Investment Advisory
Practice Areas
Financial Services Litigation & Regulation
Strategic Discovery & Information Management
Looking Forward
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.