Advisors Drag Heels On New Disclosure Rule - Form ADV Part 2

Financial Advisor Magazine - January 26, 2011

(Dow Jones) The deadline for more and clearer disclosure by registered investment advisors is looming--and many of them aren't set to comply with the new rules. To give clients and prospects more information on their investment advisors, the Securities and Exchange Commission last summer amended Part 2 of its Form ADV, a document investment professionals must complete annually to register as investment advisors.

The new Part 2 replaces a check-box format with narratives using "short sentences, definite, everyday words, and the active voice" to provide detailed resumes for
all professional staffers, and disclose things like amount of assets under management, fees, transaction costs, fund expenses, conflicts of interest, loss risks, and legal
or disciplinary events, according to the SEC's 174-page explanation of the new disclosure requirements.

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ACN has built a secure online application to facilitate the entire conversion process for the new Form ADV Part 2 and future amendments.
Compiling, writing and reviewing…everyone has to do it. The Form ADV AppTM also provides mapping, organizing, editing, networking,
sharing, tracking, comparing, collecting, formatting, and more.

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