Yesterday’s announcement of a partnership between fi360 and SROIIA was a big step in the right direction for an SRO, should one be chosen, for Investment Advisers. Fi360 brings a wealth of knowledge and expertise to the process of creating a fiduciary exam. The idea of a fiduciary exam is important if many advisers’ wish is granted and a fiduciary standard is created for them under a newly authorized SRO. In the event SROIIA is authorized as the SRO for Investment Advisers, IA’s can rest assured that people with experience as advisers helped create the exam.

The partnership between fi360 is the first of what SROIIA hopes will be many partnerships with industry professionals and legal experts over time to help make SROIIA the best option not only for Investment Advisers, but for consumer protection. A fiduciary standard, and the exam that will coincide with it, are the first steps to be taken to make sure that SROIIA can best serve investors under current laws and regulations. By creating a fiduciary exam, with the help of industry experts, that must be passed to register with SROIIA, the first, and perhaps most important, step of creating an SRO that truly benefits IA’s and investors can be taken.