How can I make sure my RIA firm's Form CRS is compliant?

What to include on your firm's Form CRS.

When creating your firm's Form CRS, there are five required sections you must include within this two page document. The Securities and Exchange Commission ("SEC") encourages you to rely on the "layered disclosure" concept by using hyperlinks and other cross-references for more detailed disclosure on your final document. 

The five required sections and their accompanying headers are as follows:

  1. An Introduction that includes:

    1. Date
    2. Name of firm
    3. Registered as an investment adviser with the SEC
    4. “Indicate that brokerage and investment advisory services and fees differ and that it is important for the retail investor to understand the differences.”
  2. Relationships and Services 

    1. "What investment services and advice can you provide me?”
  3. Fee, Conflicts, and Standard of Conduct

    1. "What fees will I pay?"
  4. Disciplinary History

    1. "Do you or your financial professionals have legal or disciplinary history?”
  5. Additional Information: 

    RIA firms must note where the retail investor can find additional information and a copy of the Form CRS and include a telephone number to request more information and a copy of the Form CRS. Firms must also include a "Conversation Starters" section to include questions such as:
    1. “Who is my primary contact person?”
    2. “Is he or she a representative of an investment adviser or a broker-dealer?”
    3. “Who can I talk to if I have concerns about how this person is treating me?”

You can find more information here -- An Overview of the 5 Required Form CRS Items for RIA Firms or download our 5 Requirements for the Form CRS Infographic

The above overview is a general summary and is not intended to be a complete overview of all relevant details for a particular firm. We highly encourage the principal and Chief Compliance Officer ("CCO") of all applicable RIA firms to review the SEC's Form CRS instructions in detail.

Find the Securities and Exchange Commission's ("SEC") frequently asked questions on Form CRS here.