February 27, 2012

Massachusetts Issues RIA Survey

The Massachusetts Securities Division released an Investment Adviser Survey on Friday, February 24, 2012 to obtain additional information from newer advisors and those not managing client assets. 

In discussions with the Securities Division, the intent of the survey is to be proactive in making sure the Securities Division not only has an understanding of all registrants in the state, but also to aid newer filers in understanding their regulatory responsibilities.

The 4-page questionnaire inquires about the RIA's registered and non-registered persons, the services offered by the firm and how the RIA is compensated for its services.

Advisors should complete the form and provide any supplemental information in a cover letter. For instance, if your firm was a new registrant in 2011, you may not have updated your assets under management. Although you do have assets and clients, the state would still like you to complete the form and indicate this in the cover letter.

A copy of the letter is below. Please contact us at support@advisorassist.com if you have any questions on compliance and regulatory responsibilities for your firm. Advisors participating in the AdvisorAssist Compliance Advantage Program will receive specific instruction from the AdvisorAssist Team.

From: Massachusetts Securities Division [mailto:MSD@sec.state.ma.us]
Sent: Friday, February 24, 2012 2:10 PM
Subject: 2012 IA Survey - response required

Dear Registrant:

The Massachusetts Securities Division (the “Division”) is currently conducting a survey of certain registered investment adviser firms located in Massachusetts that, according to its most recently Form ADV filings, discloses zero regulatory assets under management. This survey will be used to gauge the types of business being conducted and inquires as to the firm’s business practices within the last two years.

Please complete the attached survey and return this survey to:

Massachusetts Securities Division
Attn: 2012 Investment Adviser Survey
One Ashburton Place, 17th Floor
Boston, Massachusetts 02108-1552

or via e-mail to:

A response by your firm is required. This survey must be completed and returned by Wednesday, March 7, 2011.

Thank you in advance for your cooperation. If you have any questions, please contact the Division.


Massachusetts Securities Division


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