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Registered Investment Adviser (RIA) Compliance Consultants
At Summit Compliance Group, our RIA Compliance Consultants cater to both newly registered and seasoned RIAs. Hold multiple licenses and registrations? No problem. We coordinate our services to help you seamlessly navigate the Insurance, Securities and Investment Advisory businesses. Our broad experience working with RIAs, broker/dealers and independent insurance producers for decades means that you get expert service, tailored to the unique needs of your business model. Hear what others have to say…
Forget the cookie-cutter approach of big box firms, confusing forms and templates that don't make sense for your business, and an “everything costs extra” approach. Our services address your distinctive needs and we offer software to manage your monthly, quarterly, and annual compliance requirements. Best of all? Our pricing is all-inclusive so you aren’t surprised by extra fees & add-ons. Contact Us to learn more.
+ Establish a New RIA
WHAT ARE THE BENEFITS TO STARTING AN RIA?
Starting an RIA can add many benefits to your business including a reliable revenue stream from assets under management fees, the ability to legally provide investment advice, and attracting new clients due to expanded service offerings.
WHAT STEPS ARE INVOLVED IN STARTING AN RIA?
There are several steps required to start an RIA including:
- Start a business (e.g., an LLC)
- Determine if you will be an SEC-registered firm or a state-registered firm
- Partner with a custodian
- Partner with the TAMPs you will utilize (if any)
- Determine your technology solution needs
- Pass the investment adviser examination (Series 65)
- File with the SEC or state(s) to register your RIA
WHAT IS NEEDED TO FILE WITH THE SEC OR STATE(S) TO REGISTER AN RIA?
In addition to the application:
- A customized Written Policies and Procedures Manual for your firm
- A customized Business Continuity Plan for your firm
- A customized Privacy Policy Plan for your firm
- A customized Code of Ethics for your firm
- A customized Investment Advisory Agreement for your firm
- A customized Firm Brochure, or Form ADV Part 2A disclosure document for Company’s new firm, to be provided to all clients
- A customized Brochure Supplement, or Form ADV Part 2B disclosure document for each required Investment Adviser Representative (“IAR”), to be provided to all clients
- Prepare Entitlement forms for the IARD/CRD systems
- Prepare the Form ADV – Part 1
- Form U4 Filing for each Investment Adviser Representative
- Communication with the regulators regarding the status of the application
- Draft responses to regulatory inquiries
- Answers to compliance-related questions during the registration process
HOW CAN SUMMIT COMPLIANCE GROUP HELP?
This may seem overwhelming, but you don’t have to do this alone. We can handle it for you!
Summit Compliance Group, LLC has consultants with decades of experience in registering new RIAs. We manage all of the registration requirements for you for a very reasonable flat fee.
+ Outsourced Compliance Support
CAN I OUTSOURCE MY ONGOING COMPLIANCE TASKS?
Yes. Summit Compliance Group can perform your firm's compliance tasks on behalf of your CCO. This is a cost-effective method of gaining professional compliance assistance while freeing up resources within your firm.
WHAT TASKS CAN I OUTSOURCE?
Summit Compliance Group can provide ongoing compliance support for both state and SEC-registered firms in a number of areas, including:
- Draft and maintain all compliance documents for the firm (Compliance Manual, Code of Ethics, Business Continuity Plan, Cybersecurity Manual, Privacy Policy, etc.)
- Execute Annual ADV and Privacy Policy Delivery
- Conduct Annual Risk Assessment and Annual Compliance Review
- Conduct initial and ongoing Third-Party Vendor due diligence
- Conduct initial review/due diligence of prospective IARs and employees before on-boarding
- Provide ongoing supervision of IARs and employees
- Email Supervision
- Monitor Access Persons’ personal securities transactions
- Draft and implement any required questionnaires for supervised persons and IARs
- Collect initial holdings reports from newly onboarded access persons
- Draft, maintain, update and file Form ADV Part 1, 2 and 3, and firm advisory contracts
- Review marketing / advertising materials for RIA advertising regulations
- Monitor social media activity
- Execute review of firm performance reporting practices
- Review of referral and solicitor arrangements (if applicable)
- Trade Review and implementation of best practices
- Maintenance of firm books and records
- Conduct Annual Compliance Meeting
- Conduct annual testing of firm internal systems, policies and procedures
- Document quarterly meetings with Chief Compliance Officer
- Regulatory Exam Prep and Execution
Stop struggling to find time to perform these critical tasks. Summit Compliance Group has consultants with decades of experience in managing ongoing compliance requirements. Contact us today to learn more about our very reasonable flat fees.