Steps advisers should take to protect against regulatory actions

12/2/2012 | AdvisorOne

Advisers should take steps to protect themselves against state and federal regulatory agencies that are stepping up compliance activities, Tom Giachetti says. Advisers should document all processes, especially if third-party asset managers are involved, and they should have current and signed confirmations from clients who want to move to cash, especially during the "fiscal cliff" negotiations. Giachetti also recommends staying away from ill-defined terms such as "assets under advisement."

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