Smart RIA
Same SEC Document Production List

We are seeing quite an uptick in Advisors undergoing regulatory exams. Therefore, as a service to you we are providing the following information in regard to regulatory exams. The SEC’s Office of Compliance, Inspections and Examinations (OCIE) is responsible for administering exams. Generally, the initial notification of an exam will reference that the staff of […]

Smart RIA
Supervision of Investment Adviser Representatives

Registered Investment Advisers (RIAs) owe a duty to supervise persons associated with the firm with respect to activities performed on their behalf. In recent deficiencies letters, RIAs have been criticized for failing to adequately supervise their supervised persons, including, Investment Adviser Representatives (IARs). RIAs must implement written supervisory procedures to govern the conduct of supervised persons. […]

Smart RIA
RIAs Must Make Good on Fee Refunds and Fully Disclose Their Financial Condition

On July 20, 2018, the SEC announced the settlement of charges against a Beverly Hills-based Registered Investment Adviser (RIA) and its majority owner, because the firm improperly refused to refund unearned advisory fees to 63 clients who left the firm. The RIA also made material misstatements in written disclosures to clients regarding the firm’s financial […]

Smart RIA
Testimonial Rule and Social Media Intersect in Recent Enforcement Actions

On July 10, 2018, the SEC settled enforcement actions brought against two SEC-Registered Investment Advisers (RIAs), three Investment Adviser Representatives (IARs), and a marketing consultant, for their involvement in violating the Testimonial Rule using social media and the Internet. Rule 206(4)-1(a)(1) under the Investment Advisers Act sets forth what types of advertisements are prohibited. The […]

Smart RIA
SEC Publishes Most Frequent Best Execution Deficiencies Found by Examiners

On July 11, 2018, the Office of Compliance Inspections and Examinations (OCIE) released a risk alert dealing with the most frequent best execution deficiencies identified during investment adviser exams. The risk alert can help Registered Investment Advisers (RIAs) improve their best execution policies and procedures and avoid potential problems during their own examinations. The duty […]

Smart RIA
Frequent Advisory Fee and Expense Compliance Issues

On April 12, 2018, the Office of Compliance Inspections and Examinations (“OCIE”) issued a National Exam Program risk alert in which it outlined the most frequent advisory fee and expense compliance issues identified in deficiency letters sent to SEC-registered investment advisers. To read the full risk alert, click here. The six most frequent areas of concern […]

Roger Kiger
SmartRIA Featured on FA Magazine Blog

SmartRIA’s founder Roger Kiger was featured today in an interview on Financial Advisor Magazine’s blog. The interview explores how Mr. Kiger went from principal of a wealth management firm to a technology entrepreneur by creating RIA compliance software to manage his firm’s needs.

SmartRIA compliance solutions software
Welcome to SmartRIA

Friends and colleagues: Thank you for taking a moment to visit us at SmartRIA, Automated Compliance Software. We are the first, and currently, the only, truly automated compliance software available on the market. For the compliance portion of our software alone, SmartRIA is a huge time, stress, and money saver for our users. We know, […]