August 31, 2010
I am writing in regards to understanding the roles of Investment Adviser and Broker public comment invited by SEC.
I would strongly urge SEC to mandate that anyone who depends on commission, salary, or any monetary gain from the sale of a security clearly and unambiguously clarifies that for their potential client upfront to remove any doubt about conflict of interest. Likewise, to ensure truthfulness and complete transparency, an Advisor who does not stand to gain from the investment product his/her client chooses, should clearly state that upfront as well. That way the public expects either one or the other statement and knows who/what they are dealing with.
Thank you very much.