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"Advisor" and "adviser" are two terms used interchangeably when referring to someone who gives financial advice. While the former is more commonly used, the federal law that established how ...
The Investment Advisers Act of 1940, codified at 15 U.S.C. § 80b-1 through 15 U.S.C. § 80b-21, is a United States federal law that was created to monitor and regulate the activities of investment advisers (also spelled "advisors") as defined by the law.
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
An IA must adhere to a fiduciary standard of care laid out in the US Investment Advisers Act of 1940.This standard requires IAs to act and serve a client's best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest which might incline an investment adviser—consciously or unconsciously—to render advice which was not in the best interest of the IA ...
The term financial advisor is a generic one that can encompass many different financial professionals, although it most commonly refers to brokers (individuals or companies that buy and sell ...
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An adviser is typically part of the leadership, whereas consultants fulfill functional roles. [1] The spellings adviser and advisor have both been in use since the 16th century. [2] Adviser has always been the more usual spelling, though advisor has gained frequency in recent years and is a common alternative, especially in North America. [3] [4]
Failing to do so is a violation of the law and their code of ethics. ... rather than simply offering advice. Whereas a financial advisor may merely make recommendations and build financial plans ...