Software Archives - Smart RIA

Cybersecurity & You: The Care and Keeping of your Cyber Compliance

October 29, 2019 by Lindsay Elsten Leave a Comment

Physical robberies of financial institutions are becoming less common, but cyber attacks are only getting more common. Today, everyone understands that protecting your clients and company is paramount to staying in any financial services game. However, most decision makers of financial institutions don’t know where to start. Fortunately, the SEC has given some guidelines on how to begin managing cybersecurity compliance risks according to their standards: Know what employees have access to and limit access where you can. Loss prevention

Software to Replace Your Investment Advisor Compliance Checklist

SS&C’s Black Diamond Wealth Platform and SmartRIA Announce Integration Partnership to Streamline Compliance Surveillance

April 22, 2019 by Mac Bartine Leave a Comment

SmartRIA today announced an integration with SS&Cs’ Black Diamond Wealth Platform to significantly streamline the surveillance of compliance activities for well-established RIA firms. The direct connection between the two systems allows RIA firms to use Black Diamond data within SmartRIA. The shared data creates a 360-degree view of client households, which facilitates surveillance of mission critical compliance issues. These can include: client annual reviews, trading inactivity and high account cash balance alerts, viewing and reporting on accounts by discretionary/non-discretionary status

Compliance Budgets Up by 9%, But CCOs Say the Real Cost is Time

December 13, 2017 by Mac Bartine Leave a Comment

It’s been a disappointing year for those who thought the new administration would quickly roll back regulations and oversight in the financial industry, including state and SEC compliance for Registered Investment Advisors. This time last year, some RIAs were hoping to decrease their compliance budgets and apply those dollars to other efforts. Contrary to expectations, WealthManagement.com reports that compliance budgets are up by nine percent this year. While some regulatory changes, including the Department of Labor’s Fiduciary Rule, have been

Manage More Clients in Less Time with this RIA Software Tool

December 13, 2017 by Mac Bartine Leave a Comment

Working as a RIA compliance consultant, you need to account for every step of the process, including new client on-boarding, compliance tasks, document storage, and employee management, to audit preparation. You’ll also encounter last-minute items that constantly get added to your checklist. If you’re not using an RIA software solution that makes your job easier, faster, and more efficient, then your business could be wasting precious time and money that could be spent in more profitable (or more fun!) ways. RIA

3 Tools for RIA Compliance Consultants

December 12, 2017 by Mac Bartine Leave a Comment

When you’re an RIA compliance consultant, chances are you’ve got more than one job title. In a small business especially, you might also serve as the company CEO, CCO, accountant, social media administrator, human resources representative, or office manager. To perform any or all of these duties well, you need easy-t0-use tools for RIA compliance consultants that can help to optimize your workflows. You’ve got a lot to deal with, and juggling so many tasks can negatively impact your ability

Attention RIAs: Updated Form ADV Now Includes Your Social Media Accounts

December 4, 2017 by Mac Bartine Leave a Comment

In October, the SEC announced several changes to Form ADV, the main reporting document for registered investment advisors (RIAs). One of these changes illustrates just how much social media has permeated the business landscape and how it can affect your company if not managed properly. What you post on social media can have real repercussions on your career. That’s right, the sage advice you’re given before leaving school to pursue your first job applies even when you’ve established a career

How to Hire a CCO to Manage RIA Compliance

November 20, 2017 by Mac Bartine Leave a Comment

Registered investment advisors must have someone in place to manage RIA compliance with SEC and state regulations, a position commonly known as the chief compliance officer. It’s a vital role, and finding the right fit for CCO could be the deciding factor that makes or breaks a firm.

What Is RegTech and How Can It Help RIAs?

November 6, 2017 by Mac Bartine

Short for regulatory technology, RegTech is a subset of FinTech (financial technology), which encompasses software and cloud-based applications designed to help professionals like RIAs and compliance consultants navigate federal and state regulations.

Why RIA Compliance Is a Major Competitive Advantage

May 25, 2017 by Mac Bartine

You know that there are many obstacles that could keep you and your firm from being successful. Being in a competitive industry means running your business competitively. While some firms may look at SEC and state RIA compliance as a burden, making it a priority can give you a powerful edge against them.

Stay Out of the Penalty Box with RIA Compliance Software

May 16, 2017 by Mac Bartine

As a registered investment advisor, it’s only a matter of time until you get audited. Audits by SEC or state regulators can happen at random, or be triggered by an issue. It’s not a matter of if, but a matter of when, so you need every tool at your disposal to ensure that you’re—and that includes your RIA compliance software.