2020 Compliance Program Assistance for Small firms

 

Basic Compliance Program 1

Solid will assign a dedicated consultant who gets to know your business and builds a relationship with your firm. This program includes the three pillars of a successful compliance program, risk Identification, Consulting and Education/Training.

Consulting Services

Your program will begin with an introductory call with your dedicated consultant.

During the course of your annual engagement, you will receive:

An off-site Compliance Program review focused on:

• Policy and Procedures

• Code of Ethics

• Disclosures in Form ADV

• Client Agreements

Upon completion of the review, your Solid consultant will schedule a conference call to review the three (3) highest areas of risk findings and provide a brief written summary after the call. Clients are responsible for making recommended changes or updates to disclosures or manuals. Client may elect to utilize remaining consulting hours for such activities.

Solid will provide important reminders and assist the firm in completing the Annual Updating Amendment. Solid will compare ADV Part 1 to relevant areas in the ADV Part 2A and make minor updates/adjustments (i.e. date of documents, RAUM, custody reporting and ownership) as needed. Solid then schedules a call to review the ADV Part 1 with the client, prior to filing. Client approves the final draft prior to fling. Solid includes filing of the ADV Part 1, Part 2A and any Part 2Bs (as applicable) required disclosure documents or the firm may choose to file – the service is not discounted when the firm files for itself.

The consultant will discuss recommended actions to include in your firm’s compliance calendar.

Your dedicated Consult will review one (1) U-4 to the financial professional’s ADV Part 2B for accuracy and be available to complete up to three U4s and/or U5 filings.

In addition, you will receive two hours of ongoing telephone support, throughout the contracted year from your dedicated consultant to ask questions as they arise.

Solid will also send reminders regarding your firm’s renewal registrations and check to make sure the account is funded for renewals and the registration was processed after the 1st of January.

Technology helps bring it all together. You will have a one-year subscription to Solid Compliance software. This service is part of the package and cannot be removed. Solid’s technology makes available to you and your firm:

• Manual Management (IA Policy and Procedure, Code of Ethics, Business Continuity Plan)

• Checklists for assistance

• Form Documents and Templates for your use

 

Compliance Partnership Level 2

Solid will assign a dedicated consultant who gets to know your business and builds a relationship with your firm. This program includes the three pillars of a successful compliance program, risk identification, Consulting, Training and Technology.

Consulting Services

Your program will begin with an introductory call with your dedicated consultant.

During the course of your engagement, you will receive:

An off-site limited Compliance Program review focused on:

• Policy and Procedures – focused on Exam Priorities for the current year and new regulations

• Code of Ethics

• Disclosures in Form ADV

• Client Agreements

• Review of Marketing and Social Media

Upon completion of the review, your Solid consultant will schedule a conference call to review findings and provide a written annual review summary and guidance on how to implement the recommendations.

Solid will complete the filing of your Annual Updating Amendment.

The dedicated consultant will also be available to complete up to three U4 and/or U5 filings and updates.

In addition, you will receive ongoing telephone support from your dedicated consultant to ask questions as they arise for up-to eight hours throughout the contracted year.

Training is an important part of a compliance program. Your firm will receive a one-hour, tailored annual compliance meeting, performed on-site by the dedicated consult. The presentation is interactive and allows your staff to ask questions.

Technology helps bring it all together. You will have a one-year subscription to Solid Compliance software. Solid Compliance provides:

• Policy and Procedure Management and secure cloud-based storage

• Code of Ethics including attestation

• Customizable compliance calendar and task list with reminders

• Model/Template documents library

• Expert guides and checklists

• An upload of the completed Annual Review Report

• Attestation Management and Archiving

 

Compliance Partnership Level 3

Solid will assign a dedicated consultant who gets to know your business and builds a relationship with your firm. This program includes the three pillars of a successful compliance program, Consulting, Training and Technology

Consulting Services

Your program will begin with an introductory call with your dedicated consultant.

During the course of your engagement, you will receive:

An off-site limited Compliance Program review focused on:

• Policy and Procedures, review and customization (client must be able to provide policies and procedures in a word format)

• Code of Ethics

• Disclosures in Form ADV

• Client Agreements

• Review of Marketing and Social Media

Upon completion of the review, your Solid consultant will schedule a conference call to review findings and provide a written annual review summary and guidance on how to implement the recommendations.

Understanding and managing your risk is critical. Your Solid consultant will conduct a risk assessment that will provide a Risk Matrix and a testing plan for you to use for Five High Risk areas.

The consultant will provide assistance in completing the Firm’s annual Regulation S-ID Risk Assessment and provide final documents for senior management sign-off.

Solid will complete the filing of your Annual Updating Amendment.

Complete up to five U4 and/or U5 updates or filings.

Solid will be with every step of the way. As part of this program, the consultant will schedule quarterly conference calls to help you stay up-to-date and provide reminders and guidelines based on your compliance calendar.

In addition, you will receive telephone support from your dedicated consultant to ask questions as they arise for up to 16 hours throughout the year. Use this time for advertising reviews, testing assistance, etc. (Use this time for e-mail review assistance, advertising reviews, proxy policy reviews, Social Media reviews, cyber security questions, etc.)

Training Your Solid consultant will create and lead a one-hour off-site interactive training session tailored to your firm’s specific business.

Technology helps bring it all together. You will have a one-year subscription to Solid Compliance software which provides your firm:

• Policy and Procedure Management and secure cloud-based storage

• Code of Ethics including attestation

• Custom compliance calendar

• Monthly compliance tasks and activities

• Model/Template documents library

• Expert guides and checklists

• Annual Review Management Upload Report

• Attestation Management and Archiving

**Compliance Partnership level three can upgrade the off-site annual review to a one day on-site for an additional $2000 – travel not included.