Subject: File No. DF Title IX - Pre-Sale Disclosures
From: J D, CFP

August 30, 2010

Regarding the Pre-sale disclosure requirements, if any.

Keep it simple. Lengthy disclosure will rarely be read by the public.

ALLOW those who are exclusively fiduciaries (Investment Advisors) to state they are such in communication with clients.

REQUIRE those that are not fiduciaries (Registered Reps.) to disclose they are not.

ALLOW/ REQUIRE those that are dually registered to disclose as appropriate.

Example language:


"We ARE fiduciaries required to present you advice we believe is in your favor and ahead of our own interests should there be a conflict.


We are NOT fiduciaries though transactions we solicit from you are required to be suitable for your circumstances. A transaction might result in losses to you which mean we might benefit more than you from your transactions.