We conduct surprise custody examinations on firms deemed to have custody under Rule 206(4)-2 of the Investment Advisers Act of 1940. Our goal is to ensure the examination process is as efficient as possible.
Ashland Partners specializes in providing these types of examinations to investment advisors where our professionals have developed a unique perspective on the operational challenges and best practices of firms ranging in size from just under $100 million to over $400 billion in assets under management.
Surprise Custody Examination
We meet surprise examination requirements related to reviewing books and records as they relate to the RIA’s custody and confirmation with qualified custodians and clients.
Confirmation with qualified custodians includes
- Client funds and securities as of the examination date
- Client funds and securities are held either in a separate account under the client’s name or in accounts under the name of the RIA as an agent or trustee
- Reconciliation of confirmations and other information
Confirmation with clients
- Funds and securities held in the account as of the examination date
- Contributions and withdrawals of funds and securities to and from the account as of the examination date
- Reconciliation of confirmations and other information received
For further information or to discuss how we can help you, please contact us.