Financial Advisers Find Help With Form ADV Part 2 Overhaul

OCTOBER 11, 2010 (CLEVELAND, OH) - It is not just big business deploying software-as-a-service solutions (SaaS). An increased number of registered investment advisers are turning to SaaS. Times have changed due to increased regulatory requirements made by the Securities
and Exchange Commission (SEC) and the Dodd-Frank Wall Street Reform and Consumer Protection Act. Investment managers are faced
with handling many time-consuming tasks above and beyond portfolio management. Managers are looking to alleviate their non-strategic
workload through SaaS and allow them more time to devote to investment decision making and their clients.

The new regulatory requirements demand more effort from investment firms and their professional staff. The biggest change for investment
managers is the SEC’s new Form ADV Part 2 narrative brochure requirement. As a result, investment managers have a new role: copywriter.
They are required to create a full disclosure document similar to a prospectus into a “plain English” narrative that investors will understand.
No easy undertaking.

“As an investment manager, you struggle to find time for your clients while also making sure to comply with SEC and state regulations,”
says Jim Hammett, President of Advisor Consultant Network, Inc. (ACN). ACN is a provider of SaaS solutions – including a Form ADV Part 2
narrative brochure online application for the single manager as well as compliance or law firms. Their application facilitates the compiling,
editing, and reviewing of the new required SEC disclosure document in a simple three step process. “We want to make it easier for
investment advisers, giving them the tools to enable them to devote more time to portfolio management and working with clients and
prospects. Managers will need more than a template for this one.”

SaaS solutions continue to prosper in various industries, and in this case, helping even the investment manager prioritize. A Gartner Inc.
survey reveals that companies are not planning to reduce spending on SaaS solutions. It has become an integral part of productivity – from
cable networks improving routing and scheduling, human resources driving efficiency, to the army managing compliance – SaaS has
emerged as a must-have for successful businesses.


About Advisor Consultant Network
Founded in 1995, Advisor Consultant Network, Inc. is a software company with experience in designing products for investment firms and
financial industry professionals. ACN’s proprietary products primarily focus on the rules, regulations, and registrations with the SEC and
state regulatory agencies. As the leading 13F EDGAR solution provider, ACN’s clients value their expertise with these rules and regulations.
In September, ACN launched their online application for the Form ADV Part 2 Narrative Brochure along with services to facilitate in the writing
of these brochures.

> Click here for Form ADV APPTM Product Information

> ACN Home Page
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