Blog - Page 3 of 8

What Can RIAs Learn About the SEC’s Ponzi Scheme Charges?

February 12, 2021 by Mac Bartine Leave a Comment

On February 4, 2021, the SEC charged three individuals and their affiliated entities with running an alleged Ponzi scheme that raised over $1.7 billion from securities issued by an asset management firm and Registered Investment Adviser (RIA). Approximately 4,000 of the 17,000 retail investors defrauded were seniors. According to the SEC’s complaint, the defendants told investors that they would receive distributions from the profits of the portfolio companies. In fact, many of the payments came from the investors’ own funds.

RIAs Can Expect Big Changes with SEC’s New Marketing Rule

December 29, 2020 by Mac Bartine Leave a Comment

Guest post by Ara Jabrayan On December 22, 2020, the SEC enacted the new Marketing Rule, which will have an enormous impact on Registered Investment Advisers (RIAs). The new rule will replace the prior Advertising Rule, as well as the Cash Solicitation Rule. The SEC also amended Form ADV and the Books and Records Rule to implement changes resulting from the Marketing Rule. The SEC enacted the new Marketing Rule to protect investors from misleading advertisements and solicitations, while accommodating

Awesome Compliance Software: Mission Accomplished

November 16, 2020 by Mac Bartine Leave a Comment

Since our inception in 2016, SmartRIA’s mission has been to be the best software company in the world at simplifying compliance for wealth managers. It’s a tall order, but one that we believe is incredibly important, as wealth managers have significant regulatory burdens that need to be made achievable, while also ensuring the regulations’ purpose is maintained: the protection of our personal wealth. Towards this end, we have been working across 3 fronts: Solving more and more compliance problems inside

SmartRIA Announces a Deeper Partnership With SS&C Technologies’ Black Diamond Wealth Platform

November 13, 2020 by Mac Bartine Leave a Comment

Newly expanded relationship makes SmartRIA a preferred third-party compliance solution for Black Diamond clients Yesterday, SmartRIA announced an expanded relationship with SS&C Technologies’ Black Diamond® Wealth Platform. This alliance strengthens the deep integration between the two solutions with a committed focus and investment from both parties to advance the integration. “Our ability to maintain compliance workflows has been greatly enhanced with the partnership between Black Diamond and SmartRIA, and we are excited to experience the collaborative improvements from these critical

Growing Your Firm in Any Season (While Maintaining Trust and Compliance)

October 21, 2020 by Mac Bartine Leave a Comment

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

Copy of Social Feed Image 1200 x 627 (1)

Compliance in the Age of Pandemics

August 10, 2020 by Amy Easterly Leave a Comment

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

5 Ways to Proactively Prepare for an Audit

August 4, 2020 by Amy Easterly Leave a Comment

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

Why You Should Invest in Compliance Software

July 28, 2020 by Amy Easterly Leave a Comment

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

SEC Risk Alert Gives Advice to Private Fund Advisers

July 3, 2020 by Mac Bartine Leave a Comment

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

7 Easy Steps to RIAs Working Remotely Without Cybersecurity Risk

April 14, 2020 by Mac Bartine Leave a Comment

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