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Tag Archives: compliance
Financial Plans v. Investment Policy Statements: One, None or Both?
As an investment adviser consultant, one of the first things I ask new adviser clients is whether they prepare financial plans for clients. If so, I advise them not to do so going forward. Simply put, a financial plan in … Continue reading
Posted in compliance, fiduciary compliance, RIA, RIA Compliance, securities compliance
Tagged compliance, fiduciary, fiduciary investing, fiduciary law, financial planning, financial plans, investment advisers, investment analysis tools, portfolio optimization, RIA risk management, risk management, suitability, wealth management, wealth preservation
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Death, Divorce and LaRue: 401(k) Breach of Fiduciary Duty Claims as Assets In Divorce and Probate Cases
In 2008, the Supreme Court of the United States handed down their landmark decision in LaRue v. DeWolff, Boberg and Associates, Inc.(1) In LaRue, the Court finally recognized the fundamental difference between defined benefit pension plans and defined contribution pension … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary, fiduciary investing, fiduciary law, pension plans, retirement plans, risk management, wealth management, wealth preservation
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Social Media and the Investment Adviser
I could write a new blog entry, but why do so when Financial Planning just wrote an excellent article on the subject. http://www.financial-planning.com/news/practice_management/social-media-and-regulatory-compliance-5-rules-2689208-1.html Without question, the continued use of Facebook “likes” and LinkedIn “recommendations are the most common violations. The … Continue reading
Posted in compliance, fiduciary compliance, fiduciary law, RIA, RIA Compliance
Tagged compliance, investment advisers, RIA, RIA compliance
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The Investment Adviser’s Achilles’ Heel v. 2.0
The Securities and Exchange Commission (SEC) recently released a notice regarding the use of testimonials and social media. Investment advisers are generally prohibited from using client testimonials. While the SEC has allowed the use of third-party ratings as long as certain requirements are met, … Continue reading
THE Key Factor in Liability Risk Management
I was at a conference recently to serve on a panel to discuss various fiduciary issues, including FINRA Regulatory Notice 12-25 and the universal fiduciary standard. When I am at a conference, I rarely attend other presentations for the very … Continue reading
Posted in 401k compliance, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, RIA Compliance, securities compliance, wealth management, wealth preservation
Tagged 401k compliance, 404c compliance, compliance, fiduciary, fiduciary law, FINRA, investment advisers, portfolio optimization, RIA compliance, RIA risk management, risk management, securities compliance, suitability, wealth management, wealth preservation
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Four Faces of Fiduciary Prudence
In defining prudence, ERISA’s rules and regulations state that [A] fiduciary shall discharge his duties with respect to a plan solely in the interest of the participants and beneficiaries…with the care, skill, prudence, and diligence under the circumstances then prevailing … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, securities, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, investment advisers, modern portfolio theory, pension plans, retirement plans, RIA, RIA compliance, RIA risk management, risk management, suitability, wealth management, wealth preservation
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Quantum Meruit and “Other” Compliance Challenges
When I was a compliance director, my biggest frustration was not being able to share certain legal information with the broker-dealer’s registered representatives and those who maintained independent RIAs. I understood the BD’s position, namely that volunteering such information potentially … Continue reading
Posted in compliance, fiduciary compliance, fiduciary law, investments, RIA, RIA Compliance, securities, securities compliance, wealth management, wealth preservation
Tagged compliance, Compliance Gauntlet, fiduciary, fiduciary law, investment advisers, modern portfolio theory, RIA, RIA compliance, RIA risk management, risk management, securities compliance, wealth management, wealth preservation
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2014 – Brave New Fiduciary World
2014 promises to be a important year for fiduciary liability issues. ERISA advisers, sponsors and attorneys await the Court of Appeals’ decision in Tussey v. ABB,Inc. and its impact on fiduciary issues such as prudence, loyalty and due diligence. If … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, investment advisers, pension plans, RIA compliance, securities compliance, wealth management
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Creative Chaos – Creating a Win-Win Situation for Investors and Investment Advisers
Having been involved in the quality of investment advice arena for twenty-five years in some capacity (e.g., securities attorney, RIA consultant, B/D compliance director), I have seen numerous changes in both the industry and the surrounding legal/regulatory environment. There is … Continue reading
Posted in 401k, 401k compliance, 401k investments, compliance, fiduciary compliance, fiduciary law, investments, retirement plans, RIA, RIA Compliance, securities compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, investment advisers, investment analysis tools, RIA, RIA compliance, RIA risk management, risk management, securities compliance, suitability
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Beware the “We’re #1” Trap
Michael Kitces recently posted an article about a proposed publication that would provide client reviews of their financial advisors. For those of you who do not follow Michael, you should do so. Michael is recognized as an industry leader. I … Continue reading
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