Investment Advisers

What is an Investment Adviser?
Under the Investment Advisers Act the term "investment adviser" applies to:
  • "Anyone who gives investment advice which is defined as a recommendation, opinion or guidance given to a member of the public in relation to buying or selling securities."

This normally includes financial planners, accountants, lawyers, sharebrokers and insurance agents. The meaning of security is shares, debentures, group investment schemes and superannuation schemes, etc. There are also such things as discount houses, which do not provide any investment advice, but they receive money and securities to act on your behalf.

What your Investment Adviser must Tell you
As an investor, the Investment Advisers Act requires investment advisers to provide you with certain information before giving investment advice and implementing your investment plan. Prior to giving any investment advice and before you give them any investment money, they must disclose certai...

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