Blog Article

FPPad Interview: How Technology can help RIA firms Manage Compliance

May 24, 2017

On May 23, 2017, Bill Winterberg of FPPad hosted RIA in a Box president, GJ King, to discuss the best technology resources for RIA firms.

Yesterday, Bill Winterberg of FPPad hosted our president, GJ King, for a live online interview to discuss how registered investment adviser (“RIA”) firms can utilize technology to comply with existing and new forthcoming regulatory requirements. Bill Winterberg is one of the leading RIA industry technology experts and he led a discussion covering timely RIA compliance topics ranging from the Department of Labor (“DOL”) Fiduciary Rule to the forthcoming Form ADV changes. In addition, the discussion includes details on how an RIA firm can utilize existing technology tools such as customer relationship management (“CRM) and portfolio management and reporting software to more efficiently and confidently meet RIA compliance requirements.

We encourage you to watch the replay of the interview on the FPPad Youtube channel:

 

Key takeaways from the live broadcast include:

  1. DOL Fiduciary Rule: With the latest DOL guidance indicating that the June 9, 2017 applicability date will stand, RIA firms need to be ready to comply with the Impartial Conduct Standards for relevant retirement account investment recommendations. Technology tools such as your firm’s CRM system can help with proper documentation. 
  2. New Form ADV Changes: Beginning on October 1, 2017, RIA firms will be required to utilize the updated Form ADV when filing an amendment. These new Form ADV requirements include disclosing the firm’s social media pages and more detailed information related to regulatory assets under management. Your firm’s portfolio management and reporting system will likely play a crucial role in helping to gather and organize this new information.
  3. RIA Compliance Software: Platforms like our MyRIACompliance® online compliance platform can be a key component of a firm’s integrated technology stack to help the firm better automate and document regulatory requirements. In addition, new technology integrations such as our system’s integration with Orion which has won the Fuse “Best in Show Award” in consecutive years can help ensure that firms are registered or notice filed in the proper jurisdictions and help automate Form ADV updates with new required information.

Integrated RIA compliance software

You also check out the FPPad Fuse 2016 video recap: