More On Legal & Compliancefrom The Advisor's Professional Library
- Using Solicitors to Attract Clients Rule 206(4)-3 under the Investment Advisors Act establishes requirements governing cash payments to solicitors. The rule permits payment of cash referral fees to individuals and companies recommending clients to an RIA, but requires four conditions are first satisfied.
- The New and Improved Form ADV Whether an RIA is describing its investment strategy in advertisements or in the new Form ADV Part 2, it is important the firm articulates material risks faced by advisory clients and avoids language that might be construed as a guarantee.
NAVA, Inc., the Association for Insured Retirement Solutions, has a new president and CEO, Catherine Weatherford. She will replace Mark Mackey, who announced his resignation from NAVA in January of this year, on September 3. NAVA says that Mackey will remain with the organization over the short term to assist in the transition.
Weatherford previously served as executive VP and CEO of the National Association of Insurance Commissioners (NAIC), a position she held for 12 years. She has more than 31 years of experience in insurance regulation, government and public policy, according to NAVA.
Clifford Jack, chairman of NAVA, said in a release that "Cathy emerged as the clear choice for a number of reasons. During her 12-year tenure as CEO of the NAIC, Cathy helped unite the group's members into one voice and bring the association to the forefront of insurance regulation issues. I am confident in her ability to achieve the same level of success at NAVA while maintaining the organization's progress on key technology, regulatory and trade group partnership initiatives."