As a registered investment advisor, your RIA compliance requirements include at least annually that you test your policies and procedures to be certain they are still appropriate and applicable for the size and scope of your investment advisory firm. Your testing should also help detect any potential conflicts and risks within your business model. The testing method for this requirement is flexible so that the Advisor may develop a plan that best meets the needs of your firm. However, I often hear from Advisors that it is somewhat difficult to even start the process of testing without guidance on what to consider, what to document, how do you test, etc. If you find yourself feeling the same way, consider contacting Registered Advisor Services today and let us help you determine the most appropriate method and documentation for your business model to meet the RIA compliance requirements of Rule 206(4)-7.
