The RIA Compliance Lifehack

Depending on your business location, the average salary for a small RIA firm’s Chief Compliance Officer (CCO) is likely around $120,000 annually. But that doesn’t include:

  • health Insurance
  • state taxes
  • federal taxes
  • social security taxes
  • Medicare
  • unemployment taxes
  • workman’s compensation
  • reasonable work location
  • appropriate computer equipment
  • Internet or phones

In addition to the base salary and bonus structure that top candidates demand, these ancillary expenses can push the overall cost of a CCO to $150,000 or more.

That’s why many high-performing small RIAs are beginning to embrace the outsourced CCO model.

AdvisorLaw’s RIA division oversees the compliance needs for over $30 billion of AUM for RIA clients around the nation. We offer a flat monthly fee to obtain the expert compliance oversight you need from our outsourced CCO, while also affording your business the ability to take a tax deduction for the professional services.

This month only, we’re waiving the setup cost of our Nexus Compliance Platform to new clients who sign up for our ongoing compliance services. 

Our comprehensive compliance package allows for constant monitoring of trades and holdings to help RIAs meet all of their regulatory obligations. RIAs that sign up for our ongoing compliance services will have access to our Nexus Compliance platform, free of charge — a $500.00 value! 

Our Nexus package is comprehensive and offers the following complimentary services to RIAs: 

  • annual ADV reporting AUM (reporting function, pulls custodial numbers)
  • 13f reporting
  • trade reviews of 40+ potential concerns, including best execution
  • registrations and licensing
  • annual renewals (IARD)
  • audit-ready archiving and reporting
  • forms library and archives
  • books and records retention (SEC 17a-3 17a-4 compatibility) 
  • account-level reviews (account performance vs. investment objective)
  • management of OBAs, archiving of approvals (workflow)
  • IAR outside brokerage accounts (held away/data feeds)
  • marketing reviews (workflow)
  • annual certifications (policies and procedures manual, COE, etc.)
  • custody reviews
  • billing system
  • If you use fee billing, you will be able to automatically create a 1099 for each IAR at tax time.
  • email archiving 
  • trading portal

Call us today to discuss your particular needs and receive a customized quote that details how much you could save annually using our outsourced CCO service versus hiring a full-time CCO in-house.

Blog Contact