Client Communication: Rapid Fire

What this video covers

• Why omitting a material fact is legally equivalent to a false statement under the adviser's full and fair disclosure standard, and how broker-dealers differ
• The two valid timing options for delivering Form ADV Part 2A and the 5-business-day free-look right
• Why the 90-day filing rule for regulators and the 120-day client-delivery rule are not the same number, and how the annual brochure process works for both state and SEC advisers
• Why registration is never endorsement or approval, why the Series 66 is a license not a certification, and why loss guarantees are universally prohibited
• What makes a qualified client for performance fees, the $1.4 million AUM and $2.7 million net worth thresholds, and the residential real estate exclusion
• The fulcrum fee versus the BDC performance-fee exception, including the $1 million contract threshold and the 20% realized-gains cap
• What counts as an assignment, when client consent is required versus mere notification, and the minority-interest-member exception
• How the SEC Marketing Rule replaced the old advertising prohibition on testimonials, the promoter agreement de minimis exception, the 1-5-10 year performance display rule, and the 5-year record-retention timeline with first-two-year storage