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TD Ameritrade Rings in #FiduciaryFriday

TD Ameritrade Rings in #FiduciaryFriday

TD Ameritrade celebrated the 75th anniversary of the Investment Advisers Act of 1940 by ringing in the opening bell at the New York Stock Exchange on Friday.

Led by Skip Schweiss, who heads up advisor advocacy for the Omaha-based custodian, 10 area advisors affiliated with TD Ameritrade rang in the bell at 9:30 a.m.


“The RIA profession was built on a ‘client-first’ foundation that continues to deliver value to investors, especially in times of market uncertainty and 24/7 news headlines that can rattle investor confidence,” Schweiss said, referencing the market volatility at play this week.



The industry is set to celebrate the 75th anniversary of the Investment Advisers Act throughout September. Sgned by President Franklin D. Roosevelt in August 1940, the act is part of a package of laws regulating investment advisers. It gives the Securities and Exchange Commission the authority to govern these advisors and today the agency oversees $67 trillion of assets held with RIAs.

“The Investment Advisers Act has given investors who work with an RIA the benefit of knowing their advisor is providing client focused insights and expertise when cool-heads are needed,” Schweiss added.

In addition to ringing in the bell on Friday, TD Ameritrade will sponsor the Institute for the Fiduciary Standard’s Fiduciary September. Now in its fourth year, the Institute’s annual event includes a series of events and activities aimed at promoting the fiduciary standard. Details of the 2015 agenda will be announced Tuesday.

The SEC is also set to commemorate the Advisor Act’s anniversary on Tuesday, Sept. 29, 2015 with a live event in Washington D.C. featuring remarks from Chair Mary Jo White and other commissioners, as well as panel discussions. 

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