08.16.19
New SEC Videos Aim to Help Investors Identify Brokers vs. Investment Advisors
by: Mark, Jr. Schoeff
The SEC has posted videos designed to highlight the differences for investors between a broker and an investment advisor. The videos, hosted by SEC Chair Jay Clayton, walk viewers through the services and costs associated with each business model. In the videos, Clayton breaks it down this way: Brokers make recommendations on investment-product transactions, while advisors can provide the same guidance but also manage investment accounts on an ongoing basis. He also mentions that many financial professionals are both brokers and advisors.
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