Navigating Model Fees and Net Performance in Investment Advertising Compliance Navigating Model Fees and Net Performance in Investment Advertising Compliance Investment advisers face complex rules when advertising portfolio performance, especially regarding how fees are presented. A key question is whether advisers can show net performance based on actual fees charged historically when the fees expected to be charged to prospective clients are higher. This issue touches on Ru

Navigating Compensation Regulations for Alternative Investments: Do's and Don'ts for RIAs Alternative investments such as private funds, private placements, non-traded REITs, and private credit have become increasingly popular among clients seeking diversification and higher returns. However, these investment types come with complex regulatory challenges, especially when it comes to compensation paid by issuers to Registered Investment Advisers (RIAs). Both the Securities and

Understanding the SEC's Proposed Changes to Small Adviser Definitions and Their Impact on the Industry The Securities and Exchange Commission (SEC) recently proposed updates to the way it defines “small advisers” under the Regulatory Flexibility Act (RFA). While these changes may seem technical, they carry significant implications for investment advisers, especially smaller firms. This post breaks down the SEC’s proposal, explains why it matters, and explores how it could aff

Mastering Fee Disclosures: A Guide for RIAs to Ensure Client Trust and Compliance Clear and accurate fee disclosures are essential for Registered Investment Advisers (RIAs) to build trust with clients and meet regulatory requirements. The Securities and Exchange Commission (SEC) and state regulators have increased their focus on how fees are described, calculated, and charged. This means RIAs must review and improve their fee disclosure practices to avoid enforcement actions,