A strategy could include tax, retirement, investments, funds, or even estate planning. Therefore, a registered adviser may want to make better use of CPA advice or licensed attorneys. "New FINRA Rule 2111 generally is modeled after former NASD Rule 2310 (Suitability) and requires that a firm or associated person "have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile".
A strategy could include tax, retirement, investments, funds, or even estate planning. Therefore, a registered adviser may want to make better use of CPA advice or licensed attorneys. "New FINRA Rule 2111 generally is modeled after former NASD Rule 2310 (Suitability) and requires that a firm or associated person "have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile".