So you're SEC-registered. Congrats. You've made it through the Form ADV gauntlet, picked a custodian, and you're officially in business. Now what?

Here's what most new advisers don't realize: you're already on the SEC's radar. The Division of Examinations' FY2026 published priorities explicitly state that newly registered advisers are a priority for examination. Not "might get around to it." Priority. They want to see that you're building a robust compliance program from day one, not figuring it out after you get the exam notification letter.

The first thing they'll expect to find is a written compliance program. Specifically, Rule 206(4)-7 under the Investment Advisers Act requires every registered adviser to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act.

In plain English: you need a document that proves you're putting your clients' interests above your own. Every time. Especially when you're buying stocks, ETFs, or any security for their portfolios.

Rest of the post stays the same. That one addition turns it from general advice into "you need to act now because the SEC literally said they're coming for new firms first." Way more urgency, and it's backed by the actual published priorities.