TD Ameritrade Institutional is teaming up with Georgetown University, to examine how the financial services industry can improve investor protection by crafting a new study on advisor oversight, TD Ameritrade announced today.

Georgetown University associate professor of finance James J. Angel will examine various proposals for regulating investment advisors and provide a balanced assessment of each option.

"Three years after the economic meltdown, the financial services industry continues to be divided and policy makers are no closer to deciding which watchdog should regulate investment advisors," said Tom Bradley, president, TD Ameritrade Institutional. "Investors deserve improved protections and advisors want regulatory clarity."

The goal of the study, says Bradley is to "get all the facts out on the table to educate decision makers."

"By collaborating with a highly regarded scholar, TD Ameritrade Institutional will be able to provide perspective and add needed objectivity to the discussion," Bradley said.

To be completed by late summer, the study will examine four proposed options for advisor oversight including continued examination by the Securities and Exchange Commission, creation of a new self-regulatory organization, oversight by the Financial Industry Regulatory Authority, and outsourcing examinations to the accounting profession.

The study will analyze possible regulatory models, provide an overview on the state of advisor regulation, and look at a variety of regulatory considerations, including funding, resources, quality of examinations and advisor costs. The final report will also include a recommendation for an advisor regulation model.