If an adviser appoints an independent representative for a client, must the adviser obtain the clients consent?
The rule does not address this point. However, an adviser’s fiduciary duties, client contract or limited partnership contract may require it to obtain client consent for the appointment. Appointment of a representative without consent of the client suggests that the representative may be controlled by the adviser and is not truly independent.
Related Questions
- Can I obtain consent from a representative if the subject lacks capacity to provide their own consent (e.g. surrogate consent)?
- Can someone who is an advisory client of an adviser act as an independent representative for other clients of that adviser?
- Do I need to obtain client consent to disclose his/her personal information to a collection agency?
