Lance C. Dial Email & Phone Number

Boston, Massachusetts, United States

I closed the circle by re-joining K&L Gates in their asset management group. After nearly fifteen years of developing a diverse set of experience in the asset management space, including two in-house roles and a partner position at another major law firm, I plan to bring that experience to bear for our clients. I have practiced in most every element of asset management law, from regulatory matters (compliance, marketing, regulatory policy) to product management and creation of all types of investment products (including mutual funds, ETFs, money market funds, private funds and CITs/CTFs). What's more, at K&L Gates, I'm supported by a tremendous network of experts, many of whom were here before I started my circuitous journey 15 years ago!

Boston, Massachusetts, United States

At Morgan Lewis, I really re-learned the art of practicing in a large law firm, and I learned the art of being a partner at one! Morgan Lewis also allowed me the opportunity to stretch my practice into new areas (e.g., investment adviser M&A), as the firm was filled with experts who could lead effectively.

Boston, Ma

At Wellington Management, I supported our client-facing business teams, which included our mutual fund subadvisory unit representing about half of Wellington assets. I also branched out into entirely new areas for me, requiring organization of complex, multi-business-group projects, such as regulatory implementation (looking at you, liquidity rule) and regulatory engagement (new 17a-7 anyone?), while still providing core support to our mutual fund sub advisory business and our marketing teams. My work and impact ranged from new business models in Mexico to becoming fluent in Canadian mutual fund regulation. I worked with our teams to launch subadvised ETFs for our clients and to develop subadvised SMA/wrap programs. I also worked to help the firm navigate the emerging legal issues relating to ESG investing.

My career then took me in-house to State Street Global Advisors (SSgA at the time). I joined the leanly staffed legal team as one of two attorneys supporting the mutual fund business, which included ETFs (2d largest ETF sponsor at the time); money market funds; actively managed mutual funds; securities lending collateral pools; and mutual fund subadvisory client relationships, including model delivery programs and SMA/wrap fee products. Then my boss quit, making this experience a true trial by fire, taking on primary legal support for SSgA's mutual fund business alone, as a 4th year attorney!Here, I learned what it was to be an in-house counsel and a trusted business partner. I also learned how the business actually works in practice, which is entirely different than how it should work in theory -- or even how the law assumes (or hopes) the business works! I also saw the impact giant enforcement actions can have on an organization; how a company can navigate massive governance changes; and the importance of being able to make decisions and formulate advice with incomplete information.The exposure I received at SSgA was priceless for my growth. I was involved in everything from the creation of entirely new ETF business structures (first master/feeder ETFs, first actively managed bank loan ETF) to managing liquidity/valuation crises (remember "money good" from 2008?); from dissolving unwanted businesses to managing board relationships; and from regulatory engagement to enforcement response -- SSgA was a great place to learn about how a business should (and should not) be run.

I joined KL Gates (actually, Kirkpatrick & Lockhart LLP at the time) in 2005 -- a bit off cycle actually. I was a summer associate at the firm in 2004, and then stayed on as a law clerk from September 2004 until I passed the bar exam in June 2005. I didn't actually intend to join the investment management practice area, but that's where KL needed support at the time, so that's where I went -- and I loved it. I worked with phenomenal people and learned a ton about mutual funds (including WHAT a mutual fund was!), investment advisers, compliance programs, broker-dealers and commodity trading advisors. I also learned how to conduct a compliance examination, manage significant SEC enforcement actions (getting the best possible settlement for our client) and draft disclosure documents. My work went international too, learning about adviser registration requirements across the globe (especially Latin America) and also how to avoid or minimize) adviser registration in the United States.Most importantly, I learned how to be a lawyer; how to counsel clients, identify their issues and find creative solutions. I also learned how to write, and, yes, how to cope with working nights/weekends/vacations. But all told, KL was a phenomenal place to launch my career.

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