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.
Concept of an Annuity. Annuities are used primarily to provide a steady stream of income to an individual typically upon retirement. In theory, an annuity is designed to protect against outliving an individualâs retirement income by providing lifetime income. One of the primary functions of an annuity is to liquidate an estate, or to pay benefits until the death of an annuitant.