Fi360

Fiduciary Links: Are you ready for your first SEC exam?

Posted by fi360 Team on March 03, 2014

>>> In his most recent Fiduciary Corner column for InvestmentNews, fi360 CEO Blaine Aikin highlights SEC's initiative to examine many advisers who have never before been examined. There are currently 4,000 SEC-regulated RIA firms who have never been subject to an SEC exam. The new initiative will result in approximately 25% of those firms to finally be examined.

Blaine makes the case that whether or not your firm does become targeted for an examination, now is the time to start preparing for it. For one, you don't want regulators to bring to light any deficiencies which you yourself could have uncovered and corrected proactively. In addition, the exam prep process is a great opportunity to evaluate how well your operations are aligned with your business strategy. If you are always ready to demonstrate and justify how your practices are aligned with your business strategy and the best interests of your clients, you are also ready for a minimally disruptive examination and to succeed, in general.

Read Blaine's entire column at InvestmentNews.com.

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