A Registered Investment Adviser is approached by the heirs of an estate to manage their newly received assets. The account would be substantial, but the adviser is concerned that the heirs might be overly litigious. The adviser wishes to limit his liability as a fiduciary to minimize this risk. Which statement is TRUE?
A. The investment adviser can get a signed letter from the beneficiaries, relieving the adviser of his fiduciary obligation
B. The investment adviser can subcontract out the management of the money to a subadviser, who will assume the fiduciary responsibility
C. The investment adviser can petition a court of law to void the adviser's fiduciary standard
D. The investment adviser cannot limit his fiduciary responsibility and liability