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FAQ

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How do you customize your services for my business model?

We start by reviewing your registration documents (Form ADV Parts 1 and 2 for advisers or Form BD for broker-dealers) to gain an understanding of your existing business, and we'll have conversations with you about your business philosophy, client base, and investment strategies. Then we review your written policies and procedures to ensure that they appropriately address your business risks as well as your operational procedures. We'll help you determine what your compliance needs are and how best to meet those needs.

I want to start an advisory business. Where do I begin?

We can help you create your compliance program from the ground up, starting with the preparation of your Form ADV Parts 1 and 2 registration documents, and creation of comprehensive written policies and procedures. We can walk you through the registration process with state or SEC regulators, and coach you on how to manage your compliance program.

Can you help me register as a broker-dealer?

Sure, we can help you file your Form BD, the Form U4s for your registered reps, and other related documents, as well as walk you through the registration process. We can also help you set up your written supervisory procedures.

Will you be my outsourced CCO?

It depends. Being an outsourced CCO is a unique relationship. Regulators do not look favorably on situations where someone is acting as CCO in name only, without being knowledgeable of the firm's business operations. To act as CCO, we need to maintain a high level of communications with the firm on a regular basis, and a commitment from the firm to keep us informed on business operations. This arrangement obviously requires considerable dedication on both your part and our part. If you are interested in this arrangement, we'll need to have some in-depth conversations on how to make the relationship work.

I have a compliance program in place, but I'm not sure if it's right.

We can examine your existing policies and procedures to determine if there are any gaps or deficiencies that need to be addressed. We'll also look at your registration documents and disclosure documents to make sure that the language is consistent with your client agreements, your written policies, and your actual business practices.

Can you provide me with some templates?

Sure, we have templates and forms. But these documents just serve as a starting point. It is critical that any template is customized to fit your business model.  We are happy to provide you with some sample documents to get you started, and we are also here to help you make sure that the final document is accurate, relevant, and appropriate for your business. Regulators frown on just slapping your business name on a template and not making sure it is accurate, relevant, and appropriate for your business.

Cybersecurity keeps me up at night. How can you help?

It keeps us up at night too. While we are not tech experts, we can collaborate with IT vendors to create a cybersecurity policy that covers both the technical aspects to protect your network, as well as the written policies and procedures that regulators expect you to have in place. If you don't currently have an IT vendor, we can connect you with one who can help.

How can you help me keep up with deadlines?

We maintain a compliance calendar and will email you notifications of upcoming tasks and deadlines. If you need assistance with completing the task by the deadline, just let us know.

I can't keep up with regulatory changes. Can you help?

Yes, of course! We stay abreast of regulatory changes in the industry and will provide updates as necessary. We regularly attend continuing education events and keep an eye on relevant industry newsletters, alerts, and updates. Subscribe to our blog so you can be the first to receive any updates we publish.

I keep hearing about Business Succession Planning, but I'm a single-person office. What do I do?

Business succession planning is definitely a hot topic with regulators. At a minimum, advisers are expected to have a written plan in place that outlines who will communicate with clients, service providers, and regulators in the event of the adviser's incapacitation or death, and provide instructions on how clients can obtain access to their accounts. There are a variety of ways this can be addressed. We can help you outline a plan and put it in writing.

What is your fee structure?

We typically charge an hourly fee for our services, billed monthly in arrears. You'll receive a detailed invoice showing the dates, descriptions, and time spent on our services. Normally, we don't charge a monthly retainer, as we recognize that your needs will fluctuate month to month. Routine services such as deadline reminders and newsletter updates are free of charge.

How do I know that Adroit Compliance is the right consultant for me?

We want to make sure the relationship is as good a fit for you as it is for us. The best way to find out is to schedule a free introductory call to discuss how we might work together. Click here to schedule time on our calendar. Don't worry, we're not pushy sales people. We'll just talk about what you need, and whether we can provide services to meet your needs.