Advice to Investment Professionals: Get Assistance Early

    Financial advisors and those holding certifications such as the CFP (“Certified Financial Planner”) designation should not take an inquiry letter from the SEC, FINRA, or the CFP Board lightly. Often, initial correspondence from regulators requests documents and/or information from an investment professional. The communication usually sets forth a date for the production of the requested material/information. These deadlines are critical: if they are missed, there may be severe repercussions for the investment professional. It has been our experience that early intervention by an attorney can (1) simplify or narrow the issues raised by the inquiry letter, and (2) provide the investment professional with the tools necessary to respond to the inquiry with minimal disruption to the investment professional’s business. Our firm assists investment professionals with navigation of the inquiry or complaint process. If you have any questions please contact us.

    Uploaded by: Ryan Gustafson, Esq. September 25, 2014.