Oct. 29, 2022
October 29, 2022 As an Individual investor, I agree with this proposed rule change. People that use investment advisors deserve to have transparency when it comes to the execution tracking of the orders that occur in their IRA. Investment advisors have a fiduciary duty to their clients. When I see actual investment advisors commenting about how this rule is not necessary, red flags immediately go up. Just seeing a number on a screen (The IRA balance) is not good enough, and in no way notifies clients of possible systemic events that could happen due to failures in the execution, clearing, and settlement process of securities that the client beneficially owns. The SEC should hold investment advisors to a higher standard. Part of being an investment advisor is not only choosing where to allocate your clients funds, but also being transparent and forthcoming in your dealings. Personally, I believe that any argument from an investment advisor against this rule is disingenuous. My thanks to the SEC for trying to pass meaningful legislation.