Because investment advisers owe a duty to obtain best execution for customer orders, they ought to evaluate the executions carried out on their clients' behalf on a periodic basis.
Source quote, verbatim
investment advisers are subject to a duty to obtain the best execution for customer orders,103 investment advisers ought to periodically evaluate the executions on behalf of their clients.
Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268
Holds when
advisers placing or directing client orders
Classification
normativesupport: arguedcorporate-governance
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