Just over a year ago, I got one of those voicemails that can make an advisor nervous. It was the SEC letting us know that we had three weeks to prepare for an audit.
We weren’t completely unawares. My RIA manages an alternative investment fund; we knew we hadn’t been audited since inception four years prior. We also knew that we’d stuck out our necks a few months earlier with a marketing video that detailed our investment approach.
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