RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Articles written by Les Abromovitz, Columnist


Headline

Publish date


Les Abromovitz: In a discussion of this issue, one attorney at NCS argued that the individual was giving the Facebook page a thumbs-up, not the advisory firm. It remains to be seen if regulators will make that distinction.

Why compliance experts are apt to dislike Facebook

When does a click constitute an endorsement?

May 13, 2011 – 1:08 PM

Les Abromovitz: Resolving these issues at the firm level reduces the risk that someone will take their complaint to regulators.

Potential whistleblowers have little to lose and millions to gain with the SEC's reward system

Here's how to keep complaints from turning into tip-off phone calls

April 14, 2011 – 1:16 PM

Les Abromovitz suggests that advisors file their ADV forms even if they're not happy with the content: 'You are at least making a good faith effort to be compliant.'

How suitable are your investment strategies? The SEC cares, a lot.

New ADV form heightens attention to the issue

March 30, 2011 – 2:19 PM

Les Abromovitz: The fact that another adviser is engaging in the same conduct does not make it compliant. For example, you won’t help your cause by showing examiners other RIA websites that are just as noncompliant as yours is.

What not to do during a state or SEC audit

The four tempting -- but ultimately counterproductive -- tacts advisors sometimes take

March 8, 2011 – 2:37 PM

The mere fact that clients give you their e-mail address should not be construed as consent to delivery of important documents.

How to avoid that fatal blow to client communication

Keep tweets, text messages and e-mails in their proper places

February 14, 2011 – 3:03 PM

Les Abromovitz: Glowing remarks by clients may count as testimonials.

Considering hosting a radio show? The SEC may tune in.

Radio programs and commercials pose compliance complications. Disclosure helps.

January 20, 2011 – 2:30 PM

Les Abromovitz: Recently, one RIA firm that I work with claimed to have created hundreds of unique solutions. Those kinds of claims invite a securities examiner to ask for proof that the firm’s solutions are truly out of the ordinary.

The marketing naughty and nice list

Catchwords and strategies likely to draw regulators' ire -- and others that pass anyone's test

December 23, 2010 – 2:51 PM

Les Abromovitz: Working on an elected official or candidate’s campaign may also fall within the definition of “contribution” found in the pay-to-play rule.

SEC's new pay-to-play rules call for you to investigate your employees' political giving

Surprisingly broad regs kick in next quarter, covering RIAs that do business with the government

November 30, 2010 – 4:12 AM

Les Abromovitz: Aside from the issue of whether a designation or certification is misleading, all financial services firms should be concerned about investment advisers who claim to have credentials they did not earn.

Why you should pay attention to proliferating advisor credentials

Les Abromovitz heads to Nebraska to figure out which letters are worthwhile -- and which take little more than a check and a pulse to earn

November 2, 2010 – 6:03 AM

Les Abromovitz: The SEC’s observation was surprising.

So you're an RIA. Be careful about calling yourself one, says the SEC

Beware of using the term as focal point for marketing; some states may have competing regulations

October 11, 2010 – 4:41 AM

Les Abromovitz: Some advisers designate one particular person who is responsible for addressing questions pertaining to seniors.

When it comes to senior investors, regulators are breathing down your shoulder

A Colorado advisor who oversold hedge funds may pay a price

September 21, 2010 – 3:26 AM

Les Abromovitz: Your narrative should use the active voice. Words must be definitive and concrete. As always, you should be looking for language that unsophisticated investors can understand.

Now, the SEC wants you to be a writer, too?

ADV Part 2 form calls for clear language, and detailed descriptions even of the people working for you

September 2, 2010 – 4:32 AM

Les Abromovitz: You need to be extremely careful when conducting free lunch seminars, since regulators are keeping a watchful eye on them.

Four active marketing strategies that can lead to compliance trouble

How far can RIAs go with advertisements? Part deux

August 10, 2010 – 3:47 AM

Les Abromovitz: You can establish a dialogue with the SEC -- but beware of asking to change your audit to a different day.

Hello! The SEC wants your records by tomorrow

One advisor had a day to produce voluminous records. That's the kind of request likely to grow more common as the SEC performs more unscheduled audits

June 30, 2010 – 6:40 AM

Les Abromovitz: For compliance purposes, image must be grounded in reality. Advisers should not attempt to project the image that they are miracle workers who will be successful in every market.

Compliance GPS: It may be a mistake to project too successful an image, especially in a post-Bernie Madoff world

Hint: photos of you on a yacht may not be what your clients are looking for right now

May 25, 2010 – 4:57 AM

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo