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It’s hard to be 100% compliant as a financial advisor in today’s heavily regulated environment! Not only are the SEC and state regulators looking over your shoulder, but now the Department of Labor may soon start enforcing its new rule, PTE 2020-02, which covers investment advisors and brokers. The new rule is meant to align with the SEC’s Regulation Best Interest, and is one more thing to add to your compliance checklist— which means even more tracking, documentation, and paperwork! Broker Dealers and their representatives must have met most of the conditions of PTE 2020-02 by February 1, 2022. These include the written acknowledgments of fiduciary status by both the BD and the representative, disclosure of conflicts and compensation information, the implementation of policies and procedures to mitigate or eliminate conflicts, and annual reporting and certification of compliance. The rest of the PTE’s conditions, those relating to documenting and disclosing specific information regarding rollover recommendations, goes into effect on July 1, 2022. Read the article to make sure you remain compliant.
Most financial advisors are not living up to their fiduciary responsibilities when it comes to retirement accounts. If you’re dreading the increasingly complicated regulatory landscape and the extra time required to stay compliant in all aspects of your business, talk to TAG about how we can work together to free up more of your time.

As we said last time, when it comes to selling your financial advisory practice, timing is crucial. But waiting for the perfect time to sell your practice may prove costly. We are experiencing market volatility not seen in over a decade, and you might be thinking about what’s happening to the value of your largest asset: your business. While the continuing bull market is currently still roaring, reversion to the mean is inevitable and by then it might be too late.
If you haven’t already done so, now is the time to safeguard the value of your practice so you can remain on course for your own retirement. Part II of our series lists our next 5 reasons to sell your practice now -

Pandemic-driven market volatility aside, the investment management community weathered a stormy 2021 fairly well. In the new year, experts predict that investment management firms able to develop strong talent models, make operational improvements, align with stakeholder expectations, strengthen culture, and deliver on their leadership’s vision should see success. Read about other key findings in Deloitte’s 2022 investment management outlook.