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* Investment Advisor *
* Investment Advisor *
1. An investment advisor representative
2. A layers, accountant, engineer, or teacher whose performance of investment advice is solely incidental to the practice of the person's profession. (remember LATE)
3. A broker dealer or its agents whose performance of investment advice is solely incidental to the conduct of business as a broker dealer and that does not receive special compensation(aka remuneration) for the investment advice.
4. A publisher of a bona fide newspaper, news magazine, or business or financial publication of general and regular circulation, that doesn't consist of rendering of advice on a basis of the specific investment situation of each client.
5. A federal covered investment adviser (advisers registered with SEC)
6. A bank or savings institution. (institutional clients)
* Investment Advisor *
* Investment Advisor *
Investment advisors can advice through writing or publication.
When the answer is yes to these 3 questions a person can be defined as an
Investment Advisor
When the BD manages a clients account, takes assets under mgmt. and charges a wrap fee.
When the bank is a subsidiary bank
A banking operation incorporated in the country where it operates but is owned by a parent bank incorporated in another nation.
Main purpose is to sell and buy securities. The subsidiary bank can not underwrite securities and follows the regulations that apply to the place where it was incorporated.
