More On Legal & Compliancefrom The Advisor's Professional Library
- Pay-to-Play Rule Violating the pay-to-play rule can result in serious consequences, and RIAs should adopt robust policies and procedures to prevent and detect contributions made to influence the selection of the firm by a government entity.
- Meeting and Exceeding Clients and Regulators’ Expectations Although it can be difficult, there are ways for RIAs to meet or exceed client expectations, increase customer satisfaction, and help firms retain current clients and attract new ones.
Before a room of people or in an intimate dinner or an interview with a journalist, Tom Giachetti is never at a loss for words. Whether it's talking about his New Jersey childhood or explaining to a room of advisors why having a formal Investment Policy Statement may not be the best idea in the world (unless it has some specific limiting language and has been signed by the client, for a start), Giachetti can seem glib. But that golden tongue masks a deadly serious approach to the law and giving advice that I was reminded of when I asked him in the interview for this article about the meaning of, to me at least, a confusing Supreme Court ruling that had taken place the day before the interview regarding mutual fund advisors' fees.
After all, I figured, Mr. Loquacious could give me a quick, juicy quote that I could use to spice up a news story we were doing on the ruling. I was wrong. "Jamie," Giachetti said quickly, after ascertaining exactly which Scotus ruling I was referring to, "I can't comment; I haven't studied the ruling." It seems that Mr. Giachetti likes to know what he's talking about before he opens his mouth.