Saturday, April 30, 2016

FINRA Reports on Effective Practices for Digital Investment Advice

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FINRA has issued a press release stating that financial services "firms' offerings of digital investment advice need sound governance and supervision, including effective means of overseeing suitability of recommendations, conflicts of interest, customer risk profiles and portfolio rebalancing."

The report also outlines lessons for investors and says training and education are crucial for financial professionals who use digital investment advice tools.

FINRA issued the report to share effective practices related to digital investment advice services and remind member firms of their obligations under FINRA rules. The report notes that global spending on digital wealth management services is expected to increase significantly."



FINRA Reports on Effective Practices for Digital Investment Advice