Compliance Pitfalls of Nonprofit Boards, @danbernstein talks with @BIConline.

Advisers who seek to give back to their community — while also attracting new clients — often consider serving on the boards of charities or nonprofits. However, just because the cause may be a worthy one doesn’t mean that there aren’t conflicts of interest or other pitfalls along the way. Dan Bernstein, chief regulatory counsel at MarketCounsel, says, “Sometimes people think, ‘Hey, it’s for a charity; I’m not making money off this.’ But it still rises to the level of having conflicts and supervision.” MarketCounsel is an Englewood, N.J.-based firm that offers business and regulatory consulting services to investment advisers.

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