What We Are Looking For
Contracts should be:
Up to date
Properly executed: *Signed by both parties*
Have clearly defined terms that are being properly followed
Contracts should include the following sections:
Term of contract
Refund policy for prepaid fees (if applicable)
Non Assignment Clause
Contact the Utah Division of Securities regarding Arbitration Clauses.
The client should initial in the following sections:
- ADV receipt
- Direct deduction authorization
RIAs should consider reviewing their document retention policies to ensure that any required records generated by social media communications are retained in compliance with the federal securities laws, including in a manner that is easily accessible for a period not less than five years.
- The contract is governed by the laws of the state where the client resides and should be stated in the contract.
- If multiple services, such as financial planning and asset management, are offered, a contract is needed for each service.
Information has been provided by NASAA. You will be subject to all relevant laws, regulations, rules, and orders whether or not they are included in this information sheet.