Examinations, best execution, the basis for a recommendation, rollover documentation, and what ‘risk score’ actually means.
Compliance
A firm can obtain excellent execution and still fail the obligation.
Compliance
Using the methodology and claiming compliance are different things.
Risk
Tolerance, capacity and requirement collapsed into one score — and where that misleads.
Compliance
Every proposal documents what was recommended. Almost none document why.
Risk
A large share of advisors became discretionary managers without deciding to. The workload is the visible part.
Compliance
Mostly whether you can demonstrate what you did, not whether you did wrong.
Compliance
The violation is rarely what was said — it is that the firm could not produce it.
Compliance
The modernized advertising rule replaced a flat prohibition with a conditional permission.
Compliance
Board seats, rental property, the family business on weekends.
Compliance
The question at the end of every examination is not what you recommended — it is whether you can show it.
Questions? Ask them directly — that is what the twenty minutes is for.