There are many good reasons why an advisor might decide to break away from a broker-dealer or investment advisor — even one that they have a strong relationship with.
At JLG, we understand that clients may seek more independence and greater financial rewards. However, with greater independence often comes more responsibilities, including compliance oversight. JLG will help you to address these real challenges and will provide you with the tools and solutions you will need to take your career on to the next level.
Should you start your own investment firm? Or, should you become an independent representative of an existing independent BD or RIA instead? The answers depend on whether you want to get rid of the "back office" entirely and are willing to take on the extra workload required to become completely independent. Whether you prefer to oversee administrative functions, such as operations and compliance, or have someone else do that for you is just one consideration. JLG helps our clients to evaluate these and other factors which you should consider prior to breaking away.
Services our attorney and supporting team of professionals provide include:
- Evaluation of current employment or independent contractor agreements
- Discussion of SEC, FINRA and state regulatory considerations
- Choosing an association model
- Finalizing your business plan
- Selection of a business structure (LLC, S-Corp, etc.)
- Setting up entitlement to Web CRD and IAPD systems for registration filings
- Assistance with the completion of Form BD or Forms ADV, Forms U-4 and other required forms for your association model
- Creation of client disclosures, including privacy notices, offering memorandums, marketing disclosures, etc.
- Preparation of client agreements, including financial planning, investment management and investment advisory agreements
- Preparation of written policies and procedures
- Processes for purchasing insurance for your business
- Assessment of compliance and operational requirements
- Selection of investment custodians
- Enhancement and testing of various internal controls
- Ongoing counsel and advice regarding day-to-day operations, regulatory proposals, rule changes and more
Jacko Law Group, PC advises clients throughout the United States on legal issues and considerations involved with leaving one employer for another or venturing out as an independent.
For more information or to speak with a securities attorney — contact our San Diego law office directly at 619-298-2880 or contact us online.
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