Shirl Penney is the founder of Dynasty Financial Partners. He currently serves as President and CEO of Dynasty and is a member of the Board of Directors. Shirl is a frequent speaker at industry events, often quoted in various financial publications, and was named to Investment News’ 2015 list of 40 most influential people in wealth management under the age of 40. Shirl was also named to the 2016 inaugural list of Icons and Innovators in wealth management by Investment News.
By November 2022, all advisors will have to be in compliance with the new rules for marketing and advertising their firms, including the use of client and third-party testimonials. Understanding what these new rules are and how they will impact an advisors’ ability to market their services is crucial.
In this episode, David Armstrong is joined by Max Schatzow, founder of RIA Lawyers, to dissect the new rules and compliance regulations surrounding marketing for advisors. Max shares some of the old prohibitions that carry over with the new rules and the importance of coming into compliance with the new rules before the end of November 2022.
The biggest changes in marketing rules coming in 2022
What the opportunities, and risks, are under the new regulations
What the new rules say about touting a portfolio’s financial returns and financial performance
What we still don’t know, and what the SEC has yet to issue guidance on, regarding how the rules will be enforced..
Max advises investment advisors and broker-dealers on a range of financial regulatory matters. Max advises private investment vehicles, financial institutions, and other market participants on structure and operations, regulatory guidance and interpretation, investment adviser compliance and controls, and internal and regulatory investigations. He also advises these same entities through examinations, administrative proceedings, and enforcement actions.
Kay Lynn Mayhue, CFP®, AEP®, RFC® serves as President of Merit, which oversees $4 billion* in RIA and brokerage assets under management. A seasoned veteran of the financial services industry with more than 20 years of service under her belt, Kay Lynn now shares her wealth of experience and refined leadership skills with the partners and team at Merit. She primarily focuses on the implementation of company objectives to advance Merit’s mission and to promote growth and profitability as an organization. She also oversees operations to ensure production efficiency, top quality, exceptional service, and cost-effective management of resources. Driven by results, Kay Lynn works tirelessly to implement, direct, and evaluate the organization’s operational and fiscal function and performance. Her critical expertise in succession planning has paved the way for countless advisors to achieve the future of their dreams, and secured Merit’s legacy as a firm that will continue to serve others for generations to come.