CFA Institute Wrap Guidance Statement Viewed as Unworkable

Unrealistic. Unreasonable. Impractical. Those were some of the adjectives sprinkled throughout the Investment Counsel Association of Americas December 30 comment letter on the CFA Institutes (formerly AIMR) proposed guidance statement on wrap fee performance. “Advisers will not be able to comply with the recordkeeping requirements,” said the ICAA, “and certainly not by the compliance date.” […]
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