Fiduciary & compliance
Advisory responsibility sits with the adviser.
NextReg Advisors is being built to serve as adviser of record, which means acting in the interest of end clients and standing behind the advice a program delivers.
What NextReg Advisors is responsible for
Acting as a fiduciary
Putting the end client's interest first in how the program advises, and disclosing what clients need to understand about it.
Owning the advice
Setting the investment methodology and portfolios, and keeping them current.
Approving what clients see
Reviewing disclosures, advisory agreements, fees, and marketing before use.
Supervising and recording
Overseeing how each program runs, handling complaints, and maintaining advisory and regulatory records.
Boundaries that apply to partners
These limits are what make the allocation of responsibility workable.
- Partners may not independently change investment advice.
- Partners do not exercise advisory discretion.
- Partners do not present themselves as the investment adviser.
- Partners do not provide individualized investment advice.
Why this allocation matters
For the partner
The partner builds and distributes a product without taking on advisory obligations it isn't set up to carry.
For the end client
There is a single, identifiable adviser accountable for the advice and for handling concerns.
For the program
Clear lines make supervision practical, which is what allows a program to run and grow in a controlled way.
Regulatory status and disclosures: see Disclosures.
Discuss your product
We'll walk through where responsibility would sit for your specific use case.