Who is United Atlantic Legal Services?
United Atlantic Legal Services works exclusively with investment advisers in the United States and United Kingdom to remove obstacles during the registration and acquisition due diligence processes.
We are laser focused on our investment adviser clients – we don’t do anything else.
United Atlantic Legal Services is boutique law firm focused on providing exceptional services to its investment adviser clients. We are dedicated to maintaining an efficient, transparent practice that is focused on providing tailored solutions after getting to know the details of every client’s business. We have assisted entrepreneurs, established breakaway advisors, private fund managers and others in launching their own investment adviser firms and making their dreams come true. Please contact us by visiting our website at www.unitedatlanticls.com. Our initial consultation is always free.
What Makes United Atlantic Legal Services Different?
We founded United Atlantic Legal Services on the idea that investment advisers should be able to work with legal professionals who really understand the businesses they are trying to create. Investment advisers should expect efficient and transparent legal services that make sense and actually help them achieve their goals.
- What are efficient legal services? When we say that we provide efficient legal services, we mean that we have created detailed processes to support our investment adviser clients through the registration process with the Securities and Exchange Commission and with their legal and compliance acquisition due diligence.
- What do we mean by transparent legal services? Transparency is at the core of the work we do on behalf of our clients. We work hard to ensure that our clients always know where they are at in the process. That way, we work collaboratively to anticipate and overcome any obstacles.
- What are highly tailored solutions? We do not provide cookie-cutter legal services. We understand that our clients are trying to build something unique and special. Our deep knowledge and industry experience allows us to create tailored solutions for our investment adviser clients.
United Atlantic Legal Services focuses on these core values whether helping our clients get registered as an investment adviser with the Securities and Exchange Commission (the Adviser Launch Process) or when we are assisting our investment adviser clients assess the legal and compliance risks associated with an anticipated acquisition of another investment adviser firm (the Adviser Assessment System).
What is the Investment Adviser Launch Process?
United Atlantic Legal Services created its unique Adviser Launch Process to help investment advisers register their firms with the Securities and Exchange Commission. The Adviser Launch Process’s goal is to really help investment advisers see how their dreams can become a reality.
From start to finish, the Adviser Launch Process is all about gathering as much detailed information as possible about your firm and translating that information into the language of the regulators.
The Adviser Launch Process consists of the following phases:
- Information Gathering – We take the time to get to know you and your firm.
- Entity Formation – We register the legal entity and assist in drafting its governing documents.
- Disclosure Brochure Drafting & Client Agreements – We prepare the essential documents required for a successful registration application with the Securities and Exchange Commission.
- Registration Application – We communicate directly with the Securities and Exchange Commission to provide timely and accurate responses to any inquires.
- Policies and Procedures Drafting – We prepare your firm to stay in compliance with the Investment Advisers Act and other applicable rules and regulations.
- Launch – Congratulations, the registration process is complete and the investment adviser firm is ready to move forward with confidence!
In order to truly get off on the right foot in the information gathering phase, we review the following factors:
- How will your firm manage client assets? Will your firm use portfolios created in-house or rely on subadvisors or a combination of the two?
- What will your firm’s marketing strategy be to obtain clients? Will the firm use performance advertising? Has the firm considered using testimonials or endorsements?
- What vendors, such as custodian and cybersecurity (IT) firms, does the firm intend to engage with on an ongoing basis?
- How will your firm meet its regulatory compliance requirements? Has the firm identified a candidate to act as the firm’s Chief Compliance Officer (a required position)? Does that person understand his or her obligations as a Chief Compliance Officer?
You can learn more about the Adviser Launch Process by clicking this link.
What is the Investment Adviser Assessment System?
United Atlantic Legal Services developed the Adviser Assessment System to provide a thorough structure for the legal and compliance risk assessment during the investment adviser acquisition process.
We understand that the acquisition process for investment advisers can be complicated and nerve wracking, that is why we created the Adviser Assessment System: to simplify and clarify.
The Adviser Assessment System looks at the following:
- Acquisition Objectives – Whether you are a buyer or seller, United Atlantic Legal Services takes the time to understand the reasons behind the acquisition: What are your firm’s objectives for the acquisition?
- Review of Publicly Available Information – Public disclosures made by an investment adviser in their ADV Disclosure Brochure can reveal significant legal and compliance red flags. Furthermore, internet searches and the use of other publicly available information can provide a great deal of knowledge on an investment adviser firm and their principals.
- Interviews & Branch Visits – United Atlantic Legal Services will conduct interviews with key individuals including the assessed firm’s Chief Compliance Officer and General Counsel. In addition, we conduct branch office visits to test for legal and compliance concerns in locations independent of the assessed firm’s home office.
- Internal Legal & Compliance Review – Deficiencies or gaps in an investment adviser’s internal legal and compliance controls can reveal significant risks to an acquiring firm. United Atlantic Legal Services conducts a deep dive into these internal controls including reviewing how stated policies align with actual practice.
Further, we will help you consider some of the practical issues that may arise during an acquisition, including:
- How will your firm integrate the legal and compliance program of the acquired firm? How will the acquired firm maintain its compliance related books and records (such as its email/correspondence records)?
- How will your firm integrate the acquired firm’s clients? Will the clients of the acquired firm be required to adopt new client agreements? If not, how will your firm make the appropriate disclosures relating to discrepancies between the contract types?
- Has your firm considered how to manage the portfolios of the acquired firm’s clients? How will your firm integrate multiple and potentially conflicting portfolios?
You can learn more about the Adviser Assessment System by clicking this link.
Let’s Work Together
United Atlantic Legal Services was created to provide efficient, transparent, highly tailored solutions for our investment adviser clients in the United States and United Kingdom.
We only work with investment advisers, they are our only focus, we understand their business and we know how to help them reach their goals.
We look forward to hearing from you. When you’re ready, we will be ready. Contact us today.
About Our Founder
Michael Rasmussen is the founder of United Atlantic Legal Services. He is a licensed attorney in Florida and registered solicitor in the United Kingdom. Michael has acted as General Counsel and Chief Compliance Officer to several investment advisers, including private fund managers, responsible for the management of billions of dollars in client assets.
Michael is also the founder of FinProLaw, an online learning platform where Michael has created courses designed for investment adviser compliance professionals. These courses include:
- Investment Adviser Compliance Essentials for Chief Compliance Officers
- Investment Adviser Registration
- Foundations of Investment Adviser Compliance
- What is a “Security”?
- Investment Adviser Marketing Rule
- Regulation A – Exemption from Registration
- Regulation Crowdfunding – Exemption from Registration
- Regulation D – Exemption from Registration
Our clients can receive many of these courses at a significantly reduced fee or even at no expense at all. Contact us today or visit the FinProLaw website to learn more.
Please visit Michael’s website to learn more about Michael and his insights into the investment adviser industry. He can also be found on LinkedIn.