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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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What if Compliance Accuses You of a Firm Policy Violation?

On Wednesday, while on vacation, an advisor got a call from his broker-dealer’s compliance department. It was from a young woman who was fairly new to the compliance team. She accused him of altering client-signed documents and cutting and pasting a client signature. In essence, the financial advisor was being accused of fraud.