An investment adviser compensated for a client's participation in a wrap fee program must provide the client with a written disclosure statement containing:

An investment adviser compensated for a client's participation in a wrap fee program must provide the client with a written disclosure statement containing:


A) only the services and fees of the program.

B) at least the information required by Appendix 1 of Form ADV Part 2A, but not if another adviser has already furnished such a statement on the program to the client.

C) at least the information required by Appendix 1 of Form ADV Part 2A, even if another adviser has already furnished such a statement on the program to the client.

D) at least the information in Form ADV Part 2A.



Answer: B


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