AR&H News & Blog
What is a Qualified Client?
By: Daniel A. PerryThe Investment Advisers ActIn 1940, the United States Congress passed the Investment Advisers Act. This act created several registration requirements that continue to be changed today in both the federal and state security division landscapes. The 1940 Act made it unlawful for most financial advisers to charge performance fees to its clients […]
What Is an Accredited Investor?
By: Daniel A. PerryThe term “Accredited Investor” is defined by the Securities and Exchange Commission. It is a term for individuals wishing to purchase securities which are not required to be registered with the SEC or any State Securities Division. In addition, the term “Accredited Investor” is meant to apply to certain individuals who may […]
Raising Capital for Startups: What Are Your Options?
By: Daniel A. Perry Frequently, a client calls our office to discuss the options for starting a business. Clients and prospective clients calling our office get extremely excited to get their business idea off the ground. However, one aspect that is always difficult with every entrepreneur and business owner is getting the funding for their business.Here […]
What Are the Income Rules to Qualify for Medicaid?
I was speaking with a client recently regarding the aspect of potential long-term care planning. This client was very worried about not having enough money to pay for their long-term care costs and had begun to investigate the possibility of attempting to qualify for Medicaid later in life, should this become an issue.Specifically, this client […]
When an Elderly Parent Remarries: Is It Time to Step in to Stop the Spending?
By Daniel A. Perry, Esq.Today, I’d like to speak to you about somewhat of a controversial topic. I was recently speaking with a client who asked me “Dan, should we step in and stop our parent from spending their money on these vacations and trips with his new spouse?” This is usually a very uncomfortable question and […]
The Revocable Living Trust: It Was Never About Estate Tax Savings
By Daniel A. Perry, Esq. I was recently speaking with a client who said to me “Dan, I have a simple situation. My financial advisor said all I need is a simple will, powers of attorney, and advanced healthcare directives. My financial advisor told me that since all my accounts have beneficiary designations and my estate […]
Are Mid-Sized Advisers Subject to Examination by the State Securities Division?
By: Daniel A. PerryTime for yet another typical lawyer answer … it depends! As discussed in a previous article, a Mid-Sized Adviser is an adviser that manages between $25 million and $100 million in assets under management. Typically, these advisers must register with the state securities division in the state where the adviser conducts business […]
Does Having a Limited Liability Company Protect Me from Debts and Lawsuits?
By: Daniel A. PerryUnfortunately, it depends. If you have a Limited Liability Company (LLC), owners (called members) are generally not liable for the debts and liabilities of the LLC. For example, if your company was sued for $25,000.00, the other party could only collect from the assets of the LLC. The other party could not […]
What Should Be Covered in a Policies and Procedures for an Adviser?
By: Daniel A. PerryThere are several requirements that an adviser must cover to stay in regulatory compliance. This includes business continuity plans, how fees are based on the valuation of your client’s assets, and how assets of clients are valued. It also includes the advisers trading practices, the policies and procedures that the adviser uses […]
What Policies and Procedures are Advisers Required to Keep in Place?
By: Daniel A. PerryThis is a rather complicated question. If left unanswered, advisers may end up being held liable and subjected to fines before the various state and federal regulatory agencies. In addition, this also appears to be the area where advisers have the most difficulty in adhering to the various compliance standard.What are the […]