UNLOCK THE POWER OF THE VAULT

New Nevada law imposes fiduciary duty on brokers

June 20, 2017

New Nevada law imposes fiduciary duty on brokers

The measure, effective July 1, requires advisers to disclose any “profit or commission” they receive and make a “diligent inquiry” about a client’s financial condition and goals

June 16, 2017 | by Mark Schoeff Jr. | InvestmentNews.com

Brokers in Nevada will have to meet a fiduciary standard when providing investment advice under a law that will take effect July 1.

The measure revises a current fiduciary law applying to “financial planners” that excluded brokers and investment advisers. The new law subjects brokers and advisers to the state’s fiduciary rule.

Brokers normally operate under a suitability standard enforced by the Financial Industry Regulatory Authority Inc. that requires them to sell products that fit a client’s risk tolerance, liquidity needs and investment objectives. Under the Investment Advisers Act…

Read Full Article Here

Go Back
Derek Hayes
Blue Vault's Services
April 14, 2016

BlueVault saves a lot of time and effort in obtaining good numbers for analysis and provides good insights to compare against my own.