The WSR Wealth Exemplar Awards Compliance Solutions Provider of the Year goes to the top three firms providing compliance and regulatory solutions for firms that operate within the non-institutional wealth management space.
New York-based COMPLY is the unified brand for the wealthtech companies ComplySci, RIA in a Box and National Regulatory Service (NRS). Together their more than 350 employees support over 7,000 clients, including private equity firms, hedge funds, broker-dealers and RIAs.
ComplySci, which was founded in 2003, provides a range of employee compliance, compliance program management and data services. RIA in a Box’s services include RIA registration and cybersecurity, IAR continuing education, employee trade monitoring, and communications archiving and review. NRS is a consulting and continuing education solution for compliance professionals.
Last year, COMPLY released its 2023 Chief Compliance Officer Playbook and its 2023 Regulation Rundown reports, which collectively covered rules and enforcement action by the SEC and FINRA. In May, COMPLY announced the appointment of its new Chief Marketing Officer, Gayle Nixon, who has more than 20 years of experience in the technology space.
In November, it launched the COMPLY Program Management and Annual Review, which automates tasks and creates SEC-compliant reports. The same month, the company announced its second annual COMPLYConnect Awards for financial industry professionals.
Englewood, New Jersey-based MarketCounsel Consulting serves as a business and regulatory compliance consultancy to independent investment advisory firms throughout all stages of their lifecycles, from the initial launch to the regulatory compliance management platform, and from business growth to succession strategies.
Early stage services include business and legal counsel surrounding entity structure, organization and governance. Membership in compliance management programs for established firms includes advertising compliance and regulatory exam support. MarketCounsel, which was founded in 2000, also provides custom consulting services for financial institutions.
The company traditionally hosts its annual invitation-only MarketCounsel Summit in December, in Las Vegas. The summit provides insights that are designed for attendees to understand critical developments affecting RIAs, evaluate growth opportunities, distinguish potential upcoming industry hazards, hear controversial perspectives on key business issues and network among wealth management leaders.
At last year’s summit, Joel Bruckenstein, President of Technology Tools for Today, moderated a discussion titled “Driving ROI in Tech: Integrating Generative AI and Expert Systems” with Craig Iskowitz, CEO of Ezra Group; Oleg Tishkevich, CEO of Invent; and Brian McLaughlin, President of Orion Advisor Tech.
Portland, Oregon-based Smarsh is a digital communications compliance and intelligence provider for organizations including banks, RIAs and broker-dealers. Its portfolio of cloud-native digital communications capture, retention and oversight solutions are designed to help firms identify and mitigate regulatory and reputational risks within their communications data.
Founded in 2001, Smarsh serves more than 6,500 customers and manages over 3 billion messages daily across more than 100 communications channels. Gartner named Smarsh as a Leader in the Enterprise Information Archiving space for seven consecutive years. Since 2008, Smarsh has been named on the Inc. 5000 list of fastest growing companies in America.
Last year, Smarsh announced the appointment of Sheldon Cummings as General Manager of its Corporate business unit, and the appointment of Vinay Mehta as Chief Technology Officer. Cummings has more than 25 years of experience serving small and midsized firms. Mehta has more than 20 years of technology experience.
In March 2023, Smarsh announced a series of enhancements to its Professional Archive dashboards that are intended to make compliance oversight easier, faster and more intuitive for RIAs and broker-dealers. In January 2024, Smarsh announced the enhancement of Enterprise Conduct, its AI-powered communications surveillance solution, with a catalog of new and updated risk detection scenarios.
Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at email@example.com