My RIA Lawyer

Let's talk about OFF CHANNEL COMMUNICATIONS. Check out this press release from the SEC regarding 16 firms to pay more than $81 million combined to settle charges for widespread recordkeeping failures related to off channel (as in not approved) communications...

https://www.sec.gov/newsroom/press-releases/2024-18

Now is the time to upgrade!!

Our Compliance Services // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...

Let's talk Director of Operations, CEO's, HR, etc. These people usually don’t have compliance experience or interest in this. They probably aren’t looking at rule releases every day. They probably aren’t thinking proactively. They probably aren't reviewing the policies and procedures regularly. That's why you need . Let us take care of what WE know BEST so you can focus on what YOU know BEST!

https://www.myrialawyer.com/services/outsourced-compliance/

Hey everyone, it's Leila, your favorite compliance nerd. And I want to talk to you about something super duper important!

Outsourced Compliance Department Services // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...

Have you ever caught yourself thinking " I don't need insurance, I've never been in an accident"... some business owners have this same mindset when it comes to . Is it worth risking your business, your employees, your family time, etc?

You are risking A LOT by not taking things seriously. Simply put, you can’t focus on growth if you’re focused on compliance.

That's where we come in. Let us take care of so you can focus on business. https://www.myrialawyer.com/services/outsourced-compliance/

Let's Chat - What Workshop Would You ACTUALLY Attend?

👉We want YOUR input!👈

Would you be interested in attending a...
• Compliance Manuals Workshop?
• Succession Planning Workshop?
• Business Continuity Workshop?

Are you an owner of an RIA? Are you afraid of cybersecurity, or lack thereof, in your firm? And how someone could expose you and all of your client's data?

The good news is, there is help for you!!

Challenges RIAs Face// #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...

Let's Chat - What Workshop Would You ACTUALLY Attend?

👉 We want YOUR input! 👈

Would you be interested in attending a...
• Compliance Manuals Workshop?
• Succession Planning Workshop?
• Business Continuity Workshop?

Or are you craving something else entirely?

And the BIG QUESTION - would you prefer an online session or an in-person workshop? Or would you consider hiring Leila to come onsite and lead the workshop at your firm?

We're all ears! Let us know what kind of professional development opportunities would be most valuable and relevant for you and your team.Don't hold back - we want the brutally honest feedback.

After all, we're here to serve YOU.

Drop a comment below or shoot us a DM. Can't wait to hear what's on your workshop wish list!

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Lawyers are taught to think big picture when it comes to how rules and regulations impact a business. It isn’t just about what documents need to be updated or what additional disclosures need to be made. It is thinking about the risk and liability a decision creates or diminishes.

https://www.myrialawyer.com/services/outsourced-compliance/

Let's talk about some recent SEC decisions...
👀👀👀

https://www.tiktok.com//video/7395637074142956831

TikTok · MyRIALawyer Check out MyRIALawyer’s video.

Compliance can't be an afterthought - handing it off to staff without expertise leaves you vulnerable. While consultants can provide basics, they lack the legal expertise to truly protect your firm. The only real defense is working closely with compliance counsel who can guide you through the complexities.

Don't settle for just checking boxes - get the dedicated legal support your firm needs.
https://www.myrialawyer.com/services/outsourced-compliance/

You can’t be reactive in this environment.

You can’t wait for an SEC audit or FINRA exam to get in compliance.

Regulators expect registered investment adviser (RIA) compliance officers to proactively review guidance, risk alerts, and industry changes – and then quickly implement the necessary policies, procedures, and testing to stay compliant.

Failing to take a proactive approach puts your firm and your clients at risk.

In this article, we’ll explore why proactive compliance is essential for RIAs and discuss the key elements of an effective proactive compliance program.

Proactive Compliance: Mitigate Risks & Stay Ahead of Regulators Learn how to stay ahead of regulatory curves, avoid costly pitfalls, and maintain a stellar reputation. Let My RIA Lawyer help you implement an effective compliance strategy today.

Well, it’s finally happened… the Federal Trade Commission (FTC) dropped the hammer on non-compete agreements.

On April 23, 2024, they issued a new rule banning these clauses in all employment contexts. That’s right, no more non-competes for your firm’s employees, independent contractors, or even unpaid workers.

While this move is meant to foster a more competitive job market, it brings along many changes. Changes that you need to start thinking about very, very soon.

The FTC non-compete ban is set to start by September 2024.

So… now is the perfect time to get yourself sorted and stay ahead of the FTC’s non-compete ban.

https://www.myrialawyer.com/ftc-non-compete-ban/

Hear what clients are saying about working with My RIA Lawyer!

Review of My RIA Lawyer How was your experience with My RIA Lawyer?Review by Phillip W. Statler, EA & President of Statler Financial Services, Inc. Visit www.myrialawyer.com for rev...

Compliance Officers Beware: Proactivity Is Key

Regulators expect CCOs to stay on top of all guidance, announcements, and rule changes - you can't be reactive! With so many new rules in the pipeline, CCOs must work closely with leadership to implement policies, procedures, and testing to ensure compliance.

Don't wait for an audit - get ahead of these changes now.
https://www.myrialawyer.com/services/

Have you gotten a call from the FBI???

Have You Gotten A Call From The FBI?? // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...

Attention RIAs: Are you up-to-date on the Marketing Rule? The SEC is watching closely.

https://www.sec.gov/exams/announcement/risk-alert-041724

Don't get caught off guard. Review your firm's marketing practices and disclosures to ensure you're meeting the letter and spirit of the Marketing Rule. Reach out to the team at My RIA Lawyer if you have any questions or need assistance.

https://www.myrialawyer.com/

You are probably losing advisors!!!!

You Are Probably Losing Advisors!! // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...

Staying Ahead of Regulatory Changes

Updates on regulatory developments, simplified explanations of new rules and regulations, and proactive steps to implement and adapt to regulatory changes

https://www.myrialawyer.com/services/

Happy Independence Day

As you celebrate freedom this 4th of July, remember that independence extends to your advisory firm as well.

At My RIA Lawyer, we're proud to help investment advisors maintain their independence and stay compliant - no matter what regulatory changes come your way.

DID YOU KNOW??

There are several new pending rule changes that would require RIAs to institute AML and CIP programs and require documented business continuity and succession plans.
And you NEED a lawyer to get that work done.

Contact Us To Learn More! https://www.myrialawyer.com/services/outsourced-compliance/

Do these pain points sound familiar?

· I don’t have enough time
· I don’t know what I’m doing
· I hate compliance
· I’m behind
· I’m worried about my audit
· I’m worried about getting fined
· I’m worried about being suspended
· I’m worried about my reputation
· I’m worried about losing clients
· I’m worried about disclosures

We hear you. And we have the solutions.

Our last, but definitely not least, 2024 Executive Roundtable Speaker is Leila Shaver, Founder and Managing Partner of My RIA Lawyer! Ms. Shaver will be giving a compliance update, sharing with our members best practices for client communication!

Ms. Shaver defines herself as a compliance nerd. Her extensive knowledge of compliance, decade of legal experience, and comfort working in the grey has made her the go-to provider in the independent space. Ms. Shaver is sought after not only for her expertise, but her willingness to help business owners meet their business goals while complying with state and federal regulation.

We can't wait to welcome Ms. Shaver to this year's Roundtable! Only a few more days until our members gather in Key West!

As we celebrate Juneteenth, a pivotal moment in the ongoing fight for racial justice, it's a time to reflect on the systemic barriers that people of color face when it comes to accessing investment opportunities and building generational wealth.

As financial advisers, we have a fiduciary duty to understand the unique needs and experiences of all our clients. Yet, far too often, underrepresented communities remain underserved and overlooked in the world of finance.

This Juneteenth, let's recommit ourselves to breaking down these barriers and cultivating greater diversity and inclusion within the financial services industry.

It's time to move beyond one-size-fits-all approaches and ensure equitable access to the tools and resources needed for all to thrive. Only then can we truly fulfill our obligations as trusted fiduciaries and stewards of our clients' financial well-being.

🌟 Don't Forget!!🌟

I'll be speaking at the WINN Conference for Women, hosted by AAAA on June 19-20 in Chicago.

I'll be participating in the panel: The Future of Wealth- Embracing AI, Technology and Innovation

Hope to see you there!
https://aaafa.memberclicks.net/wiin_conference_registration #!/

Tired of dealing with airheads??!!

We get it.

Don't Hire An Air Head!! // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...

Are you running through Consultants like girlfriends??🤭

Running Through Consultants Like Girlfriends??? // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Stop being the pl***oy! You want someone with substance. My RIA La...

First off, let’s discuss compliance consultants for a moment.

It’s no secret…

I think compliance consulting is… bu****it.

Why?

Because it doesn’t really help you.

🌼 Welcome to May! 🌼

A new month brings new possibilities and opportunities for your firm. Let My RIA Lawyer be your partner in navigating the complex world of compliance.
Focus on what you do best – serving your clients and growing your business. Let us handle the intricacies of compliance so that you can achieve peace of mind and concentrate on what truly matters.

👀Are you looking for some insights? 🔎

Do you think your lawyer is full of sh*t?💩

Let's spend 6 minutes with Leila to find out what RIAs should be asking their attorneys!

https://youtu.be/PdcestxtgKE?si=PDoNwyVDSIcNlhPk

What RIAs should be asking their attorneys // #myrialawyer Empowering financial advisors and firms toconquer the legal challenges of the RIA universe.Learn out more → https://www.myrialawyer.com/⬇️SEC Enforcement Doe...