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Tax Advice Restrictions For Financial Advisors: How To Offer Tax Planning And Remain In Compliance

Nerd's Eye View

And yet, despite the prominent role of taxes in financial planning, advisors are often prohibited by their compliance departments from making recommendations for a specific course of action on a certain tax strategy. Taxes are a central component of financial planning.

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When Compliance is wrong

Norman Marks

Compliance with those regulations is a major part of the internal […] Risk audit riskAs I said in my last post, I recently had the privilege of hanging out with a bunch of smart people: internal auditors. They work for an organization with manufacturing facilities all over the world, each of which is subject to strict safety regulations.

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Top Compliance Challenges Financial Advisors Face

BlueMind

Category: Compliance. The Significance Of Financial Compliance Financial compliance requires all actions, procedures, guidelines, and business culture to abide by the rules and regulations set by the regulatory authorities of the financial market. Compliance

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Upfront And Ongoing RIA Compliance Obligations Of State Vs SEC-Registered Investment Advisers

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

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The CPA Firm Growth Strategy: From Compliance to Consulting

Speaker: Rita Keller - President of Keller Advisors, LLC

Join Rita Keller, seasoned CPA firm management strategist and consultant, for an insightful discussion on the importance of diversifying your accounting skills.

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Can Compliance Be a Revenue Generator?

Wealth Management

Speakers at the Future Proof wealth festival on how compliance can move a cost of doing business to a valuable business function to be marketed—and monetized

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The New Compliance Challenges Facing Advisors

Advisor Perspectives

Restrictive compliance and new, rapid-fire regulatory rules pose a challenge for independent advisors who often do not have the bandwidth to respond in a timely manner.

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Survey: More Firms Plan to Add Compliance Resources

Wealth Management

An aggressive regulatory push by the SEC is behind the "major shift" in resources, according to Hearsay Compliance Principal Bill Simpson

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The Unique Hurdles of Real Estate ESG Compliance

Wealth Management

Real estate investment companies are facing a daunting task when it comes to properly reporting on vast quantities of data across environmental, social and governance factors. Here’s how technology can help

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Compliance Shouldn’t Be the Sales Prevention Team

Advisor Perspectives

Most compliance officers are well-intentioned, competent professionals who perform a valuable function for the investment advisory community. Then there are the exceptions

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The HR Compliance Playbook: How to Improve Speed-to-Hire

Every global growth to-do list should begin with compliance. Navigating international jurisdictions can be complex and time-consuming, but with solid, up-to-date compliance procedures, companies can maximize efficiency, speed-to-hire, and mitigate risks.

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The SEC’s Own Compliance Culture

Inside Information

I’m beginning to think the term ‘compliance’ ought to be repurposed. Maybe you see something different, but from where I sit, there is no actual encouragement from federal regulators to go beyond (somewhat grudging) compliance and embrace higher standards.

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Pitfalls for U.S. Expats: Tax Compliance

Brown Advisory

Expats: Tax Compliance. Topics we plan to cover in this series are: Tax Compliance. In this post, we tackle tax compliance. Tax Compliance. tax (potentially double tax) and unnecessary tax compliance fees. Pitfalls for U.S. mhannan. Wed, 04/13/2022 - 06:37.

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5 Tips to Prepare For a Books and Records Request (Templates Included)

XY Planning Network

Let’s dive into several ways to keep your compliance organized beyond the filing cabinet. Advisor Posts fee-only advisor Compliance RIA Compliance compliance program independent financial advisor running a firm chief compliance officer firm compliance regulators SEC organization

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If you are involved in SOX compliance, you should know about the IIA’s GAIT Methodology

Norman Marks

A fact: most companies have included far too many IT General Controls (ITGC) in their scope for SOX. Why: because they have taken an approach to scoping ITGC that is disconnected from the top-down and risk-based approach used to identify key controls within business processes. The scoping of ITGC has resulted in including ITGC controls […]. Risk audit control GAIT governance GRC IIA ISACA risk Sarbanes-Oxley SOX

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7 Compliance Challenges Companies Face When Growing Globally

Are you focusing on what’s important when it comes to global compliance? From entity setup to hiring, financial reporting to the ever-changing world of regulations, compliance plays a key role on every step of the journey toward long-term success.

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Leaving Your Firm?  The Broker Protocol is One Detail You Can't Miss

XY Planning Network

Advice Advisor Posts Blog fee-only advisor Compliance RIA Compliance RIA Registration XY Investment Solutions broker-dealers firm compliance SEC state registration Registration IAR Investment Adviser Representative Registered Representative Finra SEC Regulation S-P7 MIN READ.

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Is Your Non-Compete Binding? Helpful Tips for Transitioning Advisors

XY Planning Network

4 MIN READ. New year, new firm? Whether you’re changing firms or starting your own, there are many things to consider and do. If notifying or bringing your clients with you is on your checklist, add this task first: C heck employment contract.

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Empower Yourself and Build Client Confidence With Continuing Education

XY Planning Network

Advisor Posts fee-only advisor starting a firm compliance program independent financial advisor continuing education running a firm fee-for-service financial planning firm compliance firm ownership annual review process NASAA IAR IAR CE Credits Investment Adviser Representative

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Wasting money with audit reports

Norman Marks

I touched on […] Risk audit compliance governance GRC IIA riskThis week, I had the privilege and pleasure of spending time with a number of smart and curious professionals who are dedicated to adding value to their organization. I am talking about internal auditors, of course. I was a speaker at a multi-national company’s annual internal audit conference (something I enjoy doing).

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Your Global Compliance Playbook: Onboarding Best Practices

A well-structured onboarding process plays a vital role in welcoming new employees and helps them quickly become productive, engaged, and loyal. This guide offers key practices to compliantly onboard your new international remote workers.

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Outside Investment Manager Due Diligence & Disclosure (Templates)

XY Planning Network

Outside managers offer affordable investment management services for smaller accounts and can be a wonderful option for advisors and their clients, just keep in mind that leveraging an outside manager comes along with some regulatory considerations and compliance to-dos. 5 MIN READ.

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Coronavirus tally: China's ruling party calls for strict compliance with zero-COVID policy in move likely to frustrate citizens

MarketWatch

China's ruling party called for strict adherence to the hard-line "zero-COVID" policy Tuesday in an apparent attempt to guide public perceptions after regulations were eased slightly in places, the Associated Press reported.

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Performance Advertising Guidelines For Investment Advisers Under the SEC’s New Marketing Rule

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

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Internal Audit and ESG: My Opinion

Norman Marks

CIO.com defines ESG as: Environmental, social, and corporate governance (ESG) is a strategic framework for identifying, assessing, and addressing organizational objectives and activities ranging from the […] Risk audit boards compliance ERM ESG governance GRC IIA riskI have seen several articles and blog posts lamenting the apparent fact that internal audit teams are not spending a large percentage of their audit plan addressing ESG risks.

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Compliance Throughout the Remote Employee Lifecycle

Compliance is a constantly evolving challenge, from the recruiting stage all the way to employee offboarding. Companies must stay compliant at all stages in the employee lifecycle. This eBook offers strategies to maintain compliance, outlines common compliance mistakes, and more.

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Advisory Agreement Statutory Requirements: What Advisors Need To Know To Stay Compliant

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN Registered Investment Advisers (RIAs) are generally required to enter into an advisory agreement with their clients prior to being hired for advisory services.

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Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

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The Great Resignation Risk

Norman Marks

Risk audit boards compliance control ERM governance GRC riskWhile many are focused on issues like cyber, saying it is perhaps the greatest source of risk to an organization today, I believe there are greater sources of concern.

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Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

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How to Evaluate Business Lending Software for Your Bank

Business lending is a community bank’s secret weapon to increase total revenue and provide a great experience for their valued small business clients. But how can you get the right platform for your bank to issue business loans digitally? This eBook explains the features of a Business Lending Platform you need to make your top priority.

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Advisory Agreement Statutory Requirements: What Advisors Need To Know To Stay Compliant

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN Registered Investment Advisers (RIAs) are generally required to enter into an advisory agreement with their clients prior to being hired for advisory services.

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Good and bad advice on cybersecurity audits

Norman Marks

Risk audit boards compliance control cyber ERM governance GRC IIA ISACA riskIt happens so often, its almost not worth my time writing about it. Grant Thornton, like the other external audit firms, provides internal audit services as well. To promote them, they offer advice on matters such as how to perform audits of an organization’s cybersecurity measures and practices. This week, they published It’s time to […].

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How To Register Your RIA: State Vs SEC Registration And When Notice Filing Is Required

Nerd's Eye View

Regulation & Compliance OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

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The risk is assessed as high. So what?

Norman Marks

Risk audit boards compliance control ERM governance GRC IIA ISACA riskWhile there may be a debate whether risk should be assessed using qualitative or quantitative measures, I believe that is answering the wrong question. Knowing what the level of risk is, even whether it is an unacceptable level of risk, is insufficient information. It doesn’t answer the questions of: Should I take the risk? How […].

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Our Top Blogs of 2022 for Independent Financial Advisors

XY Planning Network

5 MIN READ. Over the past year, we've published articles written with one purpose in mind: to help independent financial advisors be successful. As 2022 comes to a close, we rounded up our top 10 most-viewed blogs published this year.

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Where do our SOX programs stand today? Two reports

Norman Marks

Two firms recently released reports on SOX Compliance trends: Protiviti and Deloitte. When I was responsible for SOX at my company, I wanted to find out what our internal SOX compliance costs were. Risk audit compliance Deloitte governance IIA Protiviti risk Sarbanes SOXI need to make one important point. To my surprise, more than 50% of the costs were incurred by management: supporting testing […].

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When the IS auditor identifies a lack of segregation of duties

Norman Marks

Risk audit boards compliance control ERM governance GRC IIA ISACA riskChinmay Kulkarni has asked people on LinkedIn a question that appears to be from the ISACA Certified Information Systems Auditor (CISA) exam. He posted (I have included the current poll results, with 941 voting): CISA Question 3 As an IS auditor, what is the FIRST step you will take upon identifying lack of segregation of […].

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Share this video interview with your board and top management

Norman Marks

Risk audit boards compliance ERM governance GRC IIA riskToday, I will review two very different sources for perspectives on risk management. Then I will provide a link to a paper by a law firm of relevance for board members and CROs. The first is an interview with Robert Finocchio on ‘Risk Oversight and Assessment’. If you look at his background, you will see […].

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Decision-based Risk Management

Norman Marks

Risk audit boards compliance ERM governance GRC management riskWARNING: This is likely to be a controversial post! I have been talking (OK, preaching) about the need to manage the likelihood of achieving objectives (i.e.,