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Apr 6, 2017 8:16 pm

I'm considering taking on a client that would like to follow one of my models but would like to approve each trade. Currently, my brochure and ADV mention discretionary management only and I only have an advisory agreement for discretionary.


I'm assuming that this would not be a material change and would not require a mid-year brochure update; rather I could make a year-end change to 'Advisory Business' section.

I'm not too keen on hiring a lawyer to draft a non-discretionary IA agreement? Any advice?

Apr 27, 2018 2:49 pm

Wow, no response to this question. I'm curious what you ended up doing?

Aug 21, 2018 7:24 pm

I guess, it would depend on the account size. If it is a large account, you might want to change your business model a bit. If it is a small account, taking a small non-discretionary account might not be worth it.