24 Questions to Ask Your Service Providers
The SEC is tightening restrictions on use of service providers for investments, trading or compliance. Now, it’s your responsibility as an advisor to make sure new rules do not prevent you from meeting your fiduciary responsibility.
Under the proposed restrictions, there is information you are responsible for capturing from each service provider and potentially disclosing to your clients, from the services provided to the potential risks, subcontractors, compliance and termination plan.
Bottom line: You need to know what questions to ask each service provider.
These service providers include outsourced investment management, trading, financial planning, investment-related technology, outsourced compliance, as well as any other service that could impact a client’s investments or your ability to comply with SEC regulations.
Download our list of questions to get you started, and tailor them to meet your needs with each of your third-party providers.