| Clarity
is the cornerstone of trust between investors and their financial
representatives.
SIA is committed to clarity through full and
unambiguous disclosure, as well as enhanced understanding
of the securities markets.
We believe that the needs of the investor should
always come first. As an investor, you have important rights,
including the right to high quality products and services
from the securities firm you choose.
At the same time, investors need to shoulder
certain responsibilities themselves — for example, to
plan carefully to meet their investment goals and to stay
informed about the risks and rewards of their investments.
Your Rights As An Investor
As an investor, you have the right:
Quality Service
To be treated in a fair, ethical, and respectful
manner in all interactions with a securities firm and its
employees and affiliates.
To receive competent and courteous service and advice (if
provided by your firm) at a fair price.
To select your own representative or request a different one
if you are not satisfied.
To move your account to another representative or a new investment
firm whenever you wish in a simple, efficient manner.
Full, Clear Reporting
To clear, accurate, easy-to-understand descriptions
of all your transactions, statements, and other communications
from your investment firm.
To be informed clearly about all the costs associated with
your account and the costs related to individual transactions,
including commissions, sales charges (or loads), and other
fees.
To accurate and timely regular statements of your account,
including detailed transactional information.
To be provided with clear descriptions of your firm's policies
and practices for protecting the privacy of non-public, personal
information.
Securities Industry Association
Responsible Investment Advice (If A Firm Offers Advice)
To be provided with responsible investment recommendations
based on your personal objectives, time horizon, risk tolerance,
and other factors, as disclosed by you.
To be apprised of significant conflicts of interest identified
in a financial relationship between an investor and his or
her broker-dealer or account representative.
To expect that your investment firm will provide professional
assistance to help you clarify your investment goals and risk
tolerance.
To be able to rely on your firm's assistance also in setting
realistic expectations about the long-term performance and
associated risks of various securities. The firm will present
you with reasonable investment alternatives designed to meet
those expectations, and disclose the comparative risks, benefits,
and costs.
Prompt, Fair Resolution Of Problems
To fair consideration and a prompt response
from your investment firm, if any problem with your account
ever arises.
To a clearly defined process for raising and resolving a complaint.
Your firm will provide you with full information about this
process, particularly about how you can elevate an issue to
the appropriate level of the firm's management to gain satisfaction.
To be apprised of alternatives if your investment firm is
unable to resolve a dispute to your satisfaction.
These best practices are aspirational in nature.
To be sure, the diversity of firms may require each firm to
accept, reject, or modify these practices to suit each firm's
particular characteristics.
To abide by the highest professional standards is an obligation
we incurred when we chose to earn our living by managing other
people's money. Anything less would be inconsistent with the
trust our clients have placed in us and a betrayal of our
professional obligation.
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