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Investor and industry perspectives on investment advisers and broker-dealers /
In theory, financial professionals are relatively distinct: A broker conducts transactions in securities on behalf of others; a dealer buys and sells securities for his or her own accounts; and an investment adviser provides advice to others regarding securities. Broker-dealers and investment advise...
| Clasificación: | Libro Electrónico |
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| Autor Corporativo: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Santa Monica, CA :
Rand,
©2008.
©2008 |
| Colección: | Technical report (Rand Corporation) ;
TR-556-SEC. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | In theory, financial professionals are relatively distinct: A broker conducts transactions in securities on behalf of others; a dealer buys and sells securities for his or her own accounts; and an investment adviser provides advice to others regarding securities. Broker-dealers and investment advisers are subject to different regulatory structures. But trends in the financial services market since the early 1990s have blurred the boundaries between them. Regulatory reform requires a clearer understanding of the industry's complexities. The U.S. Securities and Exchange Commission asked RAND to conduct this study to examine the professionals' current business practices and whether investors understand differences between and relationships among them. The report describes a heterogeneous industry, with firms taking many different forms and offering a multitude of services and products and with investors failing to distinguish broker-dealers and investment advisers along regulatory lines. Despite this, investors express high levels of satisfaction with the services they receive from their own financial service providers. This satisfaction was much more frequently reported to arise from the personal attention the investor receives than from the actual financial returns arising from this relationship. |
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| Notas: | "RAND Institute for Civil Justice, LRN-RAND Center for Corporate Ethics, Law, and Governance." |
| Descripción Física: | 1 online resource (xxiii, 204 pages) : illustrations (some color) |
| Bibliografía: | Includes bibliographical references (pages 199-204). |
| ISBN: | 9780833045010 0833045016 9780833047847 0833047841 9786611736750 6611736751 9781281736758 1281736759 |