Best Practices

Best Practices for Investment Advisers
  • Prepare and maintain all required records, including financial records. Back-up electronic data and protect records. Document checks forwarded.

  • Review and revise Form ADV and disclosure brochure annually to reflect current and accurate information.

  • Review and update all contracts.

  • Prepare and distribute a privacy policy initially and annually.

  • Deliver disclosure brochure initially and annually as required.

  • Review all advertisements, including website and performance advertising, for accuracy.

  • Calculate and document fees correctly in accordance with contracts and ADV.

  • Prepare and maintain written compliance and supervisory procedures relevant to the type of business to include business continuity plan. Assess and update periodically.

  • Implement appropriate custody safeguards, as applicable. Pay close attention to direct fee deduction invoices.

  • Keep accurate financials. File timely with the jurisdiction. Maintain surety bond if required.

  • Make sure client’s investment policy and suitability information are current.

  • Disclose soft dollars or benefits received.

  • Prepare and maintain current client profiles.

  • Review solicitor agreements, disclosure, and delivery procedures.
  •            North American Securities Administrators Association |