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Are you a financial advisor with a criminal disclosure?

Posted by Joel Beck | Apr 05, 2021 | 0 Comments

At The Beck Law Firm, LLC, we often receive calls from financial advisors navigating the ramifications of an arrest or criminal case on their Form U4. Whether the charge is old, new, or already disclosed, they want to know what they can do to minimize the impact of the disclosure on their career and reputation. 

With more than a decade of experience handling these cases, we've noticed one common factor—misinformation.

Unfortunately, many advisors come to us after receiving lackluster, conflicting, and even harmful advice from their firm's compliance department, a fellow advisor, or a cursory internet search. They've been told…

“Go ahead and disclose everything, just to be safe.”

“You don't have to disclose it right away, just wait until your annual compliance review.”

“If you've already disclosed something, there's nothing you can do.”

While well meaning, uninformed advice like the above can actually be damaging to a financial advisor's Form U4, sometimes beyond repair. Disclosures on the Form U4 can make or break a career, especially those involving criminal cases. Stakes this high call for experienced counsel and accurate resources, which we have found to be lacking.

In an effort to remedy the situation, we are excited to announce that we have developed a new resource addressing this subject –The Financial Advisor's Guide to Arrests, Criminal Charges, and Related Form U4 Issues. This free guide offers an overview of criminal disclosures and their effect on the Form U4, and what to do if you find yourself facing an arrest or criminal charge. We hope that this resource will bridge the information gap for financial advisors searching for answers about preserving their Form U4.  

Click here to learn more and request your copy of this free report.

About the Author

Joel Beck

Joel Beck founded The Beck Law Firm, LLC in 2007. His firm focused on business law and estate planning needs of clients, two areas that he was drawn to based upon personal and business experiences in his life, including a ten-year career at NASD (now known as FINRA).


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