Legal and Compiance Issues http://wealthmanagement.com/taxonomy/term/23791/more en New Rule 3110 http://wealthmanagement.com/forums/legal-and-compiance-issues/new-rule-3110 <div class="node-body forum-body"><p>I worked at Edward Jones for 13 years, and&nbsp;went independent&nbsp;last fall, with the idea that I would keep a main office in my home town and open another office out of state near my wife&#39;s home town.&nbsp; I planned to be the only producer.&nbsp; I wanted to keep my original office near my old EJ office and have it function as closely as possible to how it did before the move, but only have to be there one week out of each month to meet with clients as needed, as most of my work is done over the phone ( I was assured by the indy&nbsp;recruiter that I could do this, by the way).&amp;nb</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/new-rule-3110" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/new-rule-3110#comments Legal and Compiance Issues Office location compliance issues Mon, 22 Sep 2014 13:38:16 +0000 660231 at http://wealthmanagement.com Accredited trust status after death of primary http://wealthmanagement.com/forums/legal-issues/accredited-trust-status-after-death-primary <div class="node-body forum-body"><p>Please provide your thoughts on this hypothetical situation:<br /> An ongoing revocable trust is created by an accredited investor. It is funded with, among other things, investments which are only available to accredited investors. The trust is accredited because all the owners of the trust are accredited. The question is, what will be the disposition of the trust assets after the death of all the primary trustors. None of the successor trustees or beneficiaries are accredited. Must the trust immediately divest itself of the privileged assets? What if they are not liquid?</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/accredited-trust-status-after-death-primary" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/accredited-trust-status-after-death-primary#comments Legal and Compiance Issues accredited trust death Wed, 26 Mar 2014 16:37:32 +0000 523021 at http://wealthmanagement.com Need advice re: U4 issue http://wealthmanagement.com/forums/legal-issues/need-advice-re-u4-issue <div class="node-body forum-body"><p>Nine years ago I worked at a firm in a strictly administrative capacity (mostly data entry). One day they audited my email and found a few &quot;personal&quot; emails sent through my work email address. These were things like writing my sister and asking her weekend plans, absolutely nothing investment related. I was called in to the office and told I should resign and so I did.&nbsp;</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/need-advice-re-u4-issue" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/need-advice-re-u4-issue#comments Legal and Compiance Issues U4 finra Sat, 01 Mar 2014 00:18:53 +0000 505201 at http://wealthmanagement.com Statute of Limitations http://wealthmanagement.com/forums/legal-issues/statute-limitations-1 <div class="node-body forum-body"><p>Hi, in December of 2005 I met a person with a considerable amount to invest, after several meetings and explaining to him different options , he invested 25% in several bank preferred stocks, 25%REIT. The other 50% was invested in cd&#39;s and savings accounts. Shortly after I left the bd for other venture however I still retain my Finra registration. In 2008 the banks who issue the preferred stocks were taken over by the FDIC during the financial collapse.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/statute-limitations-1" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/statute-limitations-1#comments Legal and Compiance Issues Wed, 01 Jan 2014 16:21:22 +0000 464001 at http://wealthmanagement.com U-5 http://wealthmanagement.com/forums/legal-issues/u-5-0 <div class="node-body forum-body"><p>Does anyone know if you can get something removed or at the least comment on something that will be uploaded to CRD. A former client with my former firm wrote a letter complaining about an annuity 8 years after he purchased it and after he surrendered it. My former firm did not report it to Finra because there were no damages and the client asked for nothing. They had to upload it due to a Finra audit. I have had no disclosures in close to 30 years in the biz.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/u-5-0" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/u-5-0#comments Legal and Compiance Issues Tue, 26 Nov 2013 23:22:06 +0000 441081 at http://wealthmanagement.com Help! Fees! http://wealthmanagement.com/forums/legal-issues/help-fees <div class="node-body forum-body"><p>Hi all,<br /> I have a quick question about charging asset based fees to clients. &nbsp;I think providing an example would help in explaining my concern: &nbsp;an investor has $200k in an IRA/taxable account and $300k in a 403(b). &nbsp;Can I charge, say 1%, on all $500k and then deduct it from the IRA/taxable account or can I only charge 1% on the $200k and not advise on the 403(b)? &nbsp;Thanks for your input.</p> </div><div class="og_rss_groups"></div> http://wealthmanagement.com/forums/legal-issues/help-fees#comments Legal and Compiance Issues asset management fee only fees ria Sat, 23 Nov 2013 01:33:43 +0000 438851 at http://wealthmanagement.com How Long will FINRA report be online- left industry.. http://wealthmanagement.com/forums/legal-issues/how-long-will-finra-report-be-online-left-industry <div class="node-body forum-body"><p>Hello all</p> <p> I left the industry in 2010. &nbsp;Finra still lists me, in fact the first hit on google for me is the FINRA site, which leads to my finra report, which includes an old (1995) BK &amp; old DUI. &nbsp;Kind of embarassing and a little too easy to find!!!</p> <p> Will finra make this report available forever, even after I left the industry? &nbsp;or will it eventually drop off? &nbsp;If so, when?</p> <p> &nbsp;</p> <p> Many thanks</p> </div><div class="og_rss_groups"></div> http://wealthmanagement.com/forums/legal-issues/how-long-will-finra-report-be-online-left-industry#comments Legal and Compiance Issues Fri, 01 Nov 2013 04:06:03 +0000 422731 at http://wealthmanagement.com Written client complaint http://wealthmanagement.com/forums/legal-issues/written-client-complaint <div class="node-body forum-body"></div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/written-client-complaint" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/written-client-complaint#comments Legal and Compiance Issues Wed, 30 Oct 2013 02:37:05 +0000 420531 at http://wealthmanagement.com U4/U5 issue Client complaint http://wealthmanagement.com/forums/legal-issues/u4u5-issue-client-complaint <div class="node-body forum-body"><p>I have been in the business since 1996, in a large Texas city. I have recently been told that my former B/D has launched an investigation into my book of business, after almost a year away from the previous B/D. To give you a little backstory, In 2012, I moved my practice from one B/D to another When I did this, I lost my association with B/D 1, which is an insurance based B/D, but was able to establish a broker relationship with B/D1, which is not an insurance based B/D, but a regional RIA firm, that allows me to sell insurance as disclosed on my OBA.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/u4u5-issue-client-complaint" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/u4u5-issue-client-complaint#comments Legal and Compiance Issues Tue, 22 Oct 2013 04:13:51 +0000 410142 at http://wealthmanagement.com Getting hired with mark on U5 http://wealthmanagement.com/forums/legal-issues/getting-hired-mark-u5 <div class="node-body forum-body"><p>I was fired for guaranteeing against loses, they answered yes to not following finra policy on my u5 and entered guaranteed against loses on comments.&nbsp; Will I be able to find employment somewhere else, I want to stay in the industry have a book of about 5 mil, what firms are most likely willing to look past this?</p> </div><div class="og_rss_groups"></div> http://wealthmanagement.com/forums/legal-issues/getting-hired-mark-u5#comments Legal and Compiance Issues Firms termination U5 Wed, 21 Aug 2013 23:00:17 +0000 345682 at http://wealthmanagement.com