Series 66: 9.4.14 Duty Of Best Execution

Taken from our Series 66 Online Guide

9.4.14 Duty of Best Execution

An investment adviser must try to get best execution on securities transactions for clients. Best execution means more than just seeking low trading commissions for clients. Instead, the SEC says that an adviser must look at the full range of a broker’s services and consider total cost, quality, execution capability, commission rate, financial responsibility, responsiveness to the adviser, and the value of any research services (soft dollars) provided. The obligation to seek best execution on trades stems from the adviser’s fiduciary role, as stated in the Investment Advisers Act and other legislat

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