One of the most common questions asked by advisers is “What is best execution?” The second most common: “How do I obtain it? Or at least demonstrate that I am seeking it?” The SEC has never provided a formal definition of what constitutes “best execution”, but in practice, there are many qualitative and quantitative factors that should be considered when determining whether best execution is being achieved. This web cast will:

• Discuss trading practices that affect best execution, such as directed brokerage arrangements, soft dollars, cross-trades, and commission recapture arrangements
• Identify factors that advisers should consider when evaluating brokerage
• Highlight how to use market statistics published by brokers and market centers to review execution quality
• Provide guidance on documenting a “periodic” and “systematic” review
• Discuss whether a “best execution committee” is appropriate and who should be on it
• Discuss best execution in the context of trading mutual funds, ETFs, and fixed income securities
• Discuss SEC enforcement proceedings involving best execution