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Form ADV updates are due in just a few short months (by March 31st).

Now is the time to rethink your RIA firm’s compliance and regulatory support. As we regain our footing in 2021, are you confident that your firm’s filings are in order?  In such turbulent times, regulators require RIAs to exhibit organizational resiliency. The pandemic brought about new issues, such as PPP loan disclosures, and it added urgency to business continuity matters, …

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When setting up a new RIA firm, should advisors use template services or professional compliance teams?

Launching your own registered investment adviser (RIA) firm is an exciting, but complicated, new chapter in your career as a financial professional. From drafting the ADV to communicating with regulators, registering a new RIA firm can be an overwhelming task. Although online document template services are cheap and simple to use, those services don’t come without their drawbacks.  This past …

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AdvisorLaw’s new “Rideshare Program” helps financial advisors expunge customer disputes and U5 termination disclosures

AdvisorLaw is now offering a “Rideshare Program” for financial advisors seeking to expunge customer dispute or U5 termination disclosures for the entire month of December.  With over 40 million visitors to BrokerCheck® every year, you and your teammates can’t afford to lose a client over a meritless disclosure on your record. But we can help to restore your good name. If you …

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Succession: Who will inherit your book of business?

Advisory practices around the U.S. have been faced with a new priority focus: succession planning. With many of the youngest baby boomers approaching their 60s, it’s alarming to learn that only one-fourth of all advisors have a succession plan in place. Without a plan, many retiring advisors risk losing decades of efforts spent building their client relationships to another advisor who may not provide the level of service that their clients have come to expect.

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Expungement Week 2020

Over the last five years, Doc Kennedy and AdvisorLaw have been dubbed the “800-pound gorilla” when it comes to FINRA arbitration cases. That reputation has been earned by absolutely dominating the FINRA arbitration landscape. ​Maybe it’s the quarantines, the lockdowns, or the imminent FINRA arbitration fee increases, but the gorilla is eager to help this year. Doc has decided to give back …

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Advisors pursuing customer dispute expungements before September will pay a fraction of the new cost.

As published in the Federal Register, on June 1, 2020, the SEC approved FINRA’s proposed Rule changes to the customer dispute expungement process. Release No. 34—88945; File No. SR—FINRA—2020—005.  In short, the following provisions of the recently-approved Rule apply to all matters in which expungement of a customer dispute disclosure is requested as a claim or counterclaim: The minimum filing …

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Is A Social Media Post Worth Your Job?

Lately, AdvisorLaw has been hearing from more and more financial advisors who have imperiled their careers with social media posts and comments. We like to say that “it’s a free country,” and it is — the First Amendment guarantees that the government won’t put you in jail or punish you in any way for what you say. However, it does not guarantee …

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Working from home? Stay socially distant, virtually connected.

When working remotely, there are some things to keep in mind to remain compliant and productive. First, look up your firm’s Business Continuity Plan.Be sure you’re following the written policy and any written guidance provided by your supervisor or home office compliance. Ensure your communications are properly monitored.Once you’re sure that you’re in line with the written BCP, consider whether …