SEC-Registered Foreign Investment Advisors: Will the Wealth Managers Please Stand Up?
Report Summary
SEC-Registered Foreign Investment Advisors: Will the Wealth Managers Please Stand Up?
The foreign wealth manager RIA market is growing. Shouldn't that growth be more geographically diverse?
Boston, April 2, 2014 – Following the U.S. Securities and Exchange Commission’s case against Swiss giant UBS and the tightened definitions and rules in 2011’s Dodd-Frank Act, a significant number of foreign registered investment advisors with U.S. clients now have to register with the SEC. The number of foreign wealth manager RIAs that are registered with the SEC has risen notably in Switzerland, Canada, and the U.K.—but almost exclusively in these three markets. To what extent, then, do wealth managers in other jurisdictions that deal with U.S. clients comply with U.S. rules and regulations?
This Impact Report looks at the foreign investment advisor market to see how many wealth managers are registered with the SEC, where they are located, and when they registered. The report is based on collated data from investment advisors’ registration forms submitted to the SEC and raises questions about the noncompliant market, the United States’ scrutiny of other jurisdictions, and the potential for growth in the market despite the current tax and regulatory challenges.
This 30-page Impact Report contains 16 figures and five tables. Clients of Aite Group's Wealth Management service can download this report.