Filing compliance solutions help RIAs manage and automate regulatory tasks. From ADV filings and compliance calendars to document storage and audit preparation, these platforms ensure that firms meet SEC and other state regulations.
But with the wide range of tools available, picking the one that best suits your business can be tough. To help you with this task, we’ll list our picks for the top RIA filing compliance software in this guide. We’ll walk you through the different features and capabilities, so you can decide which platform fits your needs.
Fulfilling filing obligations allows your RIA to build trust with clients and avoid potential legal and financial issues. The key is choosing the right filing compliance solution.
The tools below boast features and functions that enable your firm to streamline filing and related compliance tasks. This guide, however, will provide only a general overview of each platform. For complete details of each tool’s capabilities, you can visit their website. These are our picks arranged alphabetically.
AdvisorCloud360 from AdvisorAssist is a secure, cloud-based platform designed to assist RIAs with their compliance management program. The software acts as a central hub for various compliance-related tasks. It also serves as a knowledge base and training tool for CCOs and supervised persons.
Automation: streamlines the process of keeping ADV filings, notice filings, and other compliance documents accurate and up to date
Compliance calendar/reminders: provides access to an online calendar to map out a year in compliance, including regulatory deadlines and compliance testing
Document management: central hub facilitates timely and accurate filing of key regulatory documents such as Form ADV, Form CRS, and Section 13 filings
Data security: uses SSL encryption to ensure secure transmission of sensitive information
Integrations: not listed
Ease of use: user-friendly interface
Cost: pricing available on request
ComplianceExpress is a cloud-based compliance management platform designed for investment managers and financial advisors. It was developed by InvestorCOM to help firms deliver disclosures, manage records, and simplify compliance reporting.
Automation: automates the delivery of various client documents, including Form CRS, Form ADV, and other compliance and marketing materials; RIAs can track document delivery
Compliance calendar/reminders: allows firms to view upcoming events and deadlines, track compliance history, and download documents
Document management: advisors can keep records of all client communications and disclosure events to help with audit trails and regulatory requirements; the platform also allows real-time reporting for disclosure events
Data security: uses data encryption, strong access control, and a secure cloud storage to safeguard client data
Integrations: Microsoft Dynamics 365, Redtail, Salesforce (CRM); other InvestorCOM products like ShelfMonitor (for monitoring investment products) and PeerCompare (for comparing investment recommendations)
Ease of use: user-friendly interface; provider offers training and support to maximize the platform’s value
Cost: custom pricing; free demo
Docupace is a cloud-based platform designed to automate back-office tasks for investment and wealth management firms, including RIAs. The software provides tools for document management, client onboarding, and regulatory reporting. These features help firms maintain compliance with SEC and FINRA regulations.
Automation: automates filing compliance tasks, including Form CRS delivery
Compliance calendar/reminders: provides real-time alerts for compliance-related issues such as missing information and impending deadlines; users can also create customized compliance rules and automate alerts based on specific needs
Document management: offers a secure platform for storing and managing client documents, including those containing non-public personal information (NPI) in compliance with SEC Rule 17a-3 and 17a-4; creates audit-ready reports
Data security: uses government-grade data encryption and granular access controls in compliance with regulatory requirements
Integrations: Salesforce, Redtail, Wealthbox (CRM), Envestnet (custodian); PreciseFP (financial planning; Wealthscape (account management); InvestorCOM, MyRIACompliance (compliance); DocuSign, SIGNiX (e-signature)
Ease of use: intuitive interface; customizable dashboards
Cost: custom pricing; free demo
Envestnet has partnered with regtech firm Compliance Solutions Strategies (CSS) to offer Form CRS Automator. The web-based app serves as a filing compliance solution for RIAs and broker-dealers.
Automation: extracts data automatically from existing regulatory filings, including Form ADV Part 1A and FINRA filings, to populate the required fields in Form CRS
Compliance calendar/reminders: does not have compliance calendar function but notifies users of successful Form CRS delivery to retail investors
Document management: integrates with Envestnet’s Tamarac platform to provide a cloud-based hub to store and manage records; advisors can access information easily during audits; users can also export documents to Microsoft Word
Data security: data encryption and compliance with data security best practices are enabled through Envestnet’s Yodlee platform
Integrations: AdvisorEngine (CRM); Tamarac (portfolio management); Yodlee (data security); Microsoft Office 365 and Outlook (productivity)
Ease of use: web-based application, meaning it does not require software installation
Cost: not disclosed (likely customizable); free demo and trial
An effective filing compliance solution is an important part of a strong RIA tech stack. Get tips and strategies on how to build one in this guide.
Hadrius is an AI-powered platform designed for automating and streamlining compliance processes for financial and wealth management firms. It focuses on SEC and FINRA regulations, offering solutions for communication archiving, trade monitoring, and marketing review.
Automation: automates tasks related to SEC and FINRA compliance, including regulatory filings
Compliance calendar/reminders: provides a central hub for compliance-related tasks and deadlines
Document management: captures and archives electronic communications for compliance and e-discovery purposes
Data security: uses a range of measures to protect client data, including encryption, granular access controls, and secure authentication mechanisms
Integrations: not listed
Ease of use: modern and user-friendly interface
Cost: pricing and demo available on request
MyRIACompliance is one of the platforms under RIA in a Box’s offerings. The tool is designed to help SEC- and state-registered RIAs manage and automate regulatory tasks, including filing compliance. It is also among the most popular solutions that firms use to keep abreast of regulatory changes.
Automation: automates Form ADV renewal; streamlines the filing process for annual amendments and other required filings through the IARD system
Compliance calendar/reminders: provides interactive and customizable compliance calendars and checklists; alerts firms about regulatory changes
Document management: allows firms to store, manage, and share client documents through integration with Docupace
Data security: Docupace also provides secure data storage
Integrations: Black Diamond, Orion, Salesforce, Advyzon, Wealthbox (CRM); Docupace (document management); Morningstar Office Cloud (client data); SEI Wealth Platform (registration and compliance)
Ease of use: modern and simple user interface; platform revamped for smoother navigation and faster loading times
Cost: custom pricing; free demo and trial
Orion Compliance is Orion Advisor Solutions’ compliance management platform designed for financial firms. The tool provides a centralized hub for tracking and reporting compliance activities. One of its key functions is filing compliance.
Automation: pulls data directly from Orion to populate Form ADV filings; automates registration and notice filings through integration with MyRIACompliance; also has tools and functions to assist with 13F reporting
Compliance calendar/reminders: users can access a calendar with key dates, including annual ADV updates and quarterly compliance meetings; lets firms assign tasks to team members and set reminders to ensure deadlines are met
Document management: provides a secure storage for compliance-related documents and communication, creating an audit trail for regulatory examinations.
Data security: has tools to help protect client data, including VPNs, password protection, and device security
Integrations: BlackRock's Advisor Center (CRM); MyRIACompliance, BasisCode (compliance); Betterment Advisor Solutions (custodial data); AdvisoryWorld (account management); Kwanti (data analytics); CardConnect (billing)
Ease of use: customizable dashboard
Cost: custom pricing; free demo and trial
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RIA Compliance Control Center serves as a platform for firms to streamline compliance tasks. It includes a filing compliance solution that enables RIAs to manage and monitor regulatory filings. The tool was developed by compliance education and training services provider RegEd.
Automation: automates drafting and filing of Form ADV updates and amendments, and creation of Form CRS
Compliance calendar/reminders: customizable calendar allows advisors to track ongoing, past due, and completed compliance tasks
Document management: provides a single hub for storing compliance-related documents, including policies, procedures, and client communications
Data security: implements data encryption and DLP measures; RIAs can control who can access specific documents to ensure sensitive information is protected
Integrations: Salesforce, Black Diamond (CRM)
Ease of use: user-friendly interface with advanced indexing and search capabilities
Cost: custom pricing; free demo
Also known as RIA CompTech, the platform is designed to enable firms to automate and manage regulatory compliance tasks. The tool suits RIAs of all sizes, as well as broker-dealers and compliance consulting firms.
Automation: helps firms streamline Form ADV filing through a tool called simple ADV solution; automates other compliance tasks including filing reminders, disclosure reviews, and policy updates
Compliance calendar/reminders: schedules tasks based on frequency and due dates and sends email reminders to relevant personnel to ensure the tasks are completed on time
Document management: provides a secure, cloud-based location for storing compliance-related documents; the system includes audit logs and tracking features
Data security: encrypted forms and secure storage are integrated into the system
Integration: Forms Logic (data entry)
Ease of use: users can customize compliance workflows to fit specific needs
Cost: custom pricing; free demo
Compliance is important when searching for a platform to add to your tech stack. If you’re looking for client management software, these FINRA-compliant tools can do the job.
Skematic offers a compliance management platform designed for RIAs, broker-dealers, and consultants. This includes a filing compliance solution that allows firms to keep up to date with regulatory requirements.
Automation: assists firms with managing and tracking regulatory forms such as Form ADV and Form D
Compliance calendar/reminders: offers a customizable calendar to suit different compliance needs
Document management: provides a centralized storage for archiving of compliance documents and communications and an exportable compliance log to help with audit preparation
Data security: encrypts client data and implements strict access control and DLP measures to prevent unauthorized access
Integrations: Salesforce, Black Diamond, Advyzon, Redtail, Wealthbox (CRM); Orion (registration and notice filings); MyRIACompliance, SEI (compliance); Docupace (document management); Nitrogen (risk management); ProWriters (insurance)
Ease of use: user-friendly interface and customizable features
Cost: $5,000 per year for Basic plan; $10,000 per year for Standard plan; $20,000 per year for Premium plan; free demo
Smartria provides a centralized platform for managing all aspects of compliance, including SEC, FINRA, and state regulations. It helps RIAs stay on top of regulatory filings, employee compliance, and fiduciary duties. The tool also streamlines processes to keep everything audit ready.
Automation: helps firms manage and track regulatory filings, including Form ADV, to ensure timely updates and amendments
Compliance calendar/reminders: customizable calendar to monitor deadlines; automated alerts for missing documents and other compliance issues
Document management: offers a secure cloud-based document storage for compliance-related materials; creates reports mapped to SEC frameworks, making it easier to reproduce data for audits
Data security: uses different measures, including multi-factor authentication, strong passwords, data encryption, and secure storage
Integrations: Black Diamond, Redtail, Salesforce, Wealthbox (CRM); Plaid (data transfer); LPL Financial (financial planning); Bridge (data and portfolio management)
Ease of use: user-friendly interface; responsive training and support staff
Cost: custom pricing; free demo
Looking for new tools to add to your RIA tech stack? Check out our special report on the latest technology and software for investment management professionals to find one.
When picking a filing compliance solution that fits your business’ needs, there are several factors you need to consider. Here’s a checklist:
☐ Regulatory filing support and automation: Form ADV, Form CRS, Form D, other compliance documents
☐ Tools and functions: compliance calendars, automatic notifications, document storage, compliance logs, recordkeeping and reporting
☐ Security features: data encryption, multi-factor authentication, access control, secure storage
☐ Integrations: open API for easy integration to internal and third-party applications
☐ User-friendly interface
☐ Onboarding and aftercare: responsive training and customer service staff
☐ Plan cost: offers the features your RIA needs and fits your budget
By carefully considering these factors, you can choose a filing compliance solution that helps you keep up with regulatory requirements.
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