July 6, 2020
INVESTMENT ADVISER MARKETING FEEDBACK FORM
1. Have you ever hired, or considered hiring, an investment adviser? Because investment advisers are the subject of this proposed rulemaking, please focus your responses in this questionnaire on investment advisers rather than brokers. : No
2. Have you viewed any investment adviser advertisements? For example, have you looked at an advisers website or a presentation? : No
3. Have you looked at an advisers past performance results when considering hiring an investment adviser?
No
4. Have you ever specifically requested past performance results from the investment adviser? : No
5. If you have viewed an advisers past performance results, have you discussed them with the adviser? : No
6. If you have viewed an advisers past performance results, did you believe that those past performance results would predict the future performance that the adviser could achieve for you? : Don't know
7. How important is it to know the following information when reviewing the past performance results of an adviser?
Performance results minus fees and expenses (i.e., net performance) : Very Important
A schedule of the specific fees and expenses deducted to calculate net performance : Very Important
Performance results for one-, five-, and ten-year periods : Very Important
Other information (if any, please describe) : My current broker just mailed a change in their Client Relation Form which was to take effect June 30. I did not receive this disclosure until after June 30 instead of before the effective date. I received the disclosure on 7/7/2020.
8. Have you reviewed hypothetical performance results that demonstrated how an investment strategy could have or would have worked?
No
9. Have you reviewed targeted performance returns or projected performance returns?
No
10. Would other peoples opinions of the adviser (e.g., testimonials by advisory clients, and endorsements by non-clients), or an advisers rating by a third-party (e.g., Rated B+ by Adviser Reports) help you choose an investment adviser? : No
11. How important is it to know the following information when considering a testimonial, endorsement, or rating of an adviser?
Whether the person giving the testimonial or endorsement is a current client : Very Important
Whether the adviser pays the person giving the testimonial, endorsement, or the rating : Very Important
How recent the rating is, and the period of time it covers : Very Important
Other information (if any, please describe) : The broker who holds my account became my broker by buying out my previous broker: Scottrade. I had no information on them and was told by Scottrade that they did business in a similar fashion.
12. What other information do you think would make the advertisements not misleading?
My current broker has failed to mail requested checks to me in that past and has recently failed to send me a transfer form to transfer an account outside of my account so that I can consolidate it with my current account. I have made two requests to send the transfer form and those requests have been ignored.
13. Has a paid salesperson (a solicitor) ever referred you to an investment adviser? : No
14. Would it affect your decision to hire an investment adviser if you knew that the adviser paid a salesperson to refer you to the adviser? : Yes
15. How important is it to know the following information about a paid salespersons referral?
Amount paid to the solicitor for referring you to the adviser : Very Important
Whether there will be any additional cost to you: Very Important
The solicitors relationship to the adviser : Very Important
Whether the solicitor has been disciplined for financial-related misconduct : Very Important
Other information (if any, please describe) : Since my current broker is providing very poor service I have written a letter to them requesting that they pay my transfer fees to another brokerage which I feel is only fair.