Tips on Effective Practices for Digital Investment Advice by International Financial Securities Regulatory Commission
According to a recent report from Financial Industry Regulatory Authority (FINRA), firms providing financial services through “digital investment advice” require sound supervision and governance, plus effective ways of determining appropriateness of advices, conflicts of interest, client risk tolerance and portfolio rebalancing. Likewise, the report provides helpful tips for investors and emphasizes the importance of training and education for financial experts who utilize digital investment advice applications. FINRA released the report to provide the public effective practices pertaining to digital investment advice services and to inform member companies of their duties under FINRA regulations. The report highlights the fact that global expenditures on online wealth-management services will continue to grow substantially.
Published Thursday, August 4, 2016 by Anthony Evans
4 pages