Is there any law unique to NC that would prohibit a hybrid advisor? The goal is to be an an SEC registered RIA and also have an affiliation with a BD. This is very commonplace today but we were informed of some NC issue but have not been able to find anything in the NC statute. Help please.
I'm a Managing Director for a NC headquartered BD and I have not heard of any NC issue. We have a couple RIAs who use our BD, but we will not accpet any new advisors under those premises. I would be surprised if more BDs don't got that route as well. It just isn't worth all the extra work for your FINRA audit b/c the BD is still responsible for monitoring the RIA business even if it isn't run through the BD.
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