If you’re a solo Registered Investment Adviser (RIA), your success hinges on trust, transparency, and accountability. But none of those can be proven without one thing: documentation. From client communications to marketing materials, the SEC’s Rule 204-2 demands that every decision, trade, and disclosure be backed by a paper trail—or a digital one. 

This isn’t just about staying compliant. It’s about protecting your firm, your clients, and your reputation. 

What Is the Books and Records Rule? 

Under SEC Rule 204-2, RIAs must maintain true, accurate, and current records of their advisory business. These records must be: 

• Retained for at least five years 

• Stored in an easily accessible location for the first two years 

• Protected from tampering, loss, or unauthorized access 

Whether you’re state-registered or SEC-registered, this rule applies. And yes, solo RIAs are held to the same standard as multi-adviser firms. 

What Records Must Solo RIAs Keep? 

Here’s a breakdown of the essential categories: 

Client & Advisory Records 

• Agreements, financial plans, meeting notes 

• Investment recommendations and trade confirmations 

• Documentation of discretionary authority 

Financial & Transaction Records 

• Bank statements, invoices, billing records 

• Trade blotters and order memoranda 

• Cash reconciliations and internal audit papers 

Marketing & Advertising Materials 

• Website content, email campaigns, social media posts 

• Performance claims and client testimonials 

• Records of disclosures under the SEC’s Marketing Rule 

Compliance Policies & Procedures 

• Code of Ethics and violation logs 

• Cybersecurity protocols and business continuity plans 

• Annual reviews and updates to written policies 

Disclosure & Registration Documents 

• Form ADV filings and amendments 

• Privacy notices and solicitor agreements 

• Documentation of client delivery dates 

Why Recordkeeping Is More Critical Than Ever 

The SEC isn’t just asking if you have records—they’re demanding to see them. And with increased scrutiny on digital communications (texts, social media, encrypted messaging), solo RIAs must: 

• Archive all client communications 

• Maintain secure, searchable storage systems 

• Prove compliance with every claim and recommendation 

Failure to do so can lead to fines, audits, or even loss of registration. 

Common Pitfalls That Trigger SEC Action 

• Missing or outdated records 

• Unsubstantiated marketing claims 

• Poor cybersecurity practices 

• Incomplete documentation of client consent 

Even well-intentioned advisers can trip up. And when they do, the SEC doesn’t hesitate. 

You’re an Adviser, Not a Compliance Archivist 

You built your firm to serve clients and grow assets under management (AUM)—not to spend hours organizing PDFs and chasing down old emails. Yet without airtight documentation, your business is exposed. 

So why not delegate the burden? 

Let LawVisory Handle the Hassle 

LawVisory specializes in helping solo RIAs stay compliant with SEC and state regulations—without the stress. From building your recordkeeping system to reviewing your policies and prepping for audits, we take care of the details so you can focus on what matters most. 

👉 Ready to simplify your compliance and reclaim your time? 

Speak to LawVisory today and let us help you build a bulletproof compliance foundation while you focus on growing your firm.