More On Legal & Compliancefrom The Advisor's Professional Library
- Updating Form ADV and Form U4 When it comes to disclosure on Form ADV, RIAs should assume information would be material to investors. When in doubt, RIAs should disclose information rather than arguing later with securities regulators that it was not material.
- Client Commission Practices and Soft Dollars RIAs should always evaluate whether the products and services they receive from broker-dealers are appropriate. The SEC suggested that an RIAs failure to stay within the scope of the Section 28(e) safe harbor may violate the advisors fiduciary duty to clients, so RIAs must evaluate their soft dollar relationships on a regular basis to ensure they are disclosed properly and that they do not negatively impact the best execution of clients transactions.
In a field where they make up barely 25% of practitioners, women in wealth management are changing the style and tone of the profession. Securities and Exchange Commission Chairman Mary L. Schapiro heads the Top 50 Women in Wealth Management named by our sister publication Wealth Manager. in their May issue and she's certainly gotten the attention of columnnist Bob Clark, but she's not the only woman on the list worthy of attention.
Being named to the Top 50 is not about books of business or assets under management. Rather, the magazine looked for the leaders, influencers and mentors, in short women who excel in a profession where their influence belies their numbers.
You can read more of Kate McBride's interview with Mary Schapiro as well as profiles of some of the 49 other women on the list at wealthmanagermag.com.