RIA Regulations

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May 27, 2009 5:30 pm

How does RIA regulation compare B/D RR regulation?


I need to inform my cmpliance dept a month in advance before holding a seminar.  Is an RIA as micro-managed?  Thanks for your response.
 
Purpose.
May 27, 2009 7:04 pm
purpose:

How does RIA regulation compare B/D RR regulation?

I need to inform my cmpliance dept a month in advance before holding a seminar. Is an RIA as micro-managed? Thanks for your response.



Purpose.





BD/RR Regulation - pain in the tail, regulated for the lowest common denominator, and risk averse. You can't send out a letter advising the client of ANY tax benefits, or estate planning recommendations... they don't want you rendering that type of wealth management advice.



RIA Regulation - Not micro-managed. Just disclose properly, and you are free to conduct your business. If you own the firm, and have a compliance person, your turnaround for compliance matters is a matter of an hour or so... certainly not a month. If you want to write a letter advising the client that they need to create a trust for their wife in order to capitalize on the unified tax credit at death, then so-be-it.... write it.



We can host a seminar tomorrow, if need be.



C

May 27, 2009 7:45 pm

Thanks Captain. 

 
Purpose