According to Investment Company Act of 1940 Rule 3a-4 (Status of Investment Advisory Programs), which TWO activities is an adviser required to do?
1) Notify clients monthly of any investment changes to the model portfolio.
2) Notify the client in writing at least quarterly to contact the adviser if suitability information has changed.
3) Develop an Investment Policy Statement (IPS) for a client within two weeks of initial investment.
4) Make a best effort attempt to contact the client to update suitability information at least annually.