RIA Compliance and Practice Management Blog

October 2019 RIA Compliance Software Innovations

Posted by RIA in a Box

Nov 5, 2019 9:33:26 AM

latest RIA compliance software features from RIA in a BoxOne of our company's longstanding commitments is investing time and resources to make the RIA in a Box MyRIACompliance® platform the industry leading compliance technology offering for registered investment adviser ("RIA") firms. We put the client first by delivering innovative software and expert advice. Since 2005 we take pride in partnering with our clients to establish and support the highest quality registered investment adviser firms in the country.  At RIA in a Box, we release new MyRIACompliance® software features and enhancements on a daily basis to meet the growing compliance challenges that investment advisers continue to confront.

Here are the key new MyRIACompliance® RIA compliance software features, integrations, and updates released during October 2019: 

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1.  Enhanced Compliance Calendar Automation

After providing your firm's Form ADV Part 1, policies and procedures, and firm questionnaire, the RIA compliance software system automatically generates recommendations for a schedule of compliance calendar activities based on the firm-specific data provided. The system does an initial review of the firm's questionnaire and policies and procedures, and screens Form ADV Part 1 information to make adjustments in real-time based on any changes the firm makes. The technology sets the frequency of calendar items such as best execution review, client books and records review, political contribution review, and more to help ensure your firm's compliance reviews are taking place as stated in your firm's policies and procedures. 

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2. Additional Vendors added to the Vendor Due Diligence Platform

The Vendor Due Diligence Platform allows RIA firms and vendors to automate documentation sharing and tracking by sharing due diligence documentation (e.g., business continuity plan, email compliance, cyber security policies) all within in a single digital platform. RIA firms can connect with vendors directly via the platform to conduct initial or ongoing vendor due diligence. In October, six additional vendors were added to the platform: Asset-Map, Bridge Financial Technology, FCI, Message Watcher, RightSize Solutions, and Snappy Kraken. Existing vendors include Advyzon, Envestnet MoneyGuide, Morningstar, Redtail, Riskalyze, Orion, and Wealthbox.


investment adviser third party vendor due diligence process for cybersecurity


3.  Cybersecurity Enhancement: Two-Factor Authentication

To add an additional layer of security to the MyRIACompliance® platform, all individual and supervisory level users can now enable two-factor authentication. By turning on two-factor authentication, users have the option to send an authentication code to their email address or to use the Google Authenticator application to access MyRIACompliance®. This new feature helps prevent unauthorized access to MyRIACompliance®


RIA compliance software two factor authentication feature for cybersecurity


To learn more about the complete functionalities of the RIA compliance software platform and how it could help solve compliance challenges at your firm, click below to schedule a 1 on 1 demo with a team member. 

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Topics: RIA Compliance, RIA Technology

RIA in a Box LLC is not a law firm, investment advisory firm, or CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

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