Why do so many new wealthtech firms specializing in some aspect of investment management solutions fail to sufficiently account for compliance and regulatory risk management in their offerings?
And how can wealthtech firms that deliver digital asset management capabilities to RIAs, IBDs and bank or credit union-based wealth management businesses best ensure that compliance remains front and center to the work they do?
John Guthery, Chief Investment Officer, FusionIQ: “Many wealthtech firms lack the breadth of management experience to properly implement and operate a compliance-forward platform. Compliance comes in the form of regulations but is implemented through tech, operations, and pricing. Having deep product, custody, brokerage, operations, and advisory experience, in addition to an understanding of the regulations, is key to getting compliance right and effectively baking it into a platform.