Advisers need to manage documentation to protect themselves

11/22/2010 |

Compliance officers say the best way for advisers to protect their practice from client complaints and lawsuits is documentation. Advisers should remember five things about record keeping: Document client conversations and meetings, take notes right away, focus on riskier clients, make sure to keep client expectations realistic and note what you tell them, and consider "Errors and Omissions" coverage.

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