Compliance usually tops the list of concerns when advisors consider starting a RIA. Policies, procedures, risk assessments, attestations, disclosures, compliance calendars, regulatory filings and yes, regulators, can all seem to be insurmountable obstacles.
But there is an industry designed to support the transition to independence, and compliance help is available.
You do not need to know everything about construction to have an office, and you don’t need to know everything about regulation to be compliant. Outsourcing your compliance program development and maintenance can be a great way to get the skills and time you need to run your firm safely.
– Buddy Doyle, CEO, Oyster Consulting, LLC