July 19, 2018
1. Overall, do you find the Relationship Summary useful? If not, how would you change it? If so, what topics and how can they be improved?:
Yes, very useful. The suggestions made by all at our Philadelphia round-table should be studied and many should be incorporated into the final form.
2. How useful is each section of the Relationship Summary? Please consider explaining your responses in the comments:
a. Type of Relationship and Service: Useful: Good description
b. Our Obligations to You: Useful: Insert a definition of "Fiduciary"
c. Fees and Costs: Useful:
d. Comparison to different account types: Very Useful:
e. Conflict of Interests: Useful: Give examples of conflicts of interest
f. Additional Information: Useful: Move this section to near the begining
g. Key Questions to Ask: Useful: Add, "how to end relationships".
Add more on "required communications"
3. Please answer the following questions. Please consider explaining your responses in the comments:
a. Do you find the format of the Relationship Summary easy to follow?: Somewhat: Place "Key Questions" nearer to the beginning. Format otherwise OK
b. Is the information in the appropriate order?: No: Order :
Types of Relationships...
Fees and Costs
Key questions
Our obligations to you
Conflicts of Interest
Additional information
c. Is the Relationship Summary easy to read?: Somewhat: Simplify language to eight grade level
d. Should the Relationship Summary include additional information about different account types?: Yes: Use examples
e. Would you seek out additional information about a firm's disciplinary history as suggested in the Relationship Summary?: Somewhat: Only if there were known issues or questions about the character of the advisor or if totally unknown to me
4. Are there topics in the Relationship Summary that are too technical or that could be improved?:
Yes, please refer to the transcript of the Philadelphia Roundtable
5. Is there additional information that we should require in the Relationship Summary,such as more specific information about the firm or additional information about fees? Is that because you do not receive the information now, or because you would also like to see it presented in this summary document, or both? Is there any information that should be made more prominent?:
Discuss how to leave the financial relationship and what questions to ask regarding contractual obligations of the client
6. Is the Relationship Summary an appropriate length? If not, should it be longer or shorter?:
Four to six pages with possibly a larger font
7. Do you find the 'Key Questions to Ask' useful? Would the questions improve the quality of your discussion with your financial professional? If not, why not?:
Yes useful, but bring this section closer to the beginning
8. Do you have any additional suggestions to improve the Relationship Summary? Is there anything else you would like to tell us?:
Use highlights on key points