Client Communication: Rapid Fire

What this video covers

• Why omitting a material fact is fraud, and how the six hiring questions map to required advisory disclosures
• The difference between Form ADV Part 2A (the firm brochure) and Part 2B (the individual investment adviser representative supplement)
• Why a break-even promise is a banned performance guarantee, while a money-back guarantee on advisory fees is permitted
• The two state-registered brochure delivery options (48 hours in advance vs. at signing with 5-business-day penalty-free termination) and why the exam tricks you into combining them
• The two annual deadlines: 90 days to file Form ADV with regulators and 120 days to deliver the updated brochure to existing clients
• Why state-registered advisers still cannot use testimonials in most states, even though the Securities and Exchange Commission marketing rule now allows them federally with disclosure
• What counts as an assignment (majority ownership change requiring client consent) vs. a minority change (written notice only)