Creativity, Community, and Compliance Smartria

Technology is no longer an option; it's a necessity. To remain competitive, entrepreneurs and financial advisors have to embrace innovation on all fronts, from streamlining operations to connecting with clients. However, despite the benefits of technology, a critical issue looms large - cybersecurity. How can compliance consultants, business owners, and financial advisors protect clients from cyber threats?
In this episode, Mac talks with Roger Kiger, Chief Manager of Visionary Horizons and Founder of Smartria. While Visionary Horizons is his primary responsibility, Roger has started several businesses in his career. He helps many clients and community members establish and grow their own businesses. A certified financial planner, Roger enjoys business planning and how it relates to clients' financial plans. 
A trusted advisor for high-net-worth individuals and business owners, Roger talks about the significance of creativity for entrepreneurs and financial advisors, the most pressing concern in the world of compliance presently, and the reason behind his creation of Smartria.

Key Takeaways

[02:13] - How creativity plays a role in Roger's work life.

[02:58] - The AHA moment that sparked Roger to create Smartria.

[06:10] - The type of creativity Roger enjoys the most.

[06:52] - Roger's definition of Community Family Office.

[11:43] - The most pressing concern in the world of compliance presently.

[12:52] - How Roger handles compliance issues.

[14:56] - Roger's advice to business owners.


Quotes
[02:37] - "As entrepreneurs and financial advisors that are using technology, you have to think outside the box because there's no template or outline for how you are supposed to do things every day. You have to find a solution that works for your business, whatever that business is." ~ Roger Kiger
[05:57] - "We can't fight technology. We need to embrace it and utilize it to be better at what we do every day." ~ Roger Kiger
[15:13] - "The hardest thing we can do as advisors is differentiate ourselves from other advisors. The only way to do that is through marketing and social media. It's hard to be a community family office and do what you want without interacting with the public electronically." ~ Roger Kiger

Links 

Roger Kiger on LinkedIn

Visionary Horizons Wealth Management

Charles Schwab


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Smartria

Mac on LinkedIn


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Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.

Innovation is not confined to technological advancements alone. It is a way of thinking, a mindset that permeates an organization's ethos and influences its members' behavior and problem-solving approach. Moreover, establishing compliance in an organization should not be viewed as an obstacle to innovation. How can organizations foster a culture of compliance that encourages and supports innovative thinking and creativity?
In this episode, Mac talks with Bill Hortz, Founder and Dean of the Institute for Innovation Development. With over 40 years of experience in financial services, Bill has worked in various roles, including head of sales at firms like Templeton Fund Distributors and a Director of Strategic Accounts at OppenheimerFunds. His wide-ranging experiences have led him to a strong belief, passion, and advocation for innovation creation, strategic thinking, and strategic account management as the nexus of business forces needed to address a business environment challenged by an accelerating rate of change.
Dedicated to helping businesses change to establish a culture of innovation while embracing new ideas and approaches, Bill talks about the importance of creativity, community, and compliance in the financial services industry. He emphasizes the need for a mindset shift to embrace innovation and adapt to the accelerating rate of change. Bill also highlights the power of building networks and communities to solve problems and stay ahead in a rapidly evolving industry.

Key Takeaways

[01:17] - Bill Hortz's background and role at the Institute for Innovation Development.

[04:15] - Bill's "AHA" moment that led to the creation of the institute.

[08:23] - The importance of creativity and innovation in a changing business environment.

[13:00] - The role of creativity and innovation in AI and technology.

[13:57] - Bill's advice on developing a creative and innovative mindset.

[19:48] - The power of community and networks in problem-solving and innovation.

[26:13] - How creativity and innovation can be applied to compliance.

[29:30] - How people can learn more about the Institute for Innovation Development.


Quotes
[10:33] - "Innovation is the ongoing execution of new ideas that create new client value. It's not just an idea. You have to make it real." ~ Bill Hortz 
[11:13] - "Innovation does not equal technology. Innovation is a way of thinking. It's a mindset and a way of behaving and handling challenges. Innovation is a dynamic process." ~ Bill Hortz 
[14:31] - "The greatest thing the Institute for Innovation Development is trying to do is build awareness. You can't change your mindset if you're not aware that there's a mindset that needs to be changed." ~ Bill Hortz 

Links 

Bill Hortz on LinkedIn

Bill Hortz on Twitter

Institute for Innovation Development

The Innovator’s DNA


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Smartria

Mac on LinkedIn


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Learn more about Smartria
Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.

Compliance officers have long been recognized for their steadfast commitment to maintaining regulatory compliance. But they also possess a unique attribute that sets them apart—agility. Their ability to adapt, collaborate, and think outside the box are valuable for making informed regulatory interpretations and decisions. By embracing a flexible mindset and fostering collaboration within the compliance community, they uncover innovative approaches to achieving the ultimate goal: providing the most cost-effective compliance solutions.
In this episode, Mac talks with Scott Gill, Founder and Senior Consultant of Synergy RIA Compliance Solutions. Scott is an experienced compliance consultant with a strong background in both RIA and broker-dealer compliance. He began his financial services career in 2006 as a Registered Representative with E*Trade Financial. Scott previously held the title of Compliance Officer at Carolinas Investment Consulting, a dually registered RIA and broker-dealer firm, managing approximately $1 Billion in assets under management. 
With a mission to deliver cost-effective compliance solutions for registered investment advisors, Scott talks about how creativity can help businesses adapt to changing conditions, what's new in the compliance world, and what Synergy RIA Compliance's recent comment letter to the SEC is all about.

Key Takeaways

[00:59] - Scott's journey into regulatory compliance.

[03:37] - How creativity applies to Scott's professional life.

[06:34] - How creativity can help businesses adapt to changing conditions.

[09:47] - The communities that Scott is involved in and finds important.

[12:22] - The level of interest Scott has in learning and meeting people at conferences.

[13:42] - What's new in the compliance world?

[18:56] - What Synergy's recent comment letter to the SEC is all about. 

[24:20] - Why people should consider writing comments to the SEC.


Quotes
[05:37] - "One of the things we, compliance officers, do that is special is we remain very agile. We do not become rigid in any way. We focus heavily on processes, but we will change that process in a heartbeat if there's an inefficiency or if it's not meeting the ultimate goal, which is to provide the most cost-effective compliance solution." ~ Scott Gill

[10:55] - "Compliance is a regulatory environment that's full of gray areas. So, getting different perspectives from other compliance professionals is important as you're making your regulatory interpretations and decisions." ~ Scott Gill

[21:17] - "Many of the rules proposed to the SEC are not designed for single advisor state-registered firms. A single individual who's already wearing multiple hats and adding additional requirements may not reduce risks for the size and nature of their business." ~ Scott Gill

Links 

Scott Gill on LinkedIn

Synergy RIA Compliance Solutions

E*Trade

J.P. Morgan

Wells Fargo

Carolina's Investment Consulting

XY Planning Network

IACCP Designation and Training Program

National Association for Fixed Annuities


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Smartria

Mac on LinkedIn

Rebekah on LinkedIn


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Learn more about Smartria
Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.

Compliance, by its very nature, is an ever-changing landscape. Laws and regulations evolve, new requirements emerge, and staying ahead of the curve is important. However, contrary to popular belief, compliance need not be intimidating and overwhelming. With the right resources, creativity, and a proactive mindset, navigating this dynamic landscape can become achievable, ensuring that organizations can operate within the boundaries of the law while fostering growth and success.
In this episode, Mac talks with Tiffany Chamberlain, Founder and Managing Director of Polaris Compliance Consulting. Tiffany started Polaris Compliance Consulting with almost 20 years of experience in accounting, audit, and compliance in the financial services industry. As a former NASD (now known as FINRA) regulator and "Big 4" advisory consultant, she has audited and advised over 350 broker-dealers and registered investment advisors. Tiffany advises clients on the latest regulatory developments, such as form ADV filings, customer disclosures, custody, and advertising, and assists clients in implementing policies and procedures designed to comply with the rules and regulations.
Having the valuable experience of being on both sides of compliance, first as a former regulator and second as a senior compliance officer, Tiffany talks about how creativity applies to compliance, what it's like to interact with regulators, and the most common compliance issues advisors face.

Key Takeaways

[01:06] - An introduction to Tiffany Chamberlain and Polaris Compliance Consulting.

[01:58] - The role of creativity in Tiffany's life and work.

[03:58] - The kind of creativity Tiffany appreciates and enjoys.

[06:50] - What communities Tiffany is involved in on a daily basis.

[08:09] - What it's like to interact with regulators.

[10:26] - How the regulatory environment has changed over time.

[11:54] - The most common compliance issues advisors face.

[14:18] - Why senior investors are a hot topic these days.

[17:45] - How fund classes are handled in terms of compliance.

[19:17] - The number of firms Polaris works with.


Quotes
[02:41] - "When I think of creativity, it's how we can streamline things. It's how we can make our services easier and more accessible to our clients and figure out the best way to deliver compliance in the most pleasant way possible." ~ Tiffany Chamberlain
[11:20] - "Regulators love to see firms utilizing RIA software resources. It shows that the firm cares, they take it seriously, and that they're respectful of compliance." ~ Tiffany Chamberlain
[20:25] - "Compliance is an ever-changing environment. Everyone needs to stay up-to-date and always be prepared. It's not something scary. As long as you have the right resources in place, it's easy to navigate." ~ Tiffany Chamberlain

Links 

Tiffany Chamberlain on LinkedIn

Polaris Compliance Consulting


Connect with our hosts

Smartria

Mac on LinkedIn

Rebekah on LinkedIn


Subscribe and stay in touch

Apple Podcasts

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Learn more about Smartria
Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.

In today's interconnected world, data breaches and cyber threats have become pervasive. Safeguarding sensitive information has become a paramount concern for businesses of all sizes. Cybersecurity is critical, not only for large companies that handle substantial amounts of sensitive information, but also for small businesses aiming to establish a strong foundation in the digital world. 
In this episode, Mac talks with Jonathan Addington, President of CyberSecureRIA. Jonathan founded CyberSecureRIA with a specific mission: to provide comprehensive support to RIAs in the realm of cybersecurity. Its cybersecurity and IT support packages are based on the latest SEC guidance and publications by the National Institute of Standards and Technology (NIST). CyberSecureRIA exists to secure SEC-registered RIAs, keep them compliant with cybersecurity regulations, and tailor connectivity and cybersecurity IT Solutions for growing businesses.
With years of experience in cybersecurity and an in-depth understanding of SEC requirements, Jonathan speaks about how the SEC addresses cybersecurity in businesses, why cybersecurity compliance is important for large and small companies, and his recommendations for the cybersecurity industry.

Key Takeaways

[00:52] - A brief overview of Jonathan's background.

[01:58] - How Jonathan expresses his creativity.

[04:37] - How Jonathan uses his creativity in business.

[07:44] - The communities that matter to Jonathan.

[16:08] - How SEC addresses cybersecurity in business.

[21:11] - Why cybersecurity is important for large and small companies.

[27:03] - Jonathan's recommendations for the cybersecurity industry.


Quotes
[07:05] - "There's never been any other time in history that you could help so many people at once, at scale. And it's all technology." ~ Jonathan Addington
[16:37] - "On the technical cybersecurity side, the good news is that the government did a good job. They list cybersecurity best practices and things that a business of any size should be doing. It's a great playbook on how to stay secure." ~ Jonathan Addington
[23:05] - "If you are one of these smaller businesses and don't have internal IT staff, it's very common to outsource all of that. You work with a provider that knows how to get cybersecurity done for you, and they ought to be working with you like they're an internal part of your organization." ~ Jonathan Addington

Links 

Jonathan Addington on LinkedIn

CyberSecureRIA

Jolt Conference

Robert Herjavec


Connect with our hosts

Smartria

Mac on LinkedIn

Rebekah on LinkedIn


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Learn more about Smartria
Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.

In regulatory frameworks and industry standards, compliance often evokes images of rules, restrictions, and limitations. However, driven by their creative thinking and dedication, compliance officers bridge the gap between regulatory requirements and innovative solutions. The interplay between creativity, compliance, and artificial intelligence (AI) helps organizations navigate the complex regulatory landscape more effectively, finding a balance between adherence to rules and the pursuit of progress.
In this episode, Mac talks with Akhil Lodha, Co-Founder and CEO of StratiFi. Akhil is tackling the need to understand portfolio risk through cutting-edge technology. With a modern risk management solution, he works with advisors to help clients have a better financial future by empowering them to easily understand risk and make decisions with clarity, confidence, and control. 
Recognizing that creative approaches to meeting regulations reduce friction, Akhil talks with Mac about how creativity relates to compliance, why compliance officers are among the most creative people, and the impact of artificial intelligence.

Key Takeaways

[00:59] - Akhil Lodha’s backstory.

[02:31] - How creativity plays a role in Akhil's life.

[07:27] - What creativity has to do with compliance.

[09:51] - How Akhil uses creativity in his personal life.

[12:52] - The communities Akhil is involved in.

[16:37] - Akhil's experience with Y Combinator.

[24:07] - What compliance problem interests Akhil the most.

[27:56] - The impact of AI on compliance.

[30:27] - Akhil's take on what happened at Silicon Valley Bank.


Quotes
[07:32] - "By design, regulators tend to approach the industry with the idea of restricting something. It's often reactive, not proactive. Once people have gotten used to it, it introduces friction into the process. So, you have to think about creative ways of meeting the regulators and the regulations." ~ Akhil Lodha
[12:29] - "You can always find creative ways of doing things. Thinking outside the box can help you unlock your potential in ways you may not have thought about before." ~ Akhil Lodha 
[23:24] - "There are bad actors out there, and they can have consequences for some people. And even though a small number of people are affected, the impact that it can have on the credibility of the community can significantly outweigh the number of people. That's why compliance officers and guardrails are important." ~ Akhil Lodha

Links 

Akhil Lodha on LinkedIn

Akhil Lodha on Twitter

StratiFi

Citigroup

Y Combinator

Carnegie Mellon University

Silicon Valley Bank


Connect with our hosts

Smartria

Mac on LinkedIn

Rebekah on LinkedIn


Subscribe and stay in touch

Apple Podcasts

Spotify

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Learn more about Smartria
Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.