Question

Investment advisers are prohibited from doing all of the following EXCEPT:

A. assigning a customer's contract without permission
B. charging a retainer fee
C. charging commissions on trades effected for the client
D. changing partnership management without notifying clients

Answer 1

B. charging a retainer fee

Step-by-step explanation:

Investment advisers are prohibited from doing all of the following except for charging a retainer fee. A retainer fee is an specific amount of money that the client pays to the professional upfront so that his/her services are secured and always available when needed. Investment Advisers can charge this fee so that the client's can always get their service as soon as it is needed.