Investor and Industry Perspectives on Investment Advisers and Broker-Dealers

Angela A. Hung, Noreen Clancy, Jeff Dominitz, Eric Talley, Claude Berrebi, Farrukh Suvankulov

Research output: Book/ReportReport


In theory, financial professionals are relatively distinct: A broker-dealer conducts transactions in securities on behalf of itself and others; and an investment adviser provides advice to others regarding securities. Different laws regulate each type of professional, but boundaries have blurred. This report examines current business practices and investor understanding of each type.
Original languageEnglish
PublisherRand Corporation
Number of pages228
ISBN (Electronic)9780833047847
ISBN (Print)9780833044037
StatePublished - 2008


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