* Price covers the $3 IAR CE reporting fee.

Course Description

This self-study course provides a comprehensive exploration of ethical considerations in investment adviser fee structures and compensation models. It emphasizes the principles of transparency, fairness, and fiduciary duty in disclosing compensation practices to clients. The course examines common fee structures, conflicts of interest arising from revenue sharing and 12b-1 fees, and outlines best practices for clear and complete disclosures. Through case studies, regulatory guidance, and ethical frameworks, participants will strengthen their ability to align compensation models with fiduciary obligations and client trust.

Difficulty Level: Foundational

IAR CE: 1 credit in Ethics and Professional Responsibility (Course # C80872)

CFP CE: 1 hour in General CE (Course # 344340)

Year Released: 2026

Course curriculum

    1. Course Instructions

    2. FINRA Reporting

    1. Foundations of Transparent Fees

    2. Common Fee Models: Benefits and Ethical Risks

    3. Revenue Sharing and Indirect Compensation

    4. Quiz Module 1

    1. 12b-1 Fees and Share Class Conflicts

    2. Disclosure and Communication Standards

    3. Case Studies and Lessons Learned

    4. Quiz Module 2

    1. Course Conclusion and Key Takeaways

    2. Course Survey

    1. Final Assessment

About this course

  • $9.95
  • 13 lessons
  • IAR CE 1 Credit in Ethics and Professional Responsibility
  • $3 IAR CE reporting fee included

Course Learning Objectives

By the end of this course, participants will be able to:

Identify common compensation structures used by investment advisers and their ethical implications.

Evaluate conflicts of interest created by revenue sharing, 12b-1 fees, and other indirect compensation.

Apply fiduciary standards to fee arrangements, ensuring alignment with clients’ best interests.

Implement disclosure best practices that promote clarity, transparency, and client understanding.

Analyze case studies involving compensation practices to identify ethical pitfalls and compliance risks.

According to NASAA guidelines, to successfully complete the course, you must achieve a score of at least 70% on the final assessment. You have up to three attempts to reach this score. If you do not pass after three attempts, you will need to retake the entire course before you can try the assessment again.

Course Instructions

NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are my/our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

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