Pinnacle Advisor Solutions Adds Webpage As Resource for RIAs to Easily Access Current Regulatory Information on Succession Plan Requirements

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Pinnacle Advisor Solutions has added a dedicated webpage which highlights the current information on the regulatory landscape regarding the requirement for RIAs to have a business continuity and succession plan. The webpage features copies of the proposed rules by both the North American Securities Administrators Association (NASAA) and the SEC as well as information from each state that has already acted on the rule proposals.

To date, we are aware of nine state that have adopted a formal rule while four more states have proposed rules on the table pending formal adoption. Information is organized by state and as new information is available Pinnacle will update the webpage. While the new administration has cast doubt on many proposed regulations, it is believed that the SEC will approve the business continuity and succession rule it proposed last June. Once adopted by the SEC, it is expected that several more states will formally adopt the model rule proposed by NASAA in 2015.

“With an advisor’s time already so constrained by daily duties, we hope that this new webpage will serve as a “one stop shop” for advisors to easily access the information without having to take time out of their day to call their state administrator or to dig around for news from the SEC.” said Tim Mascari, Assistant Director, Strategic Partnerships at Pinnacle. “An advisor can check back periodically to see if their state has adopted the rule.”

Pinnacle Advisor Solutions and partner Michael Kitces have been longstanding advocates for the adoption of continuity and succession plans by independent RIAs to ensure their clients and their family are cared for in the event of an advisor’s death or disability. Pinnacle Advisor Solutions introduced its continuity and succession planning solution PRISM in 2013 in response to feedback it received from advisors wanting to have a plan but having few viable options. Pinnacle Advisor Solutions has PRISM agreements with RIAs across the country.

For further information about Pinnacle’s continuity and succession plan solutions, contact Tim Mascari, Assistant Director, Strategic Partnerships at (443) 832-1620 or tmascari(at)PinnacleAdvisorSolutions(dot)com.

Pinnacle Advisor Solutions is a leading provider of business solutions to independent advisors with $10 – $300 million in assets under management nationwide. The firm offers a unique strategic partnership that provides time-constrained advisors with the investment, operations and technology, compliance, business development and continuity planning solutions they need to move their businesses forward without forfeiting their independence. Pinnacle Advisor Solutions is a division of Pinnacle Advisory Group, a national award winning independent wealth management firm serving more than 1,100 families and managing more than $1.5 billion of their wealth.

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Pete McGratty CFA
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