Registered investment adviser ("RIA") firms utilizing our MyRIACompliance RIA compliance software platform benefit from our integration with Orion which is one of the leading portfolio management and reporting software providers according to our most recent industry study. The integration allows a joint Orion and RIA in Box MyRIACompliance client to automate compliance and registration requirements to help ensure consistent and accurate registration and Form ADV information is filed.
Today, over 100 RIA firms utilize both Orion and MyRIACompliance to help better engage with clients, streamline operations, and automate regulatory compliance requirements. RIA in a Box is also honored to be named a three-time "Best in Show" award winner at the Orion 2015, 2016, and 2017 Fuse hackathon events.
There are several key benefits to an RIA firm that utilizes both Orion and MyRIACompliance:
- Real-time updates on their registration and compliance needs, eliminating the time-consuming demands of tedious manual entry processes.
- By sourcing data from Orion and running it in tandem with RIA in a Box's MyRIACompliance software, the integration enables firms of all sizes to seamlessly track registration and notice filings to ensure compliance requirements are updated in real-time.
- The integration provides advisors with enhanced capabilities, such as the real-time ability to ensure the firm is properly registered in proper jurisdictions.
MyRIACompliance Registration Compliance Checker Tool:
Today, most RIA firms have to take the following manual steps to ensure that their firm is proper registered or notice filed in the relevant jurisdictions:
- Download client household location and other information from the relevant custodians or portfolio management and reporting systems
- Aggregate and compile data from multiple systems into a spreadsheet
- Organize the spreadsheet by client household location
- Sum up the number of client households in each regulatory jurisdiction
- Check to see which jurisdictions the firm is currently registered or notice filed in
- Check state by state de minimis registration rules to determine where the firm is required to be registered or notice filed
- Identify which states to register or notice file in
- Utilize the investment adviser registration depository ("IARD") system to file the proper state registrations or notice filings
With this automated integration, the firm has real-time access to where the firm is currently registered or notice filed and the number of client households located in each state along with the ability to immediately initiate the state registration and notice filing process all within the MyRIACompliance system. With this automated compliance tool, firms can immediately identify and address potential registration issues that require immediate attention.
The Orion and MyRIACompliance integration is free to access for RIA firms that utilize RIA in a Box's MyRIACompliance software and the Orion system. If you are a current MyRIACompliance and Orion client, please feel free to contact your MyRIACompliance client service representative for details on how to setup the integration.
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.