More On Legal & Compliancefrom The Advisor's Professional Library
- Risk-Based Oversight of Investment Advisors Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.
- Client Communication and Miscommunication RIA policies and procedures must specify what type of communications should be retained. The safest course of action is for RIAs to retain all communicationsto clients, from clients, and about client accounts. To comply with fiduciary obligations, communications must be thorough and not mislead.
This week in new hires, Ashley Cooke became director of business development at Maglan Capital, John Ostrand became trust officer for U.S. Bank’s Private Client Reserve in Minneapolis, and the Palm Beach Private Client Reserve office named Robert Stevenson managing director for Florida.
Also, the Penn Mutual Life Insurance Co. welcomed Anthony Williams, Bill Barnes went to Agecroft Partners, and Dustin Zachmeyer joined Griffin Capital Corp.
Maglan Capital Announces New Director of Business Development
Maglan Capital announced the addition of Ashley Cooke as the director of business development.
Prior to joining, Cooke was a vice president in the New York office of Cliffwater and was a member of the client services team. Her previous experience also includes business development and investor relations roles at Gracie Capital Partners and Stanfield Capital Partners.
John Ostrand Named Minneapolis Trust Officer for Private Client Reserve
U.S. Bank announced that John Ostrand (right) has been appointed trust officer for The Private Client Reserve of U.S. Bank. In his new position, he will administer trusts of high-net-worth clients, including coordinating financial, tax, investment and legal services for clients and trusts.
Before joining U.S. Bank, Ostrand worked as a senior trust officer, portfolio manager and wealth advisor with U.S. Trust’s Minneapolis office. He also spent a number of years as a branch manager with Charles Schwab & Co. in St. Paul, where he also managed offices in Rochester and Sioux Falls.
U.S. Bank’s Private Client Reserve in Palm Beach Names Stevenson
U.S. Bank announced that Robert Stevenson (left) has been appointed managing director for Florida and senior portfolio manager for The Private Client Reserve of U.S. Bank in Palm Beach. In his new position, he will provide clients with integrated and customized investment services.
Stevenson brings 19 years of investment experience to his new post. He was previously a senior portfolio manager for The Northern Trust Co., where he worked for 14 years with HNW individuals, families and foundations, including assisting team members with new business. Additionally, he worked at SunTrust Bank of South Florida in the personal and corporate trust departments.
The Penn Mutual Life Insurance Co. announced the recent appointment of Anthony Williams as financial advisor of Empire Wealth Strategies, the company’s New York City career agency.
With more than eight years of experience in the financial services industry, Williams regularly conducts seminars, workshops and meetings with individuals and small-business owners to educate and prepare them to make financial decisions that best fit their needs.
Agecroft Partners Hires Public Pension Fund Marketing Head
Agecroft Partners has hired Bill Barnes as a managing director, head of public pension fund marketing. His responsibilities will include assisting with due diligence on potential managers the firm may represent, and managing the firm’s U.S. public pension fund strategy.
Barnes brings more than 20 years of institutional experience marketing to pension funds in the U.S., including senior marketing roles at Schroders, AXA Rosenberg and Neuberger Berman.
Dustin Zachmeyer Joins Griffin Capital
Griffin Capital Corp. announced Monday that Dustin Zachmeyer had joined the firm as vice president, due diligence. Based in the El Segundo headquarters, he will also spearhead the company's research efforts.
Prior to joining, Zachmeyer's experience was primarily focused on the broker-dealer side of the investment business in his previous position as director of product sales and services at Berthel Fisher & Co.
Read the March 6 New Hire Roundup at AdvisorOne.