United States Financial Advising Legal Blog

It is unsurprising when a registered investment advisor (RIA) chooses to part ways with a firm where his or her career has stalled or just not risen to desired heights. What is surprising to many in the investment community is that many RIAs are now breaking away from firms where they have seen u...

The Securities and Exchange Commission's (SEC) Division of Examinations (EXAMS) recently announced its new examination priorities where investment advisers are concerned. While the majority of the exam priorities are the same as in previous years, there are a few changes that are more in line wit...

Noncompete agreements are less popular than they once were, but they're sometimes still included in employment contracts. Especially for those working in sensitive positions, including financial professionals with access to client information, noncompete agreements are a standard part of working ...

If you're just starting a financial advisory firm, the last thing on your mind is likely what to do if you have to terminate an employee. However, that day will come sooner or later, and you need to be prepared. In this industry, one of your most crucial responsibilities is protecting client and ...

There are many investment options from which investors can choose. Offerings that are nuanced or appear to offer investors high yields may stand out from the pack.  It's your fiduciary duty as a financial advisor to be clear with your clients about the benefits and risks that they might derive by...

Running a business is not an easy task to manage, but it can be nearly impossible without the help of a reliable workforce. It is essential to be an effective leader for your workforce, as poor leadership can negatively affect your company. Everyone wants to be a good manager for their company, s...

Last month, Morgan Stanley terminated a veteran Boca Raton broker with more than a billion dollars in client assets in his management portfolio. The broker began working for Smith Barney — Morgan Stanley's predecessor — in 1989 and had spent his entire 31-year career with the company. At the time...

You have made the decision to start your own firm – congratulations! It's an exciting professional milestone for you and your new employees. There are a lot of key details to be taken care of, among them the creation of an employee handbook. This document is absolutely essential. It should be com...

For any emerging wirehouse, financial advisement company or brokerage, your employees are among your best assets. They can, however, also become a huge liability if your employer-employee relationship sours. Understanding how to minimize the potential for serious conflicts is key to your company'...

If you've been a financial advisor for a while, you may dream of one day breaking away from the big firm you work for. You may want more autonomy, the ability to set your own hours and use your own financial planning philosophy more when you work with clients. However, starting your own financial...

You've spent the last 15 years working for a major financial institution. You've learned an incredible amount on the job, far beyond what you learned in school, but you've grown tired of working for another corporation. You want to leave and open your own office.  That sounds simple enough, but y...

In response to the spread of COVID-19, state and federal governments implemented a series of laws, regulations, and executive orders requiring employers, including most RIAs, to provide sick and family leave to certain employees. RIAs and other independent financial advisors must be aware of thes...