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Products May 12, 2014
Lexington Unveils RIA Registration Service
Compliance consulting firm Lexington Compliance launched a registered investment adviser (RIA) registration service to help clients establish and manage new independent financial services firms.
Reported by John Manganaro
Lexington Compliance, a division of RIA in a Box, says the registration services will serve as a one-stop solution that can formalize and streamline the entire RIA firm start-up process. Registration clients will receive assistance on regulatory compliance with customized form creation and filing; personalized compliance manual and advisory agreements; ongoing post-registration compliance support; and access to the MyRIACompliance.com compliance management solution.
The service also includes an in-depth consultation on key technology systems and customer relationship management (CRM) capabilities. Lexington consultants assess firms in the areas of portfolio management and performance reporting, financial planning, electronic document management, email communications and social media usage. Other services include a consultation with a certified public accountant, legal expert consultation, paperwork assistance, strategic partner access for business financing and errors and omissions insurance.
“Our service enables new RIA firms to set up their operations in an efficient, compliant and worry-free manner,” explains Steven Drachman, director of registrations for Lexington Compliance. “We will help support the process of turning the desire of starting a new firm into an exciting reality.”
The premium registration service begins at $10,500. Customized price quotes will be based on the location of the firm, the number of jurisdictions requiring registration and the number of individual investment adviser representatives. For more information, visit www.lexcompliance.com.