Connect with a third-party compliance expert

When going out on your own – either starting an RIA firm or joining an established one – you'll have a few legal and compliance considerations to keep in mind. The good news is that we’ve already helped thousands of advisors think through them, so we’re in a great place to help you too.

As you explore your choices, we'll help put any legal and compliance considerations into perspective and work to address any concerns you may have. Once you've explored your choices and are ready to make your move, we'll connect you with legal counsel for a complimentary consultation to help you protect yourself and your business, and to build out a plan for your compliance needs.

Incorporating and registering: Forming your business and informing the SEC

You have a number of different choices in setting up your business structure. Let us connect you with legal counsel that can walk you through the potential benefits and risks of each. We can help give you direction on how to incorporate your business and get your registrations in place.

Compliance and risk management: Deciding whether to outsource or do it yourself

Some advisors feel very comfortable handling compliance and risk themselves. Others don't. And some just don't know yet.

In a nutshell, there are typically three compliance management options:

  • Do it yourself
  • Outsource to a trusted third party provider
  • Join an existing firm that already has a strong compliance management program

Our transition consultants will work with you to weigh your options and help you reach a decision and connect you to the resources you need.

Broker Protocol: Protecting your business while in transition

Many companies have agreed to Broker Protocol, which protects corporate and advisor interests during a transition. Among other requirements, it asks that you act in good faith when leaving your current firm. This means only taking certain information and not soliciting your clients before you submit your resignation.

Our transition consultants can help you understand Broker Protocol and work with you and your legal counsel to help you make informed decisions during transition. Call us for a complimentary consultation. We’ll help you ask the right questions so that your transition is as smooth as possible for you and your clients.

Errors and omissions insurance: Protecting your firm against loss

You likely already understand the importance of loss prevention. As an independent RIA, you'll also have the flexibility in choosing how much protection you need and what provider you'll work with. We have several Affinity service providers who are third-party experts in this area, and we can provide you with a list of resources.

Client contracts: Defining advisor and client responsibilities

An RIA Client Investment Advisory Agreement defines the responsibilities of the Advisor and the Client as a legal agreement. It can include brokerage discretion, hourly fees, fixed fees, retainers and performance fees. We can connect you with legal counsel that can help you construct contracts based on your business situation.

TD Ameritrade does not provide legal advice. Advice you receive will be from an independent outside law firm not affiliated with TD Ameritrade.