Chasing proof that annual disclosures reached each client
Filing is the easy half. Once the annual amendment is in, an updated brochure or a summary of material changes has to reach every client inside a window measured from the end of the fiscal year. The relationship summary is expected to lead the package it travels in. The privacy notice runs on a cycle of its own. Electronic delivery depends on consent captured per client, which means some households still take paper. What survives afterwards is the list of who received what, dated.
The account application comes back not in good order because of a missing initial, and the whole signature cycle runs again.
The custodian holds the assets and is the record. The advisory firm runs a relationship system alongside it, plus a portfolio and reporting system, plus a planning tool, and the same client identity is entered into each because there is no shared key between them.
- Wealthbox
- Outlook
- DocuSign
- Google Sheets
When this is the wrong thing to build
Pick something else if the client list is short and one mail merge with read receipts already produces evidence somebody would accept. The chase is for practices where consent varies household by household and a stubborn few still want an envelope.
The constraint that shapes it
Books and records rules require preservation of communications relating to advice and recommendations, and to the movement of funds, in an accessible place, for a defined period with the earliest portion held locally. More on how this sector works.
A list of things that are missing, worked until it is empty. Read what this shape is, or start from one of these.
- Chasing a compliance file to complete
- Chasing a referral fee through to a closing you cannot see
- Asking for the replenishment before the retainer runs to zero
- Chasing medical records until the set is complete
- Getting a deposition on the calendar of every party
- Chasing the warranty credit the distributor has not issued
- How do I prove a client received the updated brochure this year?
- Which clients still need paper delivery of adviser disclosures?
- How do I track who consented to electronic delivery of adviser documents?
- When does the brochure go out after the annual updating amendment?
- Does the relationship summary go first in a delivery package?
Back to wealth management, or see how this is priced and scoped.