Most managers spend March updating and filing their Form ADV with the SEC. It's due by March 31 with the prior year's information. Wondering how to get the information out of PortfolioCenter? Here's one example. Item 5 Information … [Read more...]
SEC Audit: How to save your fee file
During the last two SEC Audits I "enjoyed" with my managers, the SEC Auditors requested a spreadsheet containing the "value of each client's account at end of period that was used for purposes of calculating its advisory fee for the most recent … [Read more...]
SEC Audit: Producing a Portfolio List
When the SEC Auditor knocks on your door, one item she will request is a spreadsheet containing basic information about your clients. The easiest way to retrieve this information is using the Export Wizard. Before beginning, clarify the … [Read more...]
SEC Audit: Beware having client passwords
One manager here in Virginia recently enjoyed a surprise SEC Audit. When the examiner learned she had client user ids and passwords (so that she could access their 401k plans to retrieve statements for manual entry), the examiner had her log on to … [Read more...]
SEC Audit: 5 ways to prepare PortfolioCenter
The Securities and Exchange Commission intends to visit all advisors who have never been examined before 2015 ends. In addition to the list of documents you should collect, here are 5 ways to streamline your PortfolioCenter data so you'll be … [Read more...]
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