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Investment Adviser Association
Justin Kapahi
Marc Gilman
Vanessa Valerie Tay
Workplace by OS33
Written by Workplace by OS33
on April 06, 2018

The first Workplace Client Advisory Board of 2018 took place in Washington DC on March 28. Over 30 Workplace customers on the East Coast got together with the Workplace team to discuss technology matters relating to the wealth management industry.


cab recap blog post

 

Topics covered during the session include data security risks, regulatory compliance, and data aggregation, along with the features that support these functions.

We would like to give special thanks to our external speakers:

  • Zachary D. Furnald, JD, Compliance Counsel, MarketCounsel
  • Anita Venkiteswaran, Principal, Focus Financial Partners
  • Cassie Warrington, VP, Platform Consultant, Fidelity Clearing and Custody Solutions 

Workplace CAB - Zach and MarcWorkplace CAB - Anita Left: Zachary from MarketCounsel and Marc from OS33 / Right: Anita from Focus Financial Partners

The following are some key points of what our external speakers discussed during their presentations.

Fidelity Institutional Asset Management

Cassie’s presentation highlighted that while Wealth Advisors have access to large amounts of data on a daily basis, that data is mostly unorganized.

This has sparked an innovative data aggregation solution from Fidelity Institutional Asset Management, which will be available in Q3 this year.

The solution will help Wealth Advisors acquire, reconcile, and consume massive amounts of investor and firm data. Fidelity aims to help clients stay ahead of the curve by leveraging cutting-edge technology solutions.

Find out more about Fidelity’s technology and products here.

Focus Financial Partners

Anita, from Focus Financial Partners, presented on the importance of Wealth Advisors having a succession and continuity plan to protect their businesses.

Focus has observed that Wealth Advisors commonly face challenges like decreasing their involvement in the business while creating liquidity for themselves.

Having worked with over 100 RIAs for succession and continuity planning, Focus has become industry leaders in helping Wealth Advisors create and enact a plan for transitioning the business to the next generation.

Download the white paper on Succession Planning here.

MarketCounsel

Zachary from MarketCounsel had a robust discussion with Marc Gilman, VP, Compliance & General Counsel, OS33. They discussed cybersecurity aspects of SEC examinations, including preparedness and historical areas of focus.

Zachary and Marc also reviewed the SEC’s focus on retail investor protection as evidenced by their inclusion of disclosure requirements related to seniors, and retirement accounts in the exam priorities.

Finally, Zachary briefly talked about the anticipated scope of cryptocurrency examinations and their coverage of transparency and investor protection issues. 

The Workplace team would like to thank all of our clients who took the time to join us at our first Client Advisory Board of 2018.

Let us know what you thought about this post.

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