Advisers may not be equipped to help clients navigate private markets
August 9, 2019 | Mark Schoeff Jr. | Investmentnews.com
As the Securities and Exchange Commission considers easing rules surrounding investments in unregistered securities, financial advisers could find themselves as the gatekeepers between ordinary investors and the private market.
In a recent letter to the SEC, Republicans on the Senate Banking Committee asked the SEC to consider allowing investors to pool their crowdfunding money into a fund managed by registered investment advisers.
The notion of allowing more investors – beyond those who meet income or net worth thresholds — into private markets has gained momentum thanks to a recent SEC comment request on reforming so-called exempt offerings.