Ethics & Professional Responsibility: Buying or Selling a Client List or IA Entity

This course will address core compliance considerations for Investment Adviser Representatives (IARs) contemplating buying or selling a client list or an investment adviser entity. The course will cover essential topics including fiduciary duties, regulatory requirements, and best practices for seamless transitions. Participants will gain insights into federal and state laws, privacy and confidentiality concerns, and the importance of due diligence. The course will also explore various types of transactions, such as asset purchases and mergers, and their compliance implications. By the end of the session, attendees will be equipped with the knowledge to manage client relationships ethically and effectively during the sale or purchase process.

Course Objectives

1. Understand the ethical and regulatory obligations tied to transferring client relationships;
2. Recognize the requirements under federal and state laws for buying or selling an advisory practice or client list;
3. Develop a framework for seamless, compliant transitions, with a special focus on due diligence, ongoing oversight, and best practices.