A good side of the short term is that those who
are representing will have more focus on the work they are responsible for and
will not lose motivation. Another aspect I that with the shorter term more
people will have the opportunity to participate in administration bringing out
new ideas and innovations competing and trying to show the best in the time. A
negative side is that sometime someone can commit mistake which they want to
rectify but cannot due to short term which can be a plus point for long term.
Answer:
The renewal of an advisory contract under different terms than the preceding contract requires that a revised brochure must be given to the customer at, prior to, contract renewal
.
Explanation:
First, we need to define a term called ADV part 2A: Form ADV is a form used by investment advisers to register with the Securities commission and Exchange Commission (SEC) and state securities authorities.
There is no requirement to file an ADV Part 2A with a balance sheet promptly unless the adviser for the first time will accept $1,200 or more of prepaid fees, 6 months or more in advance of services rendered.
The "2-Day Free Look" at the "Brochure" is only required under NASAA rules for customers that are signing an advisory contract with that adviser for the first time - so it only applies to State-registered advisers, not to Federal Covered Advisers.
E, E, A so it’s a Secretary
