RegVerse boosts compliance support for RIAs with Avery platform update

RegVerse boosts compliance support for RIAs with Avery platform update
The AI-powered regtech by Surge Ventures is raising its game with a new suite of efficiency-boosting workflow tools.
AUG 28, 2024

Surge Ventures, the wealth and financial services-focused tech investment firm, announced that its inaugural venture has boosted its capacity to address firms’ compliance challenges.

Surge Ventures revealed RegVerse, an AI-driven regtech solution, has expanded its Avery platform with Fusion1, a new suite of workflow tools designed to enhance compliance and surveillance capabilities for RIAs and broker-dealers.

The Fusion1 suite, now integrated into the Avery platform, offers wealth management firms a range of AI-enabled tools aimed at streamlining compliance processes.

According to Sid Yenamandra, co-founder of Surge Ventures, Fusion1 simplifies the compliance process for firms in heavily regulated industries by “[providing] the perfect blend of technology and human insight.

"Precision matters in compliance," Yenamandra, who’s also the CEO of RegVerse, said in a statement. "Automation is the new standard for compliance excellence, but the technology behind it must be combined with the power of AI and hands-on expert guidance."

Among several key features, RegVerse said the Fusion1 suite lets users conduct automated audits, which can save time and ensure accuracy. The platform also simplifies the attestation process with real-time insights into compliance status and features an upload functionality to streamline data and file management.

Meanwhile, the suite’s code of ethics functionality also allows firms to report on various activities, including personal trading, gifts and entertainment, political contributions, and outside business activities.

Surge Ventures, which is based in Menlo Park, California, launched RegVerse in November last year, promising a transformative experience in regulatory compliance.

Earlier this year in April, Surge Ventures expanded its portfolio with a deal to acquire Kovair Software, a tech platform provider that specializes in complex data integrations.

“[W]e aim to tackle the problem of data management in the wealth management industry and to offer products that dramatically improve operational efficiency, data flow, and security across software applications, for wealth management firms,” Yenamandra said in a statement at the time.

Latest News

Northern Trust names new West Region president for wealth
Northern Trust names new West Region president for wealth

The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.

Capital Group extends retirement plan services further with a focus on advisors
Capital Group extends retirement plan services further with a focus on advisors

The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.

Why RIAs are the next growth frontier for annuities
Why RIAs are the next growth frontier for annuities

David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.

Supreme Court slaps down challenge to IRS summons for Coinbase user data
Supreme Court slaps down challenge to IRS summons for Coinbase user data

Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."

Houston-based RIA Americana Partners adds $1B+ with former Morgan Stanley director
Houston-based RIA Americana Partners adds $1B+ with former Morgan Stanley director

Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.