Managing Compliance for Independent Advisors

It is not the strongest or the most intelligent who will survive but those who can best manage change.

–Charles Darwin

With heightened regulations and increased scrutiny of the financial services industry, compliance supervision and risk management is a mandatory component of running your own independent financial advisory practice today. But it is an everchanging landscape. Both the SEC and FINRA have their sights on financial advisors for a variety of practices that may not cross your mind. They are looking at everything from documentation of client interactions, processes around specific products, the methodology you are using for choosing asset managers and how frequently, or infrequently, you are taking action in your clients’ accounts.

Compliance for Independent Financial Advisors

PAG’s Dedicated Financial Advisor Compliance Team

Our extensive team of compliance staff members are experienced, efficient and friendly — making this the greatest, and most important, outsourced resource for your firm. They are up to date with all the regulation and compliance updates and have regular training on any new guidance that is released from the regulators. In addition, this team’s longevity with the firm ensures they know the processes, procedures, platform, and the products to assist you in every aspect of your business. The confidence they instill in our advisors allows advisors to focus on other areas of their business. In fact, our advisors told us that by joining Private Advisor Group, they were able to dedicate an additional 10–20 hours a week on average to either servicing their clients or prospecting for new ones.

In addition, our compliance team is available for consultation on a variety of topics from product education to questions around accuracy of process and regulations. With the ever-changing environment today, it is assuring to know they are on your side.