The Securities and Exchange Commission announced it intends to visit all advisors who have never been examined before 2015 ends.
The SEC prefers their visits to be a “surprise”, so they typically give you only a 1-2 days to collect your documents. One of my managers received notice the Wednesday before Thanksgiving that the auditors would arrive at 8am the Monday after Thanksgiving. He was expected to have the complete list of items ready and waiting for them.
While a complete, accurate and reconciled PortfolioCenter database is of great value during an audit, it is not a magic-bullet. Here’s a collection of articles to help you survive for your review.
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