Answer: Registered firms sometimes ask us if they can provide account statements and reports on a household basis to families where multiple family members are clients of the firm. According to regulatory guidance, the answer is a qualified yes, but… registered firms may choose to provide supplementary reporting at the household level to clients that request it, but only if they also separately provide account-level reporting. This means that registered firms are permitted to provide account statements and cost and performance reports on a household basis to clients that want it, but only as additional reports to account-level statements and reports for each individual in the household.

February 28, 2022