RIA Compliance and Practice Management Blog

September 2019 RIA Compliance Software Innovations

Posted by RIA in a Box

Oct 3, 2019 8:14:08 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 September 2019: 

Sign-Up Now for Our Free Vendor Due Diligence Platform

1.  Free Vendor Due Diligence Platform

Third party vendor due diligence is one of the most critical cybersecurity compliance challenges that RIA firms face today. As more RIA firms migrate to cloud-based technology and vendors, proper vendor management and due diligence is becoming an even more important element of every investment advisory firm's cybersecurity compliance program. As a result of this growing regulatory and general business concern, we released a new free level of access to our Vendor Due Diligence platform available to all RIA firms. This version of the platform allows an RIA firm to connect with up to five vendors to help automate their third-party technology vendor due diligence review and documentation process.The industry leading technology providers currently available on the platform include Advyzon, Envestnet MoneyGuide, Morningstar, Redtail, Riskalyze, Orion, and Wealthbox. We will also continue to add new vendors on a regular basis. To join now, click here

investment adviser third party vendor due diligence process for cybersecurity

2.  Annual Compliance Program Review Tool

One of the most compliance deficiencies that appear during regulatory exams is the failure to properly conduct and document the firm's mandatory annual compliance program review as required by Rule 206(4)-7. To help the Chief Compliance Officer ("CCO") of RIA firms better streamline the annual compliance program review process, avoid these deficiencies, we recently launched our new Annual Review Tool as part of the MyRIACompliance® platform. The new tool centralizes and helps to automate the annual compliance program review process by breaking down each component into workable pieces ensuring completion of each step within the process. Once the firm's compliance program review has been completed, the system automatically creates an annual compliance program review report for easy retrieval upon request during the firm's next regulatory exam. 

RIA annual compliance program review software Rule 206(4)-7

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. 

Schedule a Demo of MyRIACompliance

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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