Jan 5, 2021

Wealth managers cannot ignore best execution obligations

As regulators around the globe beef up their enforcement of best execution rules, wealth managers need to pay attention now more than ever. When trading assets, brokers are required to seek the best execution reasonably available to fill their customers' orders. Similarly, advisors need to prove that their client’s total costs (or proceeds) in each transaction are the most favorable under the prevailing market conditions. For wealth managers, meeting best execution mandates means having a systematic approach in place to report on these fiduciary responsibilities.