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What You'll Learn In Today's Episode:

  • Starting Small and Organized: Developing an organizational foundation, maintaining well-organized records, and utilizing appropriate technology helps prevent compliance challenges and regulatory issues.
  • Documentation is Essential: Documentation plays a pivotal role in compliance. Advisors must not only perform their activities but also ensure robust documentation to support their actions.
  • Proactive Approach to Compliance: Addressing compliance early in the business process, ideally during the formulation of a concrete business plan and team-building, is key. Early involvement of compliance professionals and attorneys can prevent mistakes from snowballing into more complex issues down the line.
  • Collaboration and Transparency: Engaging compliance professionals early, involving them in decisions, and maintaining transparency throughout the process fosters dynamic responses, effective solutions, and better outcomes in regulatory matters.
  • Managing Compliance Fear: The notion that compliance may seem daunting, but it’s manageable, reveals that a strategic and methodical approach can demystify complex regulatory requirements and mitigate apprehensions.

Matt is joined by Chris Stanley from Beach Street Legal, a specialized law firm and compliance consultancy exclusively dedicated to Registered Investment Advisers (RIAs). Chris will share how their focused expertise enhances compliance efforts and why starting with a structured and organized approach is crucial. He’ll discuss the power of meticulous documentation, the benefits of a proactive compliance strategy, and the collaborative magic of transparency. Delve into the world of compliance fears and how they can be tamed through a methodical approach. Join Matt and Chris as they talk through the secrets of effective compliance management, highlighting the importance of timely attorney involvement and the notion that no question is too small.

 

Resources In Today's Episode:

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