

Financial Planning Magazinehttps://www.financial-planning.com/news/fee-only-advisors-ask-sec-to-distinguish-them-from-brokers

Investment News: http://www.investmentnews.com/article/20180628/FREE/180629919/organizations-launch-campaign-to-get-investment-advisers-to-comment

Wealth Management: http://www.wealthmanagement.com/regulation-compliance/coalition-rias-seeks-sway-sec-over-advisorbroker-definitions

ThinkAdvisor: https://www.thinkadvisor.com/2018/06/28/coalition-asks-rias-to-tell-sec-how-they-differ-fr/

Advisor Perspectives: https://www.advisorperspectives.com/articles/2018/06/28/the-sec-is-failing-to-serve-retail-investors

Ongoing Campaign Stories

July 18, 2017 – Financial Engines, Edelman push for stronger SEC broker rule

July 19, 2018 – Letter-Writing Campaign Goes After SEC Best-Interest Proposal

July 28, 2018 – Shops Line Up at SEC Offices to Sway ‘Best Interest’ Outcome

August 3, 2018 – Regulation BI is BS

August 6, 2018 – SEC Gives Brokers Free Pass On Fee Disclosures, Fiduciary Group Says

August 6, 2018 – Investors want more information about financial advisers’ fees

 

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