In this article, Blain Wease, President of Provincial Development Group, and Mac Bartine, CEO of SmartRIA, explore the 5 dimensions of growth and how a culture of compliance can help to support and organize execution of those dimensions. We’ll be exploring these in depth in our upcoming webinar. Growing Your Firm in Any Season The skill sets required to grow any business share dimensions from both art and science, and wealth management firms are no exception. We typically find one
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The COVID-19 pandemic has been a catalyst for dynamic change for advisor businesses in all but one area – the ongoing and inexorable march of regulation and compliance. Many regulatory deadlines and expectations have not been deflected by the real-world chaos that advisory firms are dealing with. A quick breather and a situational analysis on this front can be helpful. To get a better sense of the regulatory environment amidst this pandemic, we decided to check in with Institute founding
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An upcoming audit often causes sleepless nights for even the most capable professionals. With an increase of SEC exams, it’s not a question of if your firm will be audited but when. Be proactive and start to prepare now to feel confident that you’re fully ready for your next exam. The Audit Process Usually, firms receive a two-week notice before an exam. But, there are cases when an examiner shows up unexpectedly. It is important to remember that audits will
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Compliance. It’s tedious, complex, and confusing, especially with regulatory changes and at least yearly changes in exam focus. However, compliance is essential to the success of your firm. Investing in compliance software will save you time, money, and stress in the long run. Choosing the correct solution is important to get the most out of your investment. You want to make sure you get it right the first time, especially with so many novel solutions offered. SmartRIA offers a robust
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On June 23, 2020, the SEC published a Risk Alert, which summarized compliance issues discovered during hundreds of examinations of investment advisers that manage private equity funds or hedge funds. Examiners from the SEC’s Office of Compliance Inspections and Examinations (OCIE) made a number of observations that can help private fund advisers to revise and improve their policies and procedures. Advisers can also use OCIE’s findings to avoid committing similar mistakes at their own firms. The Risk Alert is a
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When we’re all still stuck at home due to the COVID 19 pandemic, the last thing we need to add to our anxiety is a hacker sneaking off with clients’ data – along with those clients’ confidence in their advisors and wealth management firms of choice. Cybersecurity experts have been able to hack into RIA networks using a variety of common workplace mistakes that are even more likely to be committed when we’re working at home. The good news is
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Hello, friends. I hope this coronavirus update from SmartRIA finds you healthy and safe at home. I’m writing to let you know a few things about how SmartRIA is handling coronavirus, how our situation might affect our customers, and in general, to share our thoughts at this difficult moment for everyone. First: as of last week, the SmartRIA team is working from home to do our own small part to help stop the spread of coronavirus. We’re still on the
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As a financial advisor, you know that maintaining federal regulations and client expectations are paramount to the success of your firm. But did you know that creating a culture of compliance is one of the best ways to truly uphold those standards and expectations? It is! Compliance isn’t a one-time, singular occurrence for any firm, it’s a constant series of choices and actions that you and every member of your team are responsible for each day. As a rule, every
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As a registered investment advisor, whether new or well-established, you probably hear the word “compliance” on a daily basis. But what’s the best way to maintain compliance, why should you even bother with it (okay, yes you probably already know that one), and where did it originate? These are all great questions, and lucky for you, we’ve got all the answers ready for you in SmartRIA’s Complete Guide to RIA Compliance. Just sit back, grab a snack if you want,
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As the most complete and comprehensive RIA compliance platform on the market, SmartRIA consistently aims to expand and adapt to meet user needs before they are even an issue. That’s exactly what our company focused on in 2019 — and with our record revenue growth, this strategy will continue to allow us to be your most powerful compliance partner. Over 2019, we more than doubled in size, acquired two other compliance platforms, built and launched major additions to our own
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