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SEC To Require RIAs to Use Online Brochures

By Mark H. Astarita, Esq.

An investment advisor's ADV Part II "Brochure" has always been something of a waste of time. Advisors spend time preparing it to give to investors, and investors undoubtedly never read the document, which is long, detailed and quite honestly, boring.Years ago the SEC considered requiring advisors to put their brochures online, and apparently now they are moving forward with that plan. We will have to see what the actual rule is, but an HTML document, with a table of contents that links to the detail sections of the brochure, might actually get investors to read parts of the documents, and should help advisors distinguish themselves from other advisors.It will be interesting to see how this plays out. A huge number of SEC registered advisors are hedge fund managers - because of the debacle over registration...continue to full post

Full post as published by SECLaw.com on February 11, 2008 (boomark / email).