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New SEC Rules Allow Financial Advisor Testimonials

Adviser Mergers And Acquisitions Are Rising

Leila Shaver, securities attorney and founder of My RIA Lawyer in Atlanta, says advisors will have to keep in mind the regulatory requirements for testimonials, which prospective clients often view.

She points to the requirement to include disclosures with the testimonials, versus in a separate location, and that testimonials must be accurately expressed. “Unless it’s an internet troll, negative testimonials will have to be tolerated,” she says.

US News Article by Kate Stalter: Compliance experts say advisors must proceed with caution.


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Author Bio

Leila Shaver is the Founder of My RIA Lawyer, a law firm that provides compliance and legal consulting for financial institutions. With extensive experience as a securities attorney and compliance expert, she has served as Chief Compliance Officer and General Counsel to RIAs, BDs, and TAMPs with billions in assets under management.

Leila understands the challenges RIAs face and is committed to helping RIAs streamline their processes, mitigate risks, and ensure compliance with regulatory requirements. She received her Juris Doctor from Atlanta’s John Marshall Law School and is a West Georgia Young Lawyers’ Association member. Leila has received numerous accolades for her work, including the Carroll County Bar Association’s Outstanding Young Lawyer Award in 2017.

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