Local RIA Discovers Client Actually Read Entire ADV, Immediately Retires

"I didn't think anyone would actually read all 47 pages," says advisor who now has to explain what "best execution" means.

Veteran advisor Dale Whitfield, 58, learned of the breach Tuesday when client Marvin Osterhout emailed a 14-point list of follow-up questions, including a request to clarify the disclosed conflict of interest on page 31. "In twenty-three years, no one has made it past the cover page," Whitfield said. "He highlighted things. He used tabs." Whitfield has since listed his book of business and signed up to be an Uber Eats driver.