SEC Audit: How to save your fee file

SEC Audit: How to save your fee file

by | Jul 8, 2016 | Billing, SEC Audits

During the last two SEC Audits I “enjoyed” with my managers, the SEC Auditors requested a spreadsheet containing the “value of each client’s account at end of period that was used for purposes of calculating its advisory fee for the most recent...
SEC Audit: Producing a Portfolio List

SEC Audit: Producing a Portfolio List

by | Mar 17, 2016 | SEC Audits

When the SEC Auditor knocks on your door, one item she will request is a spreadsheet containing basic information about your clients. The easiest way to retrieve this information is using the Export Wizard. Before beginning, clarify the information requested....
SEC Audit: Beware having client passwords

SEC Audit: Beware having client passwords

by | Aug 10, 2015 | SEC Audits

One manager here in Virginia recently enjoyed a surprise SEC Audit.  When the examiner learned she had client user ids and passwords (so that she could access their 401k plans to retrieve statements for manual entry), the examiner had her log on to each account.  He...
SEC Audit: 5 ways to prepare PortfolioCenter

SEC Audit: 5 ways to prepare PortfolioCenter

by | May 12, 2014 | SEC Audits

The Securities and Exchange Commission intends to visit all advisors who have never been examined before 2015 ends.   In addition to the list of documents you should collect, here are 5 ways to streamline your PortfolioCenter data so you’ll be ready. 1. Properly...