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The Prudent Investment Adviser Rules
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Tag Archives: RIA compliance
That Dog Won’t Hunt
First, my apologies for the delay between posts. It has been incredibly busy between helping advisers prepare for the conversion to state supervision, helping new RIAs set-up their practices and performing fiduciary audits. I think RIA firms are finally getting … Continue reading
3 FAQs on RIA Ks
I recently received a call from an RIA firm that had been cited during an audit for having an improper RIA client contract. The CEO explained that they had tried to save some money by copying an advisory contract from … Continue reading
Posted in compliance, RIA, RIA Compliance
Tagged compliance, RIA, RIA compliance, risk management
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Investment Advisers and the Internet
First, the necessary disclaimer – there is no way to cover all the applicable rules and regulations regarding investment advisers and the internet in a single blog. While it is hoped that the analysis provided herein is helpful, it is neither … Continue reading
Posted in compliance, investments
Tagged compliance, FINRA, investment advisers, investment analysis tools, RIA compliance, suitability, web sites
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RIA Compliance in 3-D
Regulators are stepping up their surveillance of RIA firms. While RIA firms are complaining about the time and cost requirements to prepare and maintain an acceptable compliance program, most compliance issues can be reduced to one of three areas – … Continue reading
Posted in compliance, investments, RIA Compliance
Tagged compliance, investment advisers, RIA compliance
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Don’t Go There!
My clients are familiar with several pet phrases that I use to state my opinion in a short, yet definitive manner. One of those phrases that I find myself using a lot is “don’t go there.” As a compliance consultant … Continue reading
Posted in 401k compliance, 404c compliance, compliance, investments, RIA, RIA Compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, retirement plans, RIA, RIA compliance, risk management
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The RIA’s Achilles’ Heel
As an attorney and a compliance consultant, I realize the difference between RIA compliance and RIA risk management. I also realize the importance of both. Unfortunately, I see far too many cases where RIA firms have unnecessary liability risk exposure … Continue reading
Posted in compliance, investments, RIA, RIA Compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, retirement plans, RIA, RIA compliance
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Due Diligence Doldrums
Whether you are a registered representative, an investment advisory representative, or both, you have a legal obligation to do your due diligence regarding the suitability of any investments you intend to recommend to your clients. What many brokers and advisory … Continue reading
Posted in compliance, investments, retirement plans, RIA, RIA Compliance, securities
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, retirement plans, RIA, RIA compliance
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Investment Advisers and Outsourcing
Outsourcing is definitely one of the hot topics with investment advisers. Most investment advisers I talk to about outsourcing feel that outsourcing asset management and/or compliance responsibilities will allow them to concentrate more on building up their assets under management and, consequently, their fees. … Continue reading
Posted in compliance, investments, retirement plans, RIA, RIA Compliance, securities
Tagged 401k, compliance, retirement plans, RIA, RIA compliance, risk management
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The Little Known Win-Win Fiduciary “Gotcha”
It is well-established that investment advisers are fiduciaries. Fiduciary law is based primarily on principles developed under agency law and trust law. When you mention fiduciary law, most people immediately think of the duty of loyalty, the requirement that a … Continue reading
A Pure Heart and an Empty Head Is No Defense
Unbeknownst to many investment advisers, it is their responsibility to educate themselves as to applicable legal standards for their advisory practices. Investment advisers affiliated with a broker-dealer often assume that the broker-dealer will keep them updated as to any compliance … Continue reading
The Prudent Investment Fiduciary Rules 