Initially, we can assist you with reviewing the paperwork required to file and approve in order to open your doors and do business as an RIA.

Once that piece is complete, the compliance support we offer and can provide includes working closely with you as you need our assistance or thoughts.

This support can include, for example, any and all of the following compliance—related topics:

E&O recommendations (basic overview and general coverage questions)
RIA document review (ADV, client agreement, etc.)
Regulatory audit support
If applicable, coordination with your broker/dealer (re: understanding FPS and setting up compliance oversight)
Assistance with drafting client correspondence (situation specific)

Remember, what makes us unique is that we support you, the advisor.

Unlike a broker/dealer, FocusPoint does not have oversight—you keep discretion over your client accounts. We are here to help you do what you feel is best for your clients. We'll never dictate how you run your business, but we will certainly provide you with our strong recommendations and expertise based on our experience with any issues or questions you might experience.

>> Your New Virtual Office

“I remember vividly realizing I needed to make a change when I had a new client who had transferred over from a friend of mine. The prior advisor hadn’t had his eye on the business in the last year or so he was a broker. My new client owned some extremely poorly rated bond funds by that point—no matter which rating system you use—and I wanted to switch those out for a couple other much more reputable funds. When everything was said and done, I received an email from my IBD’s compliance department wondering how on earth I could have justified transferring from one bond fund to another. Rather than sending something back with some basic reasoning, I put together a 5-page email. In it I explained thoroughly my planning and review process, that if you took any time to look at things you would see the justification.

Don’t get me wrong—it wasn’t the compliance department at my IBD—it was the compliance environment everywhere. In my view, everything someone did to generate a commission, unless it was coming from cash, was questioned.”

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