RIA Compliance and Practice Management Blog

Announcing the Latest RIA in a Box Client Service Enhancements

Posted by RIA in a Box

Sep 4, 2017 9:30:00 AM

RIA in a Box team photo client servicesAt RIA in a Box, we’re very fortunate to support over 1,500 registered investment adviser (“RIA”) firms to help better manage compliance and create high quality, thriving enterprises. As our firm has grown, our measured client satisfaction scores remain incredibly strong. But we are not satisfied to stay in place and instead maintain a relentless focus on delivering an exceptional client experience. With the theme of constantly improving our product and client experience always top of mind, we are excited to announce the latest enhancements to how we serve our clients.

Download our 2017 RIA Technology Landscape Infographic

Your New and Improved Client Advocate

Previously, our client services team was divided by geography, with each member handling both direct client communication and service requests. We’ve decided to shift to a more client-centered structure, with a team of Client Advocates focused exclusively on Client Success and a separate team of Compliance Analysts focused solely on firm and individual advisor registration matters and Form ADV updates.

This new structure will enable our Client Advocates to focus more on you - ensuring not only that your requests get completed, but also that your questions get answered quickly, that your business needs are understood and that MyRIACompliance remains the highest quality and most efficient tool to accomplish compliance and operational responsibilities. This Client Advocate will serve as dedicated point of contact to help manage all interactions with our firm to ensure we always deliver coordinated, customized, and personal service. This new alignment will also enable our Compliance Analysts to focus exclusively on registration and other Form ADV matters, enabling that experienced team to handle your registration and Form ADV needs with exceptional accuracy and turnaround time.

Constant Regulatory Change Matched by Constant Service Enhancements

With the upcoming Form ADV changes taking effect on October 1, 2017 and the new Department of Labor (“DOL”) Fiduciary Rule in effect since June 9, 2017, regulatory change continues to be constant. As regulations evolve, so does our service. We’ve developed a series of tools and educational content to help our clients comply with the new DOL Fiduciary Rule and will continue to address your questions. We also stand ready to help our clients meet the new Form ADV requirements. Our recent communication and changes to our Request ADV Changes feature on MyRIACompliance is one small example of how we adapt to serve our clients.

Optimizing You Firm’s Onboarding Experience

While there are many common characteristics we observe from firm to firm, every RIA firm is also unique in its own ways. Often, these unique characteristics are discussed in detail with our sales team during the discovery process. We also recognize how frustrating it can be for a client to have to explain their firm’s unique business model and compliance challenges to multiple members of our team. While this “knowledge transfer” from the sales to client service team has always been a focus, we have now released internal communication tools and processes to ensure that we always respect our newest clients’ precious time.

This systematized knowledge transfer process also allows to ensure that each client’s onboarding experience is customized to their unique needs and goals. If you’re supervising a large team of advisors, we are going to tailor your onboarding experience to ensure that you have full grasp of our system’s robust supervision tools. On the other hand, perhaps you have a compliance question that you urgently need to ask your dedicated compliance consultant? In that case, the onboarding experience will be customized to allow that conversation to happen as soon as possible.

MyRIACompliance Software Paired with Expert Support

New regulatory changes coupled with advancements in technology allow us to continually release new MyRIACompliance software features to help our clients better manage new and existing regulatory requirements. Far too many Chief Compliance Officers today still utilize pen and paper and manual processes to implement their firms’ compliance programs. We are passionate believers that firms can greatly benefit from implementing a single online compliance software platform. We are committed to continuing to expand our software’s features to allow for this reality. It’s why for example we just recently released our latest feature: online employee trade monitoring. With our software’s constant enhancements, we also recognize that we need to continually train and educate our clients on the system’s latest improvements. That’s why we continue to expand our client success team and always stand ready to offer additional training and support.

We look forward to this new phase and are confident that our commitment to be a client-focused team organization will continue. We will never shy away from further opportunities to improve and enhance the client experience no matter how challenging they may be to implement. At RIA in a Box, change is constant and we’d never want it to be any other way.

Download the Checklist on how to Comply with the DOL Fiduciary Rule

Lexington Compliance and RIA in a Box LLC are not law firms, investment advisory firms, or CPA firms. Lexington Compliance and RIA in a Box LLC do not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

Topics: RIA Operations, RIA Compliance

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