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Compliance Considerations for Senior Investors and the Critically Ill

October 27, 2020
2:15 PM - 3:15 PM CDT
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Course Description:

Concern for an aging client population has led to statements from the SEC, white papers issued by the Office of the Investor Advocate, and the passing of the Senior Safe Act in 2018. The COVID-19 pandemic has added additional concerns, as this illness has taken a special toll on our oldest citizens. Investment advisers must form policies, procedures and practices related to senior investors. This session will address key regulatory requirements and outline best practices in firm policies, and procedures for aging clients.

Learning Objectives

After attending this session, attendees should be able to:

  • Pinpoint the ways firms are addressing the challenges related to older clients and those suffering with diminished capacity and life-threatening illness
  • Identify regulatory expectations and requirements related to suspected exploitation activities
  • Assess your firm’s policies and procedures related to industry best practices

This virtual course is being taught as part of the Fall 2020 Compliance Conference. To learn more, visit our main conference webpage.

William Alan Nelson
William Alan Nelson, J.D., LL.M
Chief Compliance Officer, Mercer Advisors

As Chief Compliance Officer, William serves as an executive officer providing legal and regulatory guidance on all issues related to SEC, FINRA, and DOL rules and regulations including the Investment Advisers Act of 1940, Securities Act of 1933, as well as other state and Federal regulations and securities laws. William also serves as the Legal Advisor to Mercer Advisors’ Investment Committee.

Prior to joining Mercer Advisors, he most recently served as the Public Policy Counsel for the Certified Financial Planner Board of Standards, Inc., in Washington, D.C. William drafted Amicus briefs in the Department of Labor (DOL) fiduciary cases in the Northern District of Texas and the Fifth Circuit Court of Appeals and drafted several regulatory comment letters submitted to the DOL and Securities Exchange Commission (SEC) in support of investor protection issues.

For seven years, he also served as an Adjunct Professor at the George Washington University Law School where he taught Legal Research and Writing and is currently an Adjunct Professor at the University of Denver Sturm College of Law where he will be teaching Securities Law in Spring 2021. William has been published in several scholarly law journals across the country and his work has been cited in legal treatises and state and federal court decisions. Most recently, he was appointed to the CFP Board’s Public Policy Council.

William received his undergraduate degree from the University of Tulsa, his Juris Doctorate (J.D.) degree, with Honors, from the University of Tulsa College of Law and his Master of Laws (LL.M.) degree from the George Washington University Law School.

Karen Aavik
Karen Aavik
Chief Compliance Officer, Stratos Wealth Partners

Karen Aavik is the Chief Compliance Officer of Stratos Wealth Partners; she is also a member of Stratos’ Executive Committee. As CCO, Karen oversees all brokerage and advisory compliance matters for Stratos, focusing on ensuring that its advisers, partners, and staff operate in accordance with SEC and FINRA rules and requirements.

Prior to that she served as an Enterprise Risk Officer at Wells Fargo and Compliance Executive with KeyBank, N.A., where she led a compliance team that provided support for, and oversight of, numerous bank- and investment-side lines of business, functions and disciplines across the organization.

She was the Wealth Management Compliance Officer, the Ethics Officer and the Privacy Officer for First Niagara Financial Group, and an Assistant General Counsel in the First Niagara Legal Department. .

Ms. Aavik holds a J.D., LL.M. with Honors and M.B.A. from the State University of New York at Buffalo and is a member of the New York State Bar. She has the CCEP, CFE, CAMS, and NRS IACCP designations; earned the CIPP/US, CIPP/E, CIPT, and CIPM privacy credentials; and is FINRA Series 4, 7, 24, 53, and 63 licensed.

Ms. Aavik has contributed to articles regarding cybersecurity requirements within the investment industry and authored the “Compliance in a Bank Investment Program Environment” chapter for Modern Compliance: Best Practices for Securities & Finance (Vol. 2). She was featured in the January 2018 edition of Compliance & Ethics Professional Magazine, and currently serves as an Editorial Board Member for the Journal of Financial Compliance.

For Whom: Designed to increase the professional competence of Investment Advisers.

Suggested Skill Level: Intermediate

Maximum Recommended Credit Hours for this session will include CLE, CFP, IACCP® and CPE .

CA MCLE = 60 minutes
CFP = 1 credit
IACCP® = 60 minutes
CPE = 60 minutes

For more information, check out the NRS Continuing Education Guide.