Gaining Perspective

The Investment Advisers Act of 1940, more commonly known as the 40 Act, is a U.S. federal law that defines the role and responsibilities of an investment advisor. Prompted in part by a 1935 report to Congress on investment trusts and investment companies prepared by the SEC, the act provides the legal groundwork for monitoring those who advise pension funds, individuals and institutions on investing. It specifies what qualifies as investment advice and stipulates who must register with state and federal regulators in order to dispense it.

Show Notes

The Investment Advisers Act of 1940, more commonly known as the 40 Act, is a U.S. federal law that defines the role and responsibilities of an investment advisor. Prompted in part by a 1935 report to Congress on investment trusts and investment companies prepared by the SEC, the act provides the legal groundwork for monitoring those who advise pension funds, individuals and institutions on investing. It specifies what qualifies as investment advice and stipulates who must register with state and federal regulators in order to dispense it.

What is Gaining Perspective?

This podcast is hosted by Advisor Perspectives, one of the leading publications for financial advisors. Our podcast series brings you short interviews with top thought leaders in financial advice, planning, investments and economics. Each episode focuses on a specific issue facing financial advisors. Listeners will learn the key trends affecting the way they and their competitors operate and the steps advisors can take grow their practices and deliver better service to their clients.