Fasten Your Seatbelts

Anniversary Letter

I think the past 12 months can aptly be described as eventful and even turbulent. If it were an airplane ride and your captain could foresee what was to transpire over the past year, she’d probably have illuminated the “fasten your seatbelts” sign overhead and make you get back to your seats. Not only have we had the continued evolution of the world’s struggle with COVID-19, but the Capitol Riots, the Russia Ukraine War, and the reversal of Roe v. Wade have created enormous disruptions that have impacted just about everyone around the world.

Our nation’s financial services industry has seen its fair share of change. The industry continues to accommodate for the impact of lingering COVID-19 concerns around a hybrid work setting. Regulators and the industry remain committed to the battle against Social Engineering Scams, Phishing, Elder Financial Abuse, and Cybersecurity.

Under Chairman Gensler, the SEC has been actively pursuing many initiatives; some old, some new. DOL, FINRA, and State regulators have also been devoted to strengthening the regulatory environment to protect the interests of the investing public. Whether it’s Form CRS, Vendor Management, Crypto, Restricted Firms, PTE 2020-02, Marketing Rule, Best Interest Rules for Annuities, IAR Continuing Education, and others, regulators are hard at work.

Two notable areas that we have yet to see the impact on the future of our regulatory environment are the SEC’s latest proposed rules for Cybersecurity Risk Management and ESG Investment Practices. Both of these initiatives aim to increase the amount of information (i.e. disclosures) that companies and firms provide to the general public. As proposed rules at this point, their requirements are not set in stone until a final version is the officially adopted which I don’t believe will be an if, but more likely a when.

And trust me when I say, I’ve not forgotten the fact that advisers and firms have been dealing with the recent volatility and downturn in the market which reached Bear Market status on inflation concerns and the potential for recession in the not too distant future. While we have been working to stay abreast of all the happenings on the regulatory compliance front, we know you’ve been counseling your clients and helping them adjust to the financial volatility which has unnerved many (or at the very least the news media ☺).

We at The Consortium remain committed to being right beside you keeping track of the regulatory environment and changes to keep you ahead of the game. So, continue the good fight, doing what you do best, and help your clients strive for their financial and life goals. When things start to get choppy, consider taking a moment to prepare; get your tray tables locked, put your seats in the upright position, and fasten those seat belts.

Have a wonderful 4th of July, everyone!

— Todd Sakoda
— John T. Carr
— Lisanne M. Butterfield

The Consortium has been lifting the burden of compliance for advisors since July 4, 1989.

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If you are the Owner, CEO, President, Chief Compliance Officer – even the person in charge of marketing – you have a burden to comply with the securities laws. Our team of Professional Weightlifters has an array of compliance services and resources to lift that burden off your shoulders.

If you need a compliance partner providing boots on the ground support, our on-going consulting services may be the solution for you.

If you’re looking for cost effective ways to stay in the loop, checkout our regular publications:

If you are a do-it-yourself type person, we offer a number of compliance resources and programs:

RIA Fast Track Program

Includes compliance resources and consultations to get your operations up and running. Designed as a start-up service for new RIA firms, it is a part do-it-yourself and part “Ask the Expert.” If you are creating a new RIA, contact us for details.

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RIA Pump It Up Refresher Course

Includes compliance resources and consultations to get your operations in tip-top shape.  Designed to lift the burden of compliance off your shoulders in an efficient and economic manner, it is a part do-it-yourself and part “Ask the Expert.”  If you need to dust off your compliance files, contact us for details.

Compliance Resources

Both educational and easily customizable to your practice are available for your use.

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If you need a compliance partner providing boots on the ground support, our on-going consulting services may be the solution for you.

• Our Professional Weightlifters are available to help you stay on top of the compliance environment and help you remember all those compliance do’s and don’ts.
• Need more time in your day? We assist you with the implementation of your compliance responsibilities.
• Contact The Consortium to see how we can be of assistance to you: todd@liftburden.com or (971) 801-1346.