How is IAM licensed and regulated?
IAM is incorporated and licensed in the state of California as a Registered Investment Advisor (RIA). RIAs are regulated by the government of the state in which they are based or the U.S. Securities and Exchange Commission. As a RIA firm, IAM is held to a higher standard of care with respect to its clients than a brokerage firm. A RIA firm representative has a fiduciary responsibility to his or her clients whereas a broker does not. IAM is further bound by the U.S. Investment Advisor Act of 1940 and we adhere to the CFA Institute (formerly the Association of Investment Management and Research) Code of Ethics and Standards of Professional Conduct. U.S. representatives of RIA firms hold a Series 65 or Series 66 Investment Advisor license and, in addition, all IAM portfolio managers are CFA charterholders or have a CIM or other recognized portfolio management qualification.
