Beach Street Legal exists for the sole purpose of helping entrepreneurial investment advisers and financial planners succeed.


The following services have been designed to guide advisers and planners through the legal, regulatory and compliance challenges from inception, through growth, and to succession.

Services

Legal Counsel

  • Outside general counsel focused on corporate and regulatory matters
  • Entity structuring and formation
  • Contract drafting, review and negotiation to ensure your best interests are protected
  • Privileged and confidential simulated regulatory exams (on-site and/or virtual)
  • Advice in conjunction with dispute avoidance or resolution

Compliance Consulting

  • Compliance program creation, tailored to your specific business
  • Updating and testing of the compliance program pursuant to a compliance calendar
  • Compliance counseling with respect to federal and state securities laws, SEC and state securities regulator rules, no-action relief, and informal guidance updates
  • Assistance with regulatory inquiries, document requests, or an actual regulatory exam

RIA Formation

  • Craft all documents needed to form an RIA at the state or federal level
  • Manage the regulatory filing process from start to finish, including IARD administration
  • Engage with regulators on your behalf to address any registration deficiencies
  • Entity formation and registration in your chosen jurisdiction
  • Discrete formation available for advisers in transition

Disclosure Drafting & Filing

  • Form ADV Part 1, Part 2A brochure, Part 2B brochure supplement, and any applicable appendices
  • Notice filings or additional state registrations
  • Form U4 / U5
  • Privacy policy
  • ERISA 408(b)(2) disclosure document

Policies & Procedures

  • Customized compliance policies and procedures with recommended updates as necessary
  • Code of Ethics
  • Information security
  • Disaster recovery and business continuity
  • Annual review and 206(4)-7 reporting

CCO Training & Assistance

  • Provided directly to the CCO or to the firm’s staff on-site or via webinar
  • Timely articles and summaries of new laws, rules and regulations
  • Assistance with third-party vendor due diligence and oversight
  • Backstop miscellaneous work overflow

Regulatory Exam Prep

  • “Mock” examinations to simulate an actual regulatory exam, with accompanying report
  • Books and records review to assess exam readiness; resolve any gaps
  • Review document requests as part of an actual regulatory exam, draft responses, and help resolve deficiencies; guide from exam announcement to resolution

Risk & Conflict Assessment

  • Identify, inventory and mitigate risks to the firm and its clients
  • Unearth conflicts of interest and craft necessary disclosure (e.g. custodial benefits, revenue sharing, product incentives, etc.)
  • Assess continued feasibility of identified conflicts with respect to ERISA accounts and the DOL Fiduciary Rule

Corporate Governance

  • Corporate recordkeeping, minutes, board resolutions, and state filings
  • Director and officer risk mitigation and advice
  • Liability limitation and avoiding corporate veil piercing
  • Internal control evaluation and assistance with audit responses
  • E&O and financial lines insurance broker referral

Continuity & Succession

  • Document a plan for unexpected continuity events like death or disability
  • Protect and realize a firm’s market value as part of a scripted transfer to an identified successor
  • Advice on intergenerational and external transfer plans while complying with clients’ privacy rights and regulatory expectations

Advisors In Transition

  • Guidance on entering the industry for the first time, transitioning from one firm to another, or setting out on your own
  • Review of employment contracts, non-competition agreements, non-solicitation agreements, and other restrictive covenants
  • Assess the portability of client contracts and the potential for negative consent transitions

Mergers & Acquisitions

  • Buy-side or sell-side representation during the sale or acquisition of a business
  • Conform the transaction to Advisers Act compliance obligations
  • Draft and negotiate consummating agreements
  • Confidentially match interested buyers and sellers

About


Founding Principal

The guy behind Beach Street Legal is me, Chris Stanley. I’ve spent nearly my entire professional career as an investment management attorney, first stumbling into the industry as a part-time legal clerk for a multi-billion dollar advisory firm while still in law school. I’ve served in various legal and compliance capacities since then, including stints as General Counsel and Chief Compliance Officer. I’m forever indebted to the incredibly talented colleagues, mentors and friends that have taught me so much along the way, and my goal is to never stop learning and sharing what I’ve learned. The entirety of my professional background and experience can be found over on LinkedIn.

The investment advisory and financial planning community fascinates me. I absolutely love it. The entrepreneurial spirit that embodies this community is what ultimately inspired me to launch Beach Street Legal to help the advisers and planners that work so hard to help their clients. My small contribution is intended to make the legal and compliance aspects of running a business less intimidating by adhering to a few basic principles:

  1. Listen.
  2. Distill the applicable laws, rules and regulations into their simplest form.
  3. Offer specific, practical counsel.
  4. Stay ahead of the regulatory curve.
  5. Act as a fiduciary to other fiduciaries.

If you’d like to learn more, drop me a line or give me a ring. I welcome the opportunity to learn more about your business and how I may be able to help.

~

So what’s with “Beach Street”? During college, I spent a few months studying abroad at the University of New South Wales outside of Sydney, Australia. My assigned housing was a single-family home located at 80 Beach Street in the cozy seaside town of Coogee. I lived with seven other students, and walked to campus and back every day on Beach Street. It was idyllic. I’ll never forget the friends and memories I made during my time there, and am always mindful of just how lucky I was to experience all that I did during that time in my life.

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