contestada

Tom is a very successful investment advisor representative and has decided that he is going to hire another investment adviser to help him manage some of his client accounts. tom places about one third of his client accounts under the management of the new investment adviser and will share his advisor fee with the new investment manager. at the end of the year tom receives a complaint letter from one of his clients who was managed by the new investment adviser. the client is unsatisfied with the losses generated in her trust account. in this situation tom:

Respuesta :

In this situation "Tom should bear responsibility for the client's dissatisfaction since Tom had a duty to monitor and investigate the suitability of any delegation of investment and management functions of the client's trust account".

Reason: It was the duty of Tom to supervise how the customer’s money was being taken care and Tom should have known that the investment strategies of the new investment adviser may not be suitable for the client.

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