Investment Management Counsel Discusses Directed Brokerage Issues in ACA Insight

In The News
March 18, 2016

ACA Insight’s March 14 newsletter analyses the issue of client directed brokerage preferences and the issues that this poses when best execution practices and administrative efficiencies are potentially compromised. “An investment adviser with responsibility to direct client trades has a fiduciary obligation to seek best execution on behalf of the client,” states investment management counsel David Tittsworth (Washington, D.C.) in the article. Additionally, “an adviser should consider the full range and quality of a broker’s services,” Mr. Tittsworth also outlines which factors should be included for consideration and the goals that an adviser should discuss with their client to ensure execution is aligned with their best interest, whether the brokerage is client directed or selected by the adviser.