Investment Adviser Compensation for Referrals

Posted on November 9, 2005 by
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Please be aware that New Jersey's current posture is to require firm employees receiving compensation for referring business to the firm to be registered as investment adviser representatives. Note, this requirement does not depend upon the nature of the employee's position with the firm. Thus, for example, an administrative employee who has referred a family member to the firm cannot receive additional compensation related to that referral unless the employee is first registered as an investment adviser representative.

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