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Basic Package for State Registrants – $285 per Month

For twelve monthly installment payments of $285 per month, Solid Regulatory Risk Management Services, Inc. offers its Basic State Package – Annual Compliance Program Subscription to assist and support your registered investment adviser firm with its ongoing compliance obligations. Our Basic State Package typically includes the following services and compliance tools:

  • As-Needed Consulting. Our compliance consultants will be available on an as-needed basis for up to three (3) hours of consulting annually, regarding your registered investment adviser’s general compliance issues. The consultant can discuss Form ADV revisions and will make minor adjustments and filings at the adviser’s request, minor compliance manual updates, licensing discussions, marketing material review (not performance related nor social media) and amending U-4s, adding or terminating IARs (limited to two total per year).

  • IARD Renewals. Solid will prepare and calculate your registered investment adviser’s licensing renewals.

  • Form ADV Part 1A Annual Updating Amendment (AUA).* Solid will calculate the amount needed to be paid to the IARD (if applicable) and Solid will also provide payment instructions and check that Adviser’s IARD account is fully funded prior to filing the AUA. Solid’s consultants will prepare and file the Form ADV Part 1A Annual Amendment for your registered investment adviser’s fiscal year-end.

  • Compliance Manual Section Updates.** Periodically, Solid Regulatory Risk Management Services, Inc. will release update notifications for your compliance manual depending upon regulatory activity. Solid will notify you when we release new updated recommended policy and procedure templates and they will be made available to your through your online subscription email account;

  • Regulatory Exam Prep – You will receive access to our regulatory exam best practice checklists, sample forms, webinars, and documents we have compiled from actual regulatory examinations. These documents are only available through our Client Portal or at your firm’s request during the term of your service program;

  • Recorded Compliance Training – Unlimited previously recorded webinars hosted by Solid Regulatory Risk Management Services, Inc. available in our archives or on your client portal during the term of the service program;

  • Compliance Calendar & Reminders – Sample annual compliance calendar and general email reminders of certain ongoing compliance requirements delivered periodically throughout the term of the engagement;

  • Sample Forms Package – You will receive an initial package and can request additional deliveries of certain sample forms available through our online store during the term of the engagement. (e.g., outside business activities disclosure form, personal securities transactions report, books and records documentation log and suggested list of compliance files and reports, sample customer privacy policy notice);* and

  • Regulatory Notices – Solid will provide pertinent compliance updates and notices (such as Risk Alerts) provided through our email notices service.

This Basic State Package – Annual Compliance Program Subscription is designed to provide the most basic compliance support and training in a cost-effective manner. It is ideal for new state registered investment adviser firms or existing registered investment adviser firms with a very limited number of personnel and compliance budget.

*This service requires registered investment adviser to furnish a fully updated ADV Part 2A/B to consultant and does not contain a review of these items.

**Consultations regarding and/or customized drafting of new or updated template sections will be charged at an hourly rate of $285 or applied against budgeted consulting hours. .The hourly rate is not subject to pro-rate for time not utilized. This service does not include an annual review of your compliance manual or program, risk assessment/gap analysis or any forensic testing. This program does not support reviews for Code of Ethics, BCP or IT/Cybersecurity. Your firm may choose to purchase a template compliance manual that the adviser can tailor to its business. This template compliance manual is at an additional cost and does not come with this package.

 

State and SEC Basic Compliance Package – $346 per Month

For twelve monthly installment payments of $346 per month, Solid Regulatory Risk Management Services, Inc. offers its State and SEC Basic Compliance Package – Annual Compliance Program Subscription to assist and support your compliance staff and the adviser firm with its compliance obligations. This State and SEC Basic Compliance Package typically includes the following services and compliance tools:

  • As-Needed Consulting. Our compliance consultants will be available on an as-needed basis for up to five (5) hours of consulting regarding your registered investment adviser’s general compliance issues, minor Form ADV revisions, Compliance Manual/WSP updates, licensing questions, marketing material review (not performance related) and amending U-4s, adding or terminating IARs (limited to 3 total per year);

  • IARD Renewals. Solid will prepare and calculate your registered investment adviser’s licensing renewals, provide reminders of important renewal dates.

  • Form ADV Part 1A Annual Amendment*. Solid will provide the amount needed to be paid to the IARD (if applicable) and Solid will also provide payment instructions and check that Adviser’s IARD account is fully funded prior to filing. Solid will prepare and file the Form ADV Part 1A Annual Amendment for your registered investment adviser’s fiscal year-end.

  • Compliance Manual Section Updates **. Periodically, Solid Regulatory Risk Management Services, Inc. will release recommended updates for implementing into your firm’s compliance manual depending upon regulatory activity. Solid will notify you when we release a new recommended update and the recommended policy will be made available to you through your online subscription account.

  • Compliance Policy Review Express – Compliance Review – A Solid consultant will schedule a one-hour call to review up to three compliance policies with designated adviser staff. Solid will provide an electronic tool that lets your compliance staff follow a guided process to reviewing your firm’s compliance manual and allows your firm to track any corrective actions. This electronic tool takes your compliance staff through a checklist of items and asks questions about your investment adviser’s disclosures and policies/procedures. Completing the tool will provide a summary of your firm’s review and assist your firm in tracking corrective actions.Ϯ

  • Regulatory Exam Prep – You will have access to our regulatory exam best practice checklists, sample forms, webinars, and documents we have compiled from actual regulatory examinations. These documents are only available through our client portal or by request.

  • Recorded Compliance Training – Unlimited use of Solid’s previously recorded webinars hosted by Solid Regulatory Risk Management Services, Inc. are available in our archives or on the client portal during the term of your services program;

  • Compliance Calendar & Reminders – Solid will provide a sample annual compliance calendar that can be tailored by your staff and general reminders of certain compliance requirements will be delivered periodically throughout the term of the engagement;

  • Sample Forms Package – You will receive an initial package and can request additional deliveries of certain sample forms available through our online store during the term of the engagement. (e.g., code of ethics acknowledgement, outside business activities disclosure form, personal securities transactions report, books and records documentation log and suggested list of compliance files and reports, sample customer privacy policy notice).*

  • Regulatory Notices – Compliance updates and notices provided through our newsletter and email notices.

In addition to the basic compliance support and resources, this State and SEC Basic Compliance Package – Annual Compliance Program Subscription also provides a method for you to conduct a self-evaluation of your registered investment adviser firm’s compliance program which leverages the knowledge and experience of Solid Regulatory Risk Management Services, Inc. to guide you through your self-conducted review. It is ideal for a State Registrant or a SEC registered investment adviser firm with a modest budget who want to conduct their own annual review.

*Solid’s consultant will update ADV Part 2A, Cover Page and Item 2, dates and Item 4, RAUM. This service requires the investment adviser to furnish Solid with an ADV Part 2A/2B that contains all other updated information and does not provide a review of these items by Solid or its consultants. This service does not include reviews or filing of Form CRS.

**Consultations regarding and/or customized drafting of new or updated compliance manual sections will be charged at an hourly rate of $285 or applied against budgeted consulting hours. .The hourly rate is not subject to pro-rate for time not utilized. This service does not include an annual review or risk assessment or any forensic testing provided by Solid or its consultants.

Ϯ Consultants do not provide assistance with completing express review form and this program does not support reviews for BCP or IT/Cybersecurity.

 

Consultant Assisted Services Package – $585 per Month (5 Consulting Hours)†

For twelve monthly installment payments of $585 per month, Solid Regulatory Risk Management Services, Inc. offers its Consultant Assisted Services Package – Annual Compliance Program Subscription to assist and support your Compliance Staff and the investment adviser with its compliance obligations. Our Consultant Assisted Services Package typically includes the following components:

  • As-Needed Consulting. Our expert consultants will be available on an as-needed basis for up to five (5) hours of consulting regarding your registered investment adviser’s general compliance issues, Form ADV revisions, adviser staff can schedule a call to review questions with Form CRS, Compliance Manual and WSP updates, licensing, marketing material and social media review (not performance related) and amending U-4s, preparing 2B Supplements or adding or terminating IARs. (limited to 8 total per year).

  • IARD Renewals. Solid will prepare and calculate your registered investment adviser’s licensing renewals as well as provide reminders of important renewal dates. Solid will check that funding has been added to adviser’s account and perform a post registration review in January to determine all registrations were renewed as directed.

  • Form ADV Part 1A Annual Amendment. Solid will provide the amount needed to be paid to the IARD (if applicable) and Solid will also provide payment instructions and check that Adviser’s IARD account is fully funded prior to filing. Solid will prepare and file the Form ADV Part 1A Annual Amendment for your registered investment adviser’s fiscal year-end. With this package a dedicated consultant will review a questionnaire with your firm’s designee and ask pertinent questions. Solid’s consultant will assist with minor updates to the ADV Part 2A/2B’s as well as Form CRS* and file the forms on your firm’s behalf;

  • Off-Site Annual Compliance Review.** Our senior compliance consultant will conduct an annual compliance assessment and prepare a report regarding the adequacy of the investment adviser’s code of ethics, compliance policies and supervisory procedures, and the effectiveness of the implementation of such policies and procedures (limited to 13 consulting hours and contains no forensic testing or risk analysis reporting);

  • Compliance Manual Section Updates.*** Periodically, Solid Regulatory Risk Management Services, Inc. will release recommended updates to your compliance manual depending upon regulatory activity. Solid will notify you when we release the new recommended updates and they will be made available to you through your email or client portal account. At your request, the Solid consultant can review the recommended update with designated staff and implement the update into a word version of your firm’s compliance manual;

  • Regulatory Inquiries and Exam Visits. While Adviser, as the registered investment adviser, has responsibility for any regulatory inquiries or visits, the designated Solid Consultant will assist your firm with an initial call to discuss the parameters of the exam and identify specific areas of concern (if possible). Subsequent to this, the Solid Consultant will help your firm in understanding production requests made by the regulator. Solid’s consultant will also be reasonably available to answer adviser’s staff questions and provide guidance to the adviser during the course of the review. Finally, a Solid consultant will be available to assist the firm in reviewing its response and offering recommendations towards compliance with the noted deficiency(ies).

  • Recorded Compliance Training – Unlimited webinars or previously recorded webinars hosted by Solid Regulatory Risk Management Services, Inc. are available in our archives and on the client portal during the term of your service program;

  • Compliance Calendar & Reminders – A Solid Consultant will schedule a call with designated adviser staff to create a tailored annual compliance calendar with general reminders of certain compliance requirements delivered periodically throughout the term of the engagement;

  • Sample Forms Package – You will have access to templates and forms during the term of the engagement. (e.g., code of ethics acknowledgement, outside business activities disclosure form, best execution criteria checklist, advertising checklist, personal securities transactions report, books and records documentation log and suggested list of compliance files and reports, sample customer privacy policy notice).

  • Regulatory Notices. Compliance updates and notices provided through our email notices.

The Consultant Assisted Services Package – Annual Compliance Program Subscription provides your investment adviser firm with an offsite annual review led by a senior compliance consultant of Solid Regulatory Risk Management Services, Inc. It allows an investment adviser firm to leverage the knowledge and experience of a veteran investment adviser compliance professional while still being actively involved in ascertaining risks and

*Minor updates do not include full reviews of disclosure documents or comparisons for conflicts of interest. Consulting reviews/revisions for Forms ADV Part 2A/2B and Form CRS that exceed one hour will be charged at an additional hourly rate. In addition, Consultations regarding and/or customized drafting of new or updated template sections will be applied against budgeted consulting hours and additional hours will be charged at the hourly rate of $285.The hourly rate is not subject to pro-rate for time not utilized.

** This is not a comprehensive review of your registered investment adviser’s compliance program since it is limited in time and scoped to issues disclosed by your registered investment adviser during a one-hour phone consultation our consultant. This service is not a substitute for the firm’s Compliance Program Risk Assessment/Gap Analysis or Mock Regulatory Review Service.

† The typical fee for the Consultant Assisted Services Package – Annual Compliance Program Subscription is $585 per month (5 Consulting hours). Adviser may choose up to an additional 5 hours for $700 per month (10 Consulting Hours) for a year. Some investment adviser firms may require more than the allotted 13 hours for the off-site annual compliance review due to the size and complexity of the investment adviser firm and the services it provides. Solid will provide a discounted additional five hours, if the firm meets the following requirements: At the time of the engagement, clients will select whether they want to engage Solid Regulatory Risk Management Services, Inc. for a 5-hour package or a 10-hour package. Clients will not be able to transition into another package until it is time to renew the package. Before purchasing the Consultant Assisted Services Package 5-hour Consulting Package, please contact us or schedule an introductory call for more details and to obtain an initial quote specific to your investment adviser firm.

*Consultations regarding and/or customized drafting of new or updated template sections will be charged at an hourly rate or applied against budgeted consulting hours.

 

SEC Registrants Full Services Package – Customized Services & Fees

Solid Regulatory Risk Management Services, Inc. can create and implement a customized and more comprehensive compliance program for your registered investment adviser firm. Modeled to fit the needs of most SEC registrants, this package is also ideal for State registrants who are looking for more compliance support. The following are services that Solid Regulatory Risk Management Services, Inc. will tailor for inclusion in your investment adviser’s Annual Customized Compliance Program – Full Services Package. Since the program is tailored to your firm’s specific requirements, the annual fee typically ranges from $12,000 – $34,000 annually depending upon your investment adviser firm and the services you have selected below. The annual fee can be billed in quarterly or monthly installments.

  • Calendar, Reminders, Guidance & Forms. Solid will provide your firm with a dedicated consultant that works with you and your firm to develop a pro-active approach to your compliance program. The consultant will schedule a call to develop a compliance calendar that is tailored to your firm’s needs, provide supervisory reminders, guidance for in-house activities, and forms for the purpose of executing and documenting your registered investment adviser’s supervisory procedures and compliance program. Your consultant will get to know your staff and your firm and provide consulting that is pertinent to your firm’s needs.

  • Compliance Manual, Code of Ethics & Supervisory Procedures. Your firm’s dedicated consultant will annually review, modify and/or update the code of ethics, compliance policies and written supervisory procedures in conformance with the actual business model of your registered investment adviser.

  • Annual Updating Amendment (AUA), Form CRS and Form ADV. The firm’s dedicated consultant will schedule time with your firm’s compliance staff to review your registered investment adviser’s organizational structure, leadership, business model, investment advisory activities, activities of related persons, potential conflicts of interests, regulatory history, current agreements and compliance practices. Your dedicated consultant will revise and update the Form ADV disclosures, including Form CRS, based on such review. After the Adviser’s final approval, the consultant will file all necessary amendments and provide Adviser with submission copies for Adviser’s books and records. Solid will also advise staff on the AUA fees to be uploaded into the IARD (if applicable) and Solid will provide payment instructions (as well as assist with E-Bill) and check that Adviser’s IARD account is fully funded prior to filing.

  • Wrap Program. Your firm’s dedicated consultant will work with designated staff to prepare or revise an Appendix 1 of the Form ADV Part 2A wrap fee program brochure. The consultant will also help compliance staff identify compliance policies and procedures and best practice recommendations for your investment adviser to supervise its wrap-fee program and provided recommended policy language.

  • Solicitor Disclosures. Adviser’s dedicated Solid consultant will assist the adviser in drafting language for solicitor disclosures and provide recommended due diligence/supervisory procedures as well as documents for selection of solicitors, separate solicitor disclosure statement for referred clients, and solicitor disclosure language for Form ADV Form ADV Part 2A.

  • EDGAR Filings. Solid will assist adviser in filing Schedule 13F and 13H with information provided by the adviser. Solid will also provide reminders to adviser to ensure timely filings.

  • Registrations and Licensing. Solid’s team and your dedicated consultant will work with your firm to make filing amendments to Form ADV Part 1, upload of Form ADV Part 2A, Form ADV Part 2B Supplement Brochure, amendments to Form U4 and Form U5 of investment adviser representatives, state notice filings, and annual investment adviser registration renewals through the IARD/CRD systems. Solid will prepare and calculate your registered investment adviser’s licensing renewals as well as provide reminders of important renewal dates. Solid will check that funding has been added to adviser’s account and perform a post registration review in January to determine all registrations were renewed as directed.

  • IAR Registration Analysis. Solid can provide a study of job descriptions, activities and location of associated persons of the adviser and recommend investment adviser representative registration when and where appropriate.

  • Privacy Policy Delivery. Solid will assist firms in reviewing and preparing or updating their privacy policy disclosure.

  • Advertising and Social Media Review. Your firm’s dedicated Solid consultant will analyze advertising materials (including company website or other social media) and provide written comments and recommended revisions in accordance with the advertising standards imposed by the SEC for investment advisers.

  • Email Reviews. Solid’s expert consultants can help your firm maintain compliance with email reviews. If your firm has a third-party email vendor, Solid’s professionals can perform quarterly reviews through lexicon/key words and random samplings and escalate any red flags to the adviser’s designated representative for further review. Solid will generate the third-party reporting to provide reporting for your firm’s books and records requirements. Let Solid help you conserve your resources. Solid will eliminate wasted time looking through countless emails and send only the ones that are pertinent to your firm’s attention.

  • Fee Audit. Looking for help with testing your fee controls? Solid will assist in developing fee audit procedures and provide training or perform a one-time assessment of the investment adviser firm’s current fee audit process and provide recommendations for improvements.

  • Personal Securities Transactions. Solid’s consultant can provide assistance to the firm in reviewing quarterly transactions of person’s the adviser has determined to be access persons. Solid’s consultant will escalate any transactions for further review to the adviser’s designated representative. Solid can also perform a one-time assessment of the quarterly personal securities transactions and annual holding reports reviews conducted by the investment adviser firm in relation to trading recommendations, trading activity and restricted lists of your investment adviser firm. Solid will provide recommendations for improvements in a written report.

  • Annual Compliance Training and Periodic Training. Let Solid do your Annual Compliance Meeting (ACM). Solid will discuss parameters with adviser’s designated representative and tailor the ACM to your firm. Generally, education is provided via a web presentation and the attendance list and ACM materials are provided for your firm’s records. Solid can also be engaged to conduct training for investment adviser representatives and other associated persons through on-site visits.

  • Compliance Committee Meetings. Your firm can contract the Solid consultant to participate (via telephone) in periodic compliance committee meetings of your investment adviser.

  • Consulting. Provide consulting to your investment adviser regarding investment advisory compliance issues on an as-requested basis.

  • Annual Review/Compliance Assessment. The dedicated consultant will conduct a risk-based annual compliance assessment and prepare a report regarding the adequacy of the investment adviser’s code of ethics, compliance policies and supervisory procedures, and the effectiveness of the implementation of such policies and procedures. This review is typically conducted on-site.

  • Risk Assessment and Gap Analysis. Solid believes a risk assessment is key to having an adequate compliance program. Solid’s consultant will review recent regulatory notices, alerts, rule proposals and enforcement actions to identify potential risks for your firm. As well, Solid will prepare guidance in a Risk Analysis Report as to how your firm stacks up as well as guidance in addressing identified risks. This assessment is typically conducted on-site.

  • Mock Regulatory Review. Conduct a mock SEC regulatory review of your investment adviser. Solid will conduct interviews of key personnel and principals of your investment adviser. In addition, Solid will review a sampling of the investment advisory documents likely to be requested by the SEC. Prepare a written report of findings. These reviews are only conducted through an on-site visit.

  • Regulations S-ID Risk Assessment. All financial institutions must undertake a Regulation S-ID - Identity Theft and Red Flags Risk Assessment. The dedicated consultant will prepare the risk assessment and review risks with your adviser’s dedicated representative. In addition, Solid’s consultant will prepare documents that evidence the undertaking of the risk assessment for your firm’s records.

  • Compliance Manual Section Updates. Periodically, Solid Regulatory Risk Management Services, Inc. will release update recommendations for your compliance manual depending upon regulatory activity. Solid Regulatory Risk Management Services, Inc. will notify you when we release new updates and update your manual, where applicable.

  • IT Manual/Data Security Plan. Is your IT Manual and Data Security Plan sufficient? Solid will review your plan and provide comments to enhance or fortify your current plan. Don’t have one? Let Solid work with you to put one in place. Solid also offers a service to annually review your plan.

  • Cybersecurity Risk Assessment. For SEC registrants, annual cyber security risk assessments are required. Solid has consultants that are experienced in this area and will work with designated representatives and your firm’s IT provider in performing and documenting an annual Cybersecurity Risk Assessment.

  • Self-Regulatory Organization (SRO) Regulatory Inquiries and Exam Visits – While adviser, as the registered investment adviser, has responsibility for any regulatory inquiries or visits, your firm’s designated Solid consultant will assist your firm with an initial call to discuss the parameters of the exam and identify specific areas of concern (if possible). Subsequent to this, the Solid consultant will help your firm in understanding production requests made by the SRO, reviewing SRO production requests and providing recommendations to correct any deficiencies noted. Your firm’s dedicated Consultant will also be reasonably available to answer adviser’s staff questions and provide guidance to your firm’s staff during the course of the review. Finally, your dedicated Solid consultant will be available to assist the firm in reviewing its response and offering recommendations towards compliance with the noted deficiency(ies).

Please contact Solid Regulatory Risk Management Services, Inc. to set up an appointment to discuss the specific compliance opportunities and challenges facing your investment adviser firm. Full-Service Programs are tailored specifically to your firm’s needs. We prepare a customized annual compliance program proposal that will meet the needs of your investment adviser firm.

For more details, please call Solid Regulatory Risk Management Services, Inc. at 513-342-0520 or email us at Sales@Solidreg.com to schedule an introductory call.

 
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