Are RIA Compliance Consultants Worth the Cost

Are RIA Compliance Consultants Worth the Cost

“Time is money”

It’s a common saying, and anyone who doesn’t believe it probably hasn’t tried to run a business. Whether you’re a professional investment advisor or the principal of an RIA firm, your time and your employees’ time can earn or cost you money, and it’s vital for you to find the balance between the two if you want to be successful.

That’s where RIA compliance consultants come in. Keeping up with and staying in compliance with SEC and state regulations for RIAs is a complicated, ongoing task that can chew into that ever-valuable resource: time. Yes, consultants cost money, but if hiring a consultant allows you to spend more time finding and retaining good clients, it is money well spent.

Why Hire RIA Compliance Consultants?

Take a look at your CCO. If you’re not serving in the position yourself, your CCO is likely juggling several roles at the firm. In addition, they may also have their own client list. Are they accruing overtime trying to keep up? Or are they in danger of burnout, leaving you searching for another person to fill that important role?

RIA compliance consultants can save you money by keeping you audit-ready and preventing deficiencies that may trigger audits. Hiring an attorney to represent you and your firm in the event of an audit is a big expense. Having your compliance in order can cut down on hourly attorney fees and further legal stress.

Streamline Your Compliance Workload

At SmartRIA, we’re not just another consulting firm. We’ve pooled our combined compliance experience to create a simple, turnkey RIA compliance software solution that will save you time, money, and peace of mind. SmartRIA automatically alerts you to missing documents or deficiencies, integrates secure document storage, and makes client onboarding a breeze. Combining powerful software with help from knowledgeable RIA compliance consultants is an excellent way to keep your firm on track and ensure a culture of compliance.

If you’re not sure it’s worth it for your firm, just remember—time is money.

Time is Money


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