How Firms Can Work to Protect Senior Investors

Published on Nov 26th, 2019

Baby boomers are growing older, and that is transforming our national demographics. By 2035, it is estimated that 78 million senior citizens will live in the United States. The median age of U.S. citizens would rise from 38 today to 43 by 2060. Those baby boomers also control a lot of assets, including more than half of household wealth. Unfortunately, this also means the number of seniors who will become targets to be tricked, conned or exploited for their wealth will remain high. As seniors age, they become more vulnerable to scams by people posing as "helpers." It can be harder for them…

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How to Prepare for an SEC Examination

Published on Aug 12th, 2019

No matter how smoothly your firm operates or how diligent your compliance team is, the prospect of an SEC examination strikes fear, stress and anxiety into investment advisers and registered investment companies. Because regulations are constantly in flux, it's difficult to fully gauge how your compliance policies and procedures stand up to the requirements. For some firms, the first real test of their compliance program's effectiveness happens during an SEC examination. Unfortunately for those firms, about 75 percent of exams over the past five years have found deficiencies within a firm's compliance program. As the SEC's National Examination Program continues to ramp…

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The Impact of GDPR on the Asset and Wealth-Management Industry

Published on Aug 12th, 2019

Regarded as the largest data regulation act in modern European history, the General Data Protection Regulation (GDPR) has taken the compliance world by storm.  Adopted in April of 2016, the new regulation addresses the mounting concern over the use and security of private consumer information online — with its sight set on a complete regulatory overhaul. GDPR becomes effective on May 25, 2018. As that date rapidly approaches, it's no surprise that questions and concerns for GDPR and the wealth-management industry have blossomed. As written, GDPR's impact on fund, investment and asset managers could be large, costly, and time consuming.  …

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Why Is Cybersecurity Important for Investment Advisers?

Published on Aug 12th, 2019

Cybersecurity remains vital for investment advisers. As new cyber threats are identified, cybersecurity will remain paramount for these advisers both now and in the future. The PricewaterhouseCooper (PWC) “State of Information Security Survey 2016” revealed 91 percent of businesses currently follow a risk-based cybersecurity framework. Investment advisers, meanwhile, must be able to identify the key issues associated with cybersecurity as well as the best ways to manage these problems. Fortunately, cybersecurity guidance is readily available — but first, it is important to examine why cybersecurity is important for investment advisers. Get Cybersecurity Guidance Today About Cybersecurity Compliance Services Why Is…

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Guide to SEC Investment Adviser Registration

Published on Aug 12th, 2019

Becoming a registered investment advisor (RIA) is not merely an industry best-practice. In most cases, it's a regulatory obligation that stamps more than security and quality assurance onto your services — it means you or your advisory firm stay in operation. Under the Dodd-Frank regulatory act of 2010, updates were made on the registration qualifications and certification process for investment advisors. These updates now outline the parameters under which an investment advisor can't merely rely on state registration and must enroll with the U.S. Securities and Exchange Commision (SEC) itself: You or your firm hold $100 million or higher in assets…

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