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Summary: We now are facing the threat of a compromised fiduciary standard that will allow brokerage firms to conduct business as usual. We have seen the SEC issue reports that openly talk about accommodating the brokerage industry’s business model.
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Summary: Of the more than 30,000 independent investment advisors in the country, fewer than a quarter have a succession plan in place, according to numerous studies, and most solo practitioners haven't even identified a potential successor.
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Summary: By this point, all advisors with a Dec. 31 fiscal year-end should have filed their annual updating amendment to Forms ADV Part 1 and 2 with the Securities and Exchange Commission through the Investment Adviser Registration Depository. If any material changes occurred since the last annual updating amendment, advisors should have also delivered to clients at least a summary of such material changes by this point as well.
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Summary: In 2012 the SEC began its presence exam initiative among newly registered investment advisors, with the aim of ensuring compliance with federal securities laws and the RIAs’ own company standards. Now, in 2014, the SEC has announced what it terms the never-before-examined initiative. There are five main areas advisors can tackle now ahead of a potential SEC audit.
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Summary: A psychiatrist wanted to resign from his job at a state teaching hospital and start a small private practice. But he was having trouble making the endeavor pencil out once he factored in paying for his own health insurance. The adviser listened to his client's concerns, but then took a step back to ask a different question.
