fiduciary duty that an investment adviser owes to his clients.â. 13 Section 206 is, after all, an anti-fraud provision and the SEC has on occasion defined as âfraudulentâ under Section 206. conduct that would not seem to be recognized as âfraudâ at common law.
What is a gift annuity agreement? A gift annuity agreement is a lifelong contract, not a trust, between a single nonprofit organization and an individual or couple, who are referred to as annuitant(s). The terms of this agreement will lock in the rate, amount and timing of all payments the annuitant(s) receive.
In its most general sense, an annuity is an agreement for one person or organization to pay another a stream or series of payments.Usually the term âannuityâ relates to a contract between you and a life insurance company, but a charity or a trust can take the place of the insurance company.There are many categories of annuities. They can be classified by: 1  Nature of the underlying investment â fixed or variable. Protection from creditors. 2  If you own an immediate annuity (that is, you are receiving money from an insurance company), generally the most that creditors can access is the payments as theyâre made, since the money you gave the insurance company now belongs to the company.