Unregistered Advisers: A Potential Trap for Unaware Investors and Custodian Broker-Dealers

By: DWH Legal Since the 2008/2009 financial crisis, many former financial advisors, portfolio managers and investment adviser representatives have elected to branch out on their own and serve as independent investment advisers.  Often times, these investment advisers fall below the SEC registration requirement of $25 million assets under management but, importantly, fail to consider registering as advisers in the state…

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