RIA In a Box says that the service includes a live phone session with an ex-state regulator/auditor to address compliance questions and to brief the RIA on what to expect during the audit. In addition, RIA In A Box will sample client files and review the firm’s compliance officer training, ADVs, a sampling of company agreements, policies manual, and company advertising to check that all is in order and to highlight areas that could be improved.
“This service will give RIAs facing an audit some security and assurance so they can be ready for what is coming,” said Zachary Gronich, CEO, RIA In A Box. “Audits can be very stressful and though an RIA may have everything in order, when that call comes in announcing an audit, everyone gets nervous. This last-minute prep service will help give you answers to the questions that might otherwise keep you up all night worrying.”
All RIAs are subject to audits, whether registered to the state or SEC, however the amount of notice provided prior to the audit depends on the state. “Some jurisdictions actually give no notice,” said Gronich.
For more information visit www.riainabox.com/on-going-compliance.