Financial Services Litigation & Regulation
Strategic Discovery & Information Management
We represent investment advisors and RIA investors in a wide variety of matters. Our services include performing legal and compliance due diligence for our clients’ acquisitions of RIAs. We work directly with the RIAs to conduct risk assessment reviews, annual compliance reviews, and compliance training. We also conduct internal investigations; represent RIAs during SEC and state examinations, investigations, and enforcement actions; and advise RIAs on regulatory and compliance matters.
In addition, we offer a full suite of transition-related services to advisors forming new RIAs, including advising on employment transition and risk mitigation issues; entity formation; Form ADV completion and filing; and drafting business agreements, advisory contracts, compliance manuals, and code of ethics documents.
We also represent broker-dealers, RIAs, and their advisors in litigation stemming from general commercial disputes, as well as litigation arising from advisor departures and recruitment. We have successfully litigated TROs in federal and state courts across the country, negotiated favorable settlements on our clients’ behalf, and defended advisors in arbitration proceedings brought before FINRA and other arbitration venues.
Recent reports suggest that the record setting growth of the investment advisor sector should continue well into 2020. Strong growth both in regulatory assets under management and in client numbers should continue to create opportunities for those seeking to acquire or transition advisory businesses to new platforms.
Given this trend, and an active year by the SEC promulgating rules and issuing interpretive guidance, we expect that the SEC will focus intently on the economic relationship between advisors and their clients—especially retail clients. We anticipate that the SEC will scrutinize disclosures regarding the nature of the client relationship and conflicts of interests, paying particular attention to the sources of revenue that advisors, and their affiliated entities, receive in connection with advised account.