The newest generation of AdvisorAssist’s proprietary compliance technology
October 03, 2019 — MARSHFIELD, Mass.–(BUSINESS WIRE)–AdvisorAssist, LLC, the industry leading regulatory compliance and business risk management consulting firm, announces the rollout of AdvisorCloud 360TM, delivering a next-generation compliance intelligence engine.
AdvisorCloud 360TM is the evolution of AdvisorAssist’s proprietary compliance engine, AdvisorCloudTM, which supports over 500 advisory firms and over 3,000 supervised persons in meeting their annual compliance obligations.
AdvisorCloud 360TM is the solution to empower Advisors and their Chief Compliance Officers to navigate the increasingly complex regulatory requirements with full transparency into all aspects of their compliance program. AdvisorCloud 360TM provides a collaborative and transparent working environment for Advisors to have direct access to AdvisorAssist’s internal compliance engine for compliance management and testing.
A New Watermark For Outsourced Compliance Services
“AdvisorCloud 360TM sets a new high-water mark for outsourced compliance services,” says Chris Winn, CEO of AdvisorAssist, LLC. “AdvisorCloud 360TM provides our network of advisors with full transparency into all risk management areas of their firm and the work being performed on their behalf. We believe this level of engagement and alignment is critical to staying ahead of the regulatory curve.”
One of the major enhancements in AdvisorCloud 360TM is “CRAFT,” a robust topic-based Compliance task, Risk Assessment and Forensic Testing program. AdvisorAssist designed the CRAFT program to give Chief Compliance Officers the ability to create and manage the internal review, analysis, forensic testing, reporting and remediation action items required under the Investment Advisers Act of 1940 and comparable State Regulations.
“With the dawn of Regulation Best Interest and Form CRS, as well as the various State generated best interest regulations, conflict detection and mitigation will require an enhanced approach to compliance and risk management for advisory firms,” says Conor Anderson, Partner, Head of Advisor Services. “SEC and State registered advisors will have to have a comprehensive solution to guide them through a conflict mitigation program along with their “Year in Compliance”.”
Advisors require more and better tools to address the challenges in navigating an increasingly sophisticated regulatory compliance environment. AdvisorCloud 360TM along with the CRAFT solution, deploys a series of actionable features designed to identify and remediate conflicts and procedural gaps to remain compliant with the ever-changing regulatory priorities.
“Having a world-class compliance program is important for Advisors to both protect and grow their businesses. We are thrilled that our partners at AdvisorAssist are continuing to put their clients’ needs first and developing tools meant to address some of Advisors’ toughest challenges.” Marc Spilker, Member, Advisory Board.
In addition to CRAFT, some of the other AdvisorCloud 360TM features include:
- Interactive Compliance Calendar
- Supervised Persons Certification Engine
- Remote Office Supervision Tool
- SEC and State Audit Preparation Tool
- Investment and Vendor Due Diligence Interface
- Supervised Person Analytics
About AdvisorAssist, LLC:
AdvisorAssist, the leader in driving advisor independence, provides comprehensive compliance and risk management solutions to ensure the success of entrepreneurial advisory firms. AdvisorAssist provides strategic formation, regulatory risk management, compliance, and related services. As a collaborative and strategic advisor to RIAs, the AdvisorAssist mission is to provide solution-based services centered around experienced consultants and scalable technology to help RIAs “build, grow, optimize and protect” their advisory firms. Founded in 2006, AdvisorAssist now services over 500 registered investment advisors with personnel of over 3,000 and assets under management approaching $100 billion.