Regulators Renew Focus On Best Execution

January 28, 2019

When an investment adviser serves as an asset manager and has the responsibility to select broker-dealers and execute client trades, the adviser assumes a fiduciary obligation to seek best execution. The discretionary control exercised by advisers in directing transactions to broker-dealers means they must pay close attention to how the broker-dealers they use manage the costs, quality and conflicts associated with trading.

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