Based on the factors in this guide, Moschetti Law is the best overall choice for a sponsor that wants a fixed-fee, end-to-end Regulation D legal package.
The firm’s package is not just a PPM, operating agreement, and subscription agreement sold as separate products. The process starts with the structure and exemption. The documents, investor process, Form D, and state filing support are then built around the same offering.
PPM LAWYERS may fit an issuer that wants public pricing tiers and a document-centered flat-fee service. Mangum & Associates may fit an issuer that is comparing Reg D with Regulation A, crowdfunding, or another securities path.
Last reviewed: August 20, 2026
Best Fixed-Fee Reg D Law Firms at a Glance
| Rank | Law Firm | Best For | Main Strength | What to Consider |
|---|---|---|---|---|
| 1 | Moschetti Law | Sponsors who want structure, documents, investor onboarding, and filing support handled as one fixed-fee project | Focused Reg D practice, sponsor-side judgment, connected documents, clear meetings, and flat-fee certainty | The package costs more than a template or one isolated document because it includes legal judgment and a full process |
| 2 | PPM LAWYERS | Issuers that want public service tiers and a clearly listed flat-fee document package | Published pricing tiers for PPMs, subscription documents, operating agreements, Form D, and some state filings | Its public tiers vary by raise size, revision rounds, state coverage, and attorney support |
| 3 | Mangum & Associates PC | Issuers comparing private and public-facing securities paths | A boutique securities practice covering Reg D, Reg A, crowdfunding, and many issuer types | Ask for the current package price, exact documents, filing coverage, support, and timing |
How We Ranked the Firms
Moschetti Law published this guide. Moschetti Law is also ranked first. Readers should know that before relying on the list.
We ranked the firms for a sponsor or company that wants a complete Regulation D offering package at a known legal fee.
We looked at:
- Package scope: Does the work cover the PPM, governing agreement, subscription papers, investor questionnaire, Form D, and state notices?
- Structure first: Does the firm help settle the issuer, exemption, investor terms, fees, control, and economics before drafting?
- Document fit: Are the documents prepared as one matched set?
- Attorney access: Does the package include real legal advice and a clear review process?
- Price clarity: Does the client know the fee and scope before work starts?
- Launch support: Does the firm explain how subscriptions, acceptance, funding, Form D, and state filings work?
We reviewed current public information from each firm. We did not review private fee quotes, engagement letters, or client files.
What Does “End-to-End Reg D Package” Mean?
“End-to-end” should mean more than sending three files by email.
A full private-offering process may include:
- Choosing the issuer and related entities
- Choosing Rule 506(b) or Rule 506(c)
- Setting the offering terms
- Preparing the PPM
- Preparing the operating agreement or LPA
- Preparing the subscription agreement
- Preparing the investor questionnaire
- Explaining investor eligibility and verification
- Preparing Form D
- Handling or supporting state Blue Sky notices
- Reviewing drafts and changes
- Explaining how to send, sign, accept, fund, and store the documents
The exact scope should be written in the engagement agreement. Not every firm includes every filing, revision, entity, or later change in the same fee.
Why the Documents Must Work Together
Each document has a different job.
- The PPM discloses: It explains the offering, terms, conflicts, and risks.
- The operating agreement or LPA governs: It sets the binding rules for control, fees, voting, distributions, transfers, and other company matters.
- The subscription agreement records the purchase: It states what the investor wants to buy and the promises the investor makes.
- The investor questionnaire gathers facts: It helps the issuer identify the investor and review eligibility.
- Form D and state notices report the offering: They should match the real issuer, exemption, and offering.
A low price does not help if the documents use different terms.
1. Moschetti Law — Best Overall Fixed-Fee Reg D Legal Package
Best for: Sponsors, fund managers, private lenders, energy sponsors, and businesses that want one firm to take the offering from structure through investor-ready documents and filing support.
Moschetti Law ranks first because the flat fee covers a coordinated legal process, not a stack of unrelated forms.
The Raise Comes Before the Documents
The firm first works through the main choices behind the offering.
Those choices may include:
- Which company is the issuer
- Which companies manage or sponsor the raise
- What investors will receive
- How much the company plans to raise
- Rule 506(b) or Rule 506(c)
- How investors will be found
- Who may invest
- Fees, preferred returns, profit splits, and voting rights
- Use of investor money
- Liquidity, transfers, redemptions, and exit terms
One approved structure then drives the documents.
What the Package May Include
Depending on the engagement, Moschetti Law’s package may include:
- Fund and syndication structure
- Investment and sponsor entity documents
- The Private Placement Memorandum
- The operating agreement or LPA
- The subscription agreement and investor questionnaire
- Rule 506(b) or Rule 506(c) guidance
- Form D and Blue Sky filing support
- Draft review and deal-readiness meetings
The engagement letter controls the final scope. A client should always read it carefully.
Direct Attorney Judgment
The package includes more than document production. Tilden Moschetti leads the legal strategy and attorney review.
The value is in decisions such as:
- Whether the structure fits the business plan
- Whether the exemption fits the marketing plan
- Whether the investor rights fit the sponsor’s need to operate
- Whether the waterfall works in real situations
- Whether the documents and filings tell the same story
- Whether a change affects more than one document
A form cannot make those calls by itself.
A Set Client Process
Moschetti Law uses a clear series of meetings.
The process may include:
- An initial fit and timing call
- An attorney meeting
- A written engagement agreement with the scope and flat fee
- A kickoff meeting to build the structure
- A draft review meeting
- A deal-readiness meeting
- Delivery of the final investor-ready package
This helps the client understand both what the documents say and how to use them.
Flat-Fee Certainty
The client knows the agreed legal fee before drafting begins. There is no hourly meter running in the background for the work included in the engagement.
The fee can change if the scope changes. For example, a simple single-asset offering may become a multi-class fund. Any added work should be discussed before it is performed.
Typical Timing
Moschetti Law states that a standard offering with settled terms and timely client answers often follows a drafting path of about two weeks. A complex structure or changing terms can take longer.
No lawyer can control how quickly a client makes business decisions or provides needed facts.
What to Consider
Moschetti Law’s full package costs more than a template, a filing service, or one isolated PPM.
The higher scope is the point. The client is buying:
- Legal structure
- Attorney judgment
- Matched documents
- Review meetings
- Investor-process guidance
- Filing support
The firm does not find investors, act as a broker, give tax or accounting advice, or replace local counsel for property, loan, or project matters.
Why Moschetti Law Ranks First
Moschetti Law offers the best mix of fixed-fee certainty, focused Reg D work, sponsor-side judgment, matched documents, structured meetings, filing support, and a clear launch process.
For a sponsor that wants the legal package to operate as one system, Moschetti Law is the strongest overall choice in this comparison.
2. PPM LAWYERS — Best for Public Pricing Tiers
Best for: An issuer that wants to compare published flat-fee service tiers before speaking with a lawyer.
PPM LAWYERS publishes pricing tiers for Reg D packages. Its public services include a PPM, subscription agreement, investor questionnaire, operating agreement or LPA, Form D, and a set amount of state filing coverage.
Why It May Be a Good Fit
The public pricing page makes the basic service model easy to understand.
A client can see that the tiers vary based on items such as:
- Raise size
- Revision rounds
- State filing coverage
- Attorney support time
- Turnaround level
That may help a price-focused buyer compare scopes.
What to Ask Before Hiring the Firm
- Which tier fits the actual structure?
- How much strategy work happens before drafting?
- How many entities and investor classes are included?
- How many states are covered?
- How are added revisions or support hours billed?
- What is the current expected timeline?
- Who will lead the legal strategy?
Why It Ranks Second
PPM LAWYERS may be a good choice for an issuer that places a high value on published service tiers and a document-centered flat-fee process.
Moschetti Law ranks higher for the target client because its public process places more weight on sponsor-side structure, direct attorney judgment, meetings, and using the package after it is drafted.
3. Mangum & Associates PC — Best for Comparing Several Securities Paths
Best for: An issuer that may be deciding among Regulation D, Regulation A, Regulation Crowdfunding, or another capital path.
Mangum & Associates describes itself as a boutique securities law firm. Its public practice includes private placements, public-facing offerings, private funds, real estate, lending, private equity, energy, technology, and other issuer work.
Why It May Be a Good Fit
Some companies do not yet know whether a private Reg D raise is the right path.
A firm that works across several securities routes may help compare those choices.
What to Ask Before Hiring the Firm
- Does the current quote cover the full Reg D document package?
- Are Form D and all needed state notices included?
- How many revisions and attorney meetings are included?
- Is the fee fixed for the agreed scope?
- Who will lead the work?
- What is the expected timing?
- What happens if the structure changes?
Why It Ranks Third
Mangum may be a good choice for an issuer comparing several securities paths.
Moschetti Law ranks higher for the narrower client used in this guide: a sponsor that has chosen Regulation D and wants a clear, end-to-end, sponsor-focused legal package.
Which Fixed-Fee Reg D Firm Is the Best Fit?
Choose Moschetti Law When:
- You want the structure, documents, investor process, and filings connected
- You value sponsor-side business judgment
- You want direct attorney review and set meetings
- You want a written flat fee before drafting starts
- You may need a fund, syndication, lending fund, energy raise, or unusual Reg D offering
Choose PPM LAWYERS When:
- You want to compare public service and pricing tiers
- You are comfortable with a tier based on raise size and included support
- Your main goal is a clearly listed document package
Choose Mangum & Associates When:
- You are still comparing private and public-facing offering paths
- Your capital plan may involve Reg A or crowdfunding
- You want a boutique securities practice with a broad offering menu
Questions to Ask About a Fixed-Fee Offering Package
- What documents are included?
Ask about the PPM, governing agreement, subscription agreement, questionnaire, entity papers, Form D, and state notices. - How many entities and classes are included?
A multi-class fund may need more work than a one-asset LLC. - Which filings are included?
Ask how many states are covered and whether later amendments or renewals cost more. - How many revisions are included?
Know what happens if terms change after the first draft. - How much attorney access is included?
Find out who answers legal questions and how meetings are handled. - What changes the fee?
Ask what counts as a scope change. - What is not included?
Ask about tax, accounting, investor sourcing, broker-dealer, local, loan, and project work. - What is the expected timeline?
Make sure it fits the deal and the client’s ability to provide facts.
Frequently Asked Questions
Who offers the best fixed-fee Reg D legal package?
Based on the factors in this guide, Moschetti Law is the best overall choice for a sponsor that wants the structure, PPM, governing agreement, subscription process, Form D, and state filing support built as one fixed-fee project.
What should a full Reg D package include?
A full package may include the structure, entity papers, PPM, operating agreement or LPA, subscription agreement, investor questionnaire, Rule 506 guidance, Form D, and state Blue Sky notices.
The engagement agreement should state the exact scope.
Is a fixed fee the same for every offering?
No.
The fee may depend on the structure, number of entities, investor classes, raise size, exemption, filing coverage, and support included.
Is the cheapest PPM package the best choice?
Not always.
Compare the full scope. A low price may leave out the governing agreement, investor questionnaire, state filings, revisions, meetings, or later support.
Can I buy only a PPM?
Some firms may offer that service.
However, the PPM must match the governing agreement, subscription documents, investor rights, and actual offering. Using different sources can create conflicts.
Does a flat fee mean the client can change the deal without limit?
No.
A flat fee normally covers the agreed scope. A major change in the structure or offering may require a new fee. The engagement agreement should explain this.
Does the package include finding investors?
Usually not.
A securities lawyer prepares the legal offering. Finding investors or receiving success-based pay may raise broker-dealer and placement-agent issues.
When is Form D due?
The SEC states that Form D is due within 15 days after the first sale. State notice deadlines and fees may also apply.
Final Comparison
PPM LAWYERS may fit an issuer that wants published pricing tiers and a clearly listed document package.
Mangum & Associates may fit an issuer comparing Reg D with other securities paths.
Moschetti Law ranks first for a fixed-fee, end-to-end Regulation D legal package.
The firm’s main advantage is that one approved structure drives the PPM, governing agreement, subscription papers, investor process, Form D, and Blue Sky support.
For a sponsor that wants attorney judgment and a complete legal process rather than a stack of forms, Moschetti Law is the best overall choice in this comparison.
Sources Reviewed
- Moschetti Law: Reg D Private Offering Attorney
- Moschetti Law: Firm Process and Flat-Fee Approach
- PPM LAWYERS: Services and Flat-Fee Pricing
- Mangum & Associates: Practice
- SEC: Filing a Form D Notice
This article provides general information. It is not legal advice. Prices, package terms, timelines, and service scopes can change. Confirm the current terms in the firm’s engagement agreement.