SEC and FINRA Compliance: The Essential Guide to Compliant Digital Onboarding
For broker-dealers and RIA member firms in the securities industry, navigating compliance with electronic books and records rules and federal securities laws requires meticulous attention to detail – a point starkly illustrated by the SEC’s September 2024 enforcement actions resulting in over $88 million in penalties against 12 firms for recordkeeping failures. Under Securities Exchange […]
Digital Onboarding in Wealth Management: Meeting FINRA & SEC Requirements
Running a wealth management firm today means balancing growth with compliance. As M&A activity continues and advisor transitions accelerate, your digital onboarding systems must maintain compliance with FINRA Books and Records Retention Requirements and federal securities laws while enabling efficient practice scaling. Core Regulatory Requirements Broker-dealers are subject to FINRA Rule 4511, which governs books […]
How to Find the Best Financial Advisor Transition Software to Win More Advisors
Financial advisor transition software has become a critical tool for registered investment advisor (RIA) firms looking to attract, onboard, and retain top talent. As M&A activity and advisor movement continue to increase, firms are competing not only on compensation and culture, but also on the technology and support they provide throughout the transition process. Today’s […]
What to Look For in the Digital Onboarding Process in Wealth Management
Transferring accounts in the client onboarding process between financial institutions can be a cumbersome process, especially when relying on manual documentation. A digital onboarding process can streamline this experience, reducing errors in data collection, identity verification, and regulatory compliance. Here’s how to provide new clients with an optimal experience during the account opening process. The […]
Financial Advisor Transitions
Financial advisors are transitioning between firms more frequently as mergers and acquisitions (M&A) activity has been hot over the past few years. And given the average age of financial advisors is around 60, ownership of many practices will be changing in several years as advisors retire and complete their succession planning. There are a lot […]
