August 21, 2014
- President, TD Ameritrade Trust Company
Managing Director of Advisor Advocacy & Industry Affairs
How Would You Like to Pay for That? Weighing choices to increase the frequency of investment advisor exams by the SEC
“As Managing Director of Advisor Advocacy & Industry Affairs for TD Ameritrade Institutional, I help to expand the voice of registered investment advisors (“RIAs”) on important policy issues. As I publish my insights here on the regulatory and legislative issues that affect fiduciary advisors and their retail investor clients, you can be certain that I’m working alongside you every day to make sure that common sense, efficient regulation, and investor interests prevail.”
-Skip Schweiss (Follow Skip Schweiss on Twitter @TDASchweiss
Once every 11 years: That is, on average, how often the Securities and Exchange Commission (SEC) examines registered investment advisors (“RIAs”). And while most businesses dream of operating in a world with such minimal supervision, it is, in actuality, a problem that the RIA industry must fix.
We need to ask Congress for greater oversight and, blasphemous though it may seem, we should offer to help pay for the privilege.