- What Financial Advisors Need to Know About Email Archiving
Ensuring compliance with regulatory guidelines is an important task for registered investment advisors (RIAs), broker-dealers and other financial professionals. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) set the standards for compliance, including rules for financial advisor email archiving. And understanding your obligations is critical for avoiding compliance infractions. Want… read more…
- Fiduciary Duty Checklist for Retirement Plans
Meeting the fiduciary duties of a retirement plan is important for both advisors and clients. Fiduciaries have the obligation of serving the best interests of their clients. And a fiduciary checklist can help you meet those legal and ethical standards, manage risks and safeguard the financial well-being of your clients. Ready to grow your client… read more…
- SEC Regulatory Filing Deadlines for Financial Advisors
Registered investment advisors are subject to SEC rules, and there are several important regulatory deadlines to be aware of. These deadlines determine when specific forms must be submitted to the SEC to meet compliance requirements. Are you wondering: When is Form ADV due? What’s the deadline for filing annual cybersecurity disclosures? Below is a list… read more…
- Form 56, Notice Concerning Fiduciary Relationship
Acting in a fiduciary capacity expands your ethical responsibilities to clients, but it can also add to your paperwork. One document you’ll need to familiarize yourself with is IRS Form 56, Notice Concerning Fiduciary Relationship. It’s important to know when this form is required and what information to include. Ready to grow your client base?… read more…
- Compliance Checklist for Your RIA Firm
One of the biggest challenges for registered investment advisors (RIAs) is keeping up with the wide range of compliance rules they must follow. RIA compliance requirements stem from the Investment Advisers Act of 1940 as well as state-level regulations, covering areas like recordkeeping, written policies and procedures, annual reviews and client communications. Advisors also need… read more…
- Financial Data Protection Laws Advisors Need to Know
Financial data protection laws exist to regulate the way that consumers’ information is managed and shared. Some of these laws are applied at the federal level, while others are state-specific. Advisors who offer services abroad may also be subject to financial privacy laws passed by other countries. It’s critical to know which laws you must… read more…
- Who Is Exempt From Registering as an Investment Advisor?
Understanding who is exempt from registering as an investment advisor can be important for those entering the financial advisory field. The Dodd-Frank Act and SEC regulations outline specific exemptions for private fund advisors, venture capital advisors and certain foreign advisors. Exemptions also apply to various professionals and entities, including lawyers, accountants, teachers, brokers and dealers,… read more…
- Potential Consequences of Breaching Fiduciary Duty
Breaching fiduciary duty can lead to significant penalties, impacting both financial advisors and their clients. Fiduciary duty mandates advisors to act in the best interest of their clients, and violations can result in severe legal and financial repercussions. Penalties for breach of fiduciary duty include hefty fines, restitution payments and potential imprisonment. Understanding the severe… read more…
- Financial Advisor Marketing Compliance Checklist
Financial advisor marketing compliance involves adhering to regulatory guidelines while promoting financial services. Firms must align their marketing efforts with rules set by the SEC, FINRA and state regulators to avoid potential violations. This includes accurate advertising, proper disclosures, and compliance with testimonial and endorsement regulations. Understanding advisor marketing compliance helps maintain credibility and ensures… read more…
- Financial Advisor Social Media Compliance Checklist
Social media can be a powerful way to market your advisory business and connect with your ideal client base. Whether you leverage multiple platforms or just one to promote your brand, it’s important to keep compliance in sight. Knowing what you can – and can’t – post can help you avoid potentially costly fines and… read more…
- Compliance and Risk Trends for Financial Advisors in 2025
Failing to meet compliance guidelines can be costly for your business. The SEC can – and does – fine broker-dealers and investment advisors who fail to comply with recordkeeping rules and other compliance requirements. It can be challenging for busy advisors to keep up with the constant changes to regulatory guidelines, but monitoring compliance trends… read more…
- How Much E&O Insurance Costs for Financial Advisors
Errors and omissions (E&O) insurance is designed to protect you from liability claims related to the advice you offer your clients. While the Securities and Exchange Commission (SEC) does not require registered investment advisors to have E&O insurance, some states do. If you’re required to have coverage, or you simply want to protect your business,… read more…
- SEC Email Compliance Rules for Financial Advisors and RIAs
Email marketing is a great opportunity to connect with clients and nurture stronger relationships. You can blast out the latest news and updates about your firm, share helpful investment tips or offer your opinions on recent market happenings. SEC email compliance rules govern what you can and can’t do when sending email newsletters to clients.… read more…
- Website Compliance Rules for Financial Advisors
A professional website is an instrumental part of a successful financial advisor’s marketing plan. As investors increasingly turn to the internet to search for financial advisors, having an established online presence can be invaluable. As you build out your digital footprint, it’s important to ensure that you’re observing financial advisor website compliance rules. Ready to… read more…
- Client Confidentiality for Financial Advisors
Financial advisors have a responsibility to keep client information confidential. This responsibility is laid out by professional organization ethical standards, as well as by law. Financial advisors can only share client information without the client’s permission in limited circumstances, and must take steps to ensure that client records are safe from outside eyes. Confidential information… read more…
- What Are Regulatory Assets Under Management (RAUM)?
Regulatory assets under management (RAUM) represent the total market value of investments that a financial institution manages for its clients, calculated according to guidelines set by the Securities and Exchange Commission (SEC). RAUM can indicate much about a firm’s size, scope and regulatory standing. It’s also important to note that RAUM and AUM are calculated… read more…
- What Is SEC Form PF?
One of the most important aspects of running an advisory business is ensuring that your firm complies with state and federal regulations. That includes knowing which documents you’re required to submit to the Securities and Exchange Commission. SEC Form PF is a requirement for investment advisors who manage private funds. It’s important to understand when… read more…
- Understanding IRC Section 212 and Advisor Expense Deductions
As an advisor, you might give clients tax advice but it’s also important to know how to handle your business’s tax filing. The Internal Revenue Code includes provisions that allow you to deduct certain expenses related to operating your business. Claiming deductions can help you reduce your taxable income for the year, though it’s important… read more…
- What Is Regulation Best Interest (Reg BI)?
In 2019, the Securities and Exchange Commission adopted Regulation Best Interest (BI), redefining standards of professional conduct for broker-dealers and associated persons. The standard, which falls under the Securities Exchange Act of 1934, requires broker-dealers to follow the best interests of their clients when recommending securities or investment strategies that involve securities. Adhering to this… read more…
- What Are Reportable Securities for Financial Advisors?
The Securities and Exchange Commission (SEC) imposes certain rules on registered investment advisors governing ethical behavior. Rule 204A-1 of the Advisers Act outlines minimum standards for establishing an advisor code of ethics, including the treatment of reportable securities. Ensuring these standards are met is critical for remaining compliant with federal regulations. SmartAsset’s Advisor Marketing Platform… read more…
- How to Find Compliance Solutions for Financial Advisors
Financial advisors may need to find compliance solutions to ensure adherence to regulatory requirements, mitigate legal risks and maintain trust with clients and regulatory authorities. To find a solution, you may start by looking for firms with a track record in providing comprehensive compliance solutions that are tailored to regulatory requirements, or seek recommendations from… read more…
- What Are the IAR Continuing Education Requirements?
Investment adviser representatives (IARs) who provide financial advice to clients now have to complete annual continuing education in a growing number of states. As of early 2024, 19 states plus Washington, D.C., and the U.S. Virgin Islands have put in place or plan to implement rules requiring IARs to perform 12 hours per year of… read more…
- Guide to Code of Ethics for Financial Advisors
Financial advisors are expected to uphold certain ethical standards when managing client finances and offering advice. Establishing and adhering to a code of ethics can allow you to build a more sustainable business if you’re able to foster trust and client loyalty. SmartAsset’s Advisor Marketing Platform can help you add new clients at your desired… read more…
- Understanding Common Financial Advisor Regulations
Financial professionals are subject to regulation to ensure that they’re following industry standards at all times. Several organizations are responsible for establishing and enforcing financial advisor regulations in the U.S. If you’re interested in a career as an advisor, it’s important to understand the guidelines that you’re expected to adhere to. SmartAsset’s Advisor Marketing Platform can… read more…
- RIA Code of Ethics SEC Requirements for Advisors
The Code of Ethics Rules is one of many U.S. Securities and Exchange Commission regulations that financial advisory firms must follow when they register with the federal agency. This rule, which was implemented in 2004, establishes the standards of conduct and behavior for registered investment advisors (RIAs) to promote integrity, transparency and accountability. Want to… read more…