Investment Adviser Services
A fiduciary duty is easy to state and hard to document. Most examination findings are not about bad advice — they are about what the file could not show.
The practice
Formation, operation and examination.
The firm counsels registered investment advisers — retail, private fund and dual registrants — on formation, operations and regulation under the Investment Advisers Act of 1940, the Investment Company Act of 1940, the Securities Act of 1933 and the Securities Exchange Act of 1934.
At formation that means choice of entity, the governing documents that go with it, capital structure, registration with the SEC or the states, and getting Form ADV to say what the business actually does. After that it becomes continuous: conflicts of interest, fiduciary duty, advisory agreements, solicitor arrangements, advertising and performance claims, written procedures and a compliance program that is used rather than filed.
When an examination arrives, the work is largely determined by what was built earlier. Preparing the response, addressing deficiencies and, where it goes further, defending an enforcement proceeding.
Services