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Best practices for compliance

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  1. Review and revise Form ADV and the disclosure brochure annually to reflect current and accurate information.
  2. Review and update all advisory contracts.
  3. Prepare a written supervisory procedures manual relevant to the type of business.
  4. Prepare and distribute a privacy policy initially and annually.
  5. Prepare and maintain all required records.
  6. Maintain a surety bond, if required.
  7. Prepare and maintain client profiles.
  8. Calculate and document fees correctly.
  9. Review and revise all advertisements, including performance and advertisements and websites.
  10. Implement appropriate custody safeguards, if applicable.

Source: NASAA


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