Advisors Paying More for Compliance

October 25, 2017

Advisors Paying More for Compliance

October 9, 2017 | Diana Britton | WealthManagement.com

When President Trump was elected, some broker/dealers and advisors thought it would usher in an era favorable to financial services, with a pullback in regulatory reach and a return to a “friendlier” legal environment for small businesses.

“I think everybody said, ‘All this money that I’ve put into compliant systems and people and process, I’m going to be able to cut back on,’” says Alan Halfenger, partner and head of the global diversified financial practice at ACA Compliance Group. “Right off the bat that wasn’t true.”

While some regulations have been delayed or rolled back, the demands on compliance departments’ time and money haven’t slowed down, compliance officers say. Broker/dealers and advisory firms are investing more into ensuring they are complying with regulations including new rules and heightened disclosure and documentation requirements. 

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
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