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Strategies for Successfully Managing an SEC Audit

The SEC has expanded its auditing process to promote a culture of compliance within financial services by:

  1. Driving program efficiencies through process and technology.
  2. Realigning internal staffing to address the coverage rates for RIAs.
  3. Increasing training and onboarding of experienced subject matter experts.

If you haven’t planned for an SEC audit, now is a good time to start preparing, especially as technological advances and a more data-centric approach have made the process much more streamlined.

In Financial Planning magazine, Senior Consultant, Thomas Reid, shares his thoughts on how RIAs can successfully manage an SEC audit.

According to Thomas, “Firms using a unified wealth management platform may have an easier time navigating an audit because they may be able to pull data more quickly and easily than a firm that has to manually piece together data from multiple reports and providers, a resource-intensive process.”

To minimize the pain and disruption of an audit by the SEC, recently formed RIAs and those that have not been examined for some time should prepare now.

To read Thomas’ article in its entirety, visit Financial Planning.

Our expertise and ability to quickly locate and export data in the format the SEC requires saved our client valuable time so that they could focus on serving their clients. To learn how LibertyFi can help your firm prepare for an audit, contact Thomas treid@libertyfi.com.