 When this happens, the advisor still has a fiduciary duty to clients, and they also have regulatory responsibilities that survive their incapacity,”Patricia Struck, administrator of Wisconsin’s securities division and the chair of NASAA’s . |
Small RIAs May Have to Make Succession Plans
Thomas Coyle | Financial Advisor IQ, September 2014
Read the article online >
Summary: Small and medium-size RIAs may have to start formulating succession plans to be in regulatory compliance. If state financial regulators have their way, firms under their purview — essentially RIAs with less than $100 million under management — will have to show they’ve made arrangements to ensure that clients and their assets are safe if a lone practitioner gets seriously ill, has an accident or dies, writes Financial Planning.
Be the first to comment on this Article
