RIA Compliance and Practice Management Blog

The findings in this blog post come from our annual survey of over 1,600 registered investment adviser ("RIA") firms that was conducted in the first quarter of 2020. This proprietary RIA in a Box study is paired with publicly accessible data provided by the Securities and Exchange Commission ("SEC"). The goal of our annual study is to understand different options that comprise each firm characteristic, and to determine whether specific characteristics impact the growth, size, or operational efficiency of an RIA firm. In this blog post, we will explore our survey results in response to portfolio management and reporting (“PMR”) systems used by RIA firms.

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the Securities and Exchange Commission ("SEC") Regulation Best Interest ("Reg BI") rule, a recent risk alert issued by the SEC for private fund advisers, and the use of virtual meetings.

On June 23, 2020, the Securities and Exchange Commission ("SEC") Office of Compliance Inspections and Examinations ("OCIE") released a new risk alert with information on examinations of registered investment advisers ("RIA") that manage private equity funds or hedge funds (collectively, “private fund advisers”). The risk alert identifies deficiencies identified by OCIE during examinations of "hundreds of private fund advisers each year." In particular, the SEC examination staff highlights private fund compliance issues that "may have caused investors in private funds to pay more in fees and expenses than they should have or resulted in investors not being informed of relevant conflicts of interest concerning the private fund adviser and the fund." The three primary areas of deficiencies noted in the risk alert include: 1) conflicts of interest, 2) fees and expenses, and 3) policies and procedures related to material non-public information ("MNPI").

This is a guest post from ProWriters Insurance. 

Cyber insurance offers an important service to registered investment adviser ("RIA") firms that often remains underrated. Should they suffer a cyber attack, many small-to-midsize businesses are at risk of devastating consequences without the proper cyber coverage in place. In a society that relies so heavily on technology, a cyber attack, or security breach has become all but unavoidable. Helping you find the best possible coverage is an important investment in your financial security. 

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuseson RIA in a Box's new Cybersecurity Insurance offer, Paycheck Protection Program ("PPP") loan disclosures, and a second state requiring Form CRS.

The findings in this blog post come from our annual survey of over 1,600 registered investment advisor ("RIA") firms that was conducted in the first quarter of 2020. This proprietary RIA in a Box study is paired with publicly accessible data provided by the Securities and Exchange Commission ("SEC"). The goal of our annual study is to understand different options that comprise each firm characteristic, and to determine whether specific characteristics impact the growth, size, or operational efficiency of an RIA firm. In this blog post, we will explore our survey results in response to financial planning software systems used by RIA firms.

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the rise of RIA firm registration during COVID-19, different industry perspectives on Paycheck Protection Program ("PPP") loans, and succession planning.

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on Paycheck Protection Program ("PPP") loans, the Securities and Exchange Commission's ("SEC") Regulation Best Interest ("Reg BI"), and a recent RIA in a Box partnership with Morningstar, Redtail, and Riskalyze.

We are excited to announce we've partnered with industry leaders Morningstar, Redtail Technology (Redtail), and Riskalyze to help advisors form new registered investment adviser (RIA) firms and work remotely and more efficiently in the wake of COVID-19. The Path to Independence Promotion will allow advisors that partner with RIA in a Box® to register a new RIA firm to use industry-leading cloud-based technology from the supporting firms, free of charge, based on their unique business needs through December 2020. 

As RIA compliance consultants, we regularly talk to thousands of current and prospective registered investment adviser ("RIA") firms about their business model, needs, and future business plans. Some of these conversations center around a growth plan to expand their business while others are focused on helping an advisor protect the practice they have built after years of hard work. Many times these conversations revolve around the compliance responsibilities an advisory firm will face based on the firm's size, business model, and the current states it conducts business in which it is registered or notice filed.