RIA custody

[Scuba 401]

anyone on here for RIA's that also administer retirement plans?  I would like to discuss how you deal with distributions from plans in light of the new SEC custody rule. 

[Peter Gulia]

Beyond retirement plans, I advise registered investment advisers about their fiduciary duties and compliance procedures.

 

This can include practical guidance on whether an adviser’s use of a client’s password for systems of a retirement-services provider results in custody or is a deceptive practice.  (I informed my clients about Pennsylvania’s new interpretation the same day the Bureau of Securities Compliance and Examinations released it.)

 

Also, I advise recordkeepers, third-party administrators, and other service providers about how to improve privacy, security, and other controls while allowing some access to a participant’s or beneficiary’s adviser (if that’s what my client wants).