Compliance should be an advantage, not an obstacle.
As financial advisers, you’re focused on delivering exceptional advice to your clients. But let’s face it: Compliance can sometimes feel like a roadblock rather than a resource.
However, when approached strategically, compliance can become a powerful ally in your practice — not just a box to check.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
CLICK FOR FREE ISSUE
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail.
Profit and prosper with the best of expert advice – straight to your e-mail.
At Advisors Excel, we’ve learned that the key to making compliance work for everyone lies in collaboration. While our experience at AE Wealth Management provides a useful example, the principles we’ve developed while working closely with our advisers can apply to any financial firm.
Kiplinger’s Adviser Intel, formerly known as Building Wealth, is a curated network of trusted financial professionals who share expert insights on wealth building and preservation. Contributors, including fiduciary financial planners, wealth managers, CEOs and attorneys, provide actionable advice about retirement planning, estate planning, tax strategies and more. Experts are invited to contribute and do not pay to be included, so you can trust their advice is honest and valuable.
By fostering strong partnerships with your compliance teams, you can create an environment where compliance supports your initiatives, not stifles them.
Collaboration: The foundation of compliance success
Compliance isn’t just a back-office function; it’s a team effort. Financial advisers and compliance professionals need to work together to help ensure that regulatory requirements are met without disrupting the adviser-client relationship.
Open communication is the cornerstone of this collaboration. Regular compliance meetings, workshops and training sessions can help keep advisers informed about policy changes and regulatory updates.
Just as importantly, compliance professionals must ensure that advisers know exactly whom to contact when they have questions or need guidance.
Compliance teams also must be open to feedback from advisers, remembering that collaboration is a two-way street. Policies that are too complex or impractical can hinder advisers’ ability to serve their clients effectively.
By inviting advisers to share their concerns and suggestions, compliance teams can create policies that are effective, realistic and user-friendly.
When advisers feel heard and supported, they’re more likely to embrace compliance as a partner in their success rather than a hurdle to overcome.
Transparency: Building trust through openness
Trust is the bedrock of any successful relationship, and the adviser-compliance relationship is no exception. Transparency is essential to building that trust.
At AE, we prioritize transparency by openly sharing compliance policies, regulatory updates and even audit findings with our advisers. This openness helps advisers navigate the regulatory landscape with confidence and encourages them to proactively address potential compliance issues before they escalate.
Transparency also extends to our interactions with regulatory bodies. By maintaining clear and honest communication, we demonstrate our commitment to doing things the right way.
Advisers play a critical role in this process by adhering to documented procedures and upholding the firm’s reputation for integrity.
Education: Empowering advisers to excel
The phrase “knowledge is power” may seem cliché, but this axiom is especially pertinent when it comes to compliance. Advisers who understand the “why” behind compliance requirements are better equipped to meet those standards and more inclined to integrate them into their daily practices.
Interested in more information for financial professionals? Sign up for Kiplinger’s new twice-monthly free newsletter, Adviser Angle.
That’s why ongoing education is a priority. At AE, we develop training programs tailored to specific regulatory challenges advisers face. These programs help provide advisers with the knowledge and skills they need to stay compliant while focusing on what they do best: serving their clients.
When advisers feel confident in their understanding of compliance, they contribute to a culture of excellence and trust.
Moving forward together
The relationship between financial advisers and compliance teams doesn’t have to be adversarial. By working together, prioritizing transparency and investing in education, we can turn compliance into a strategic advantage — one where everyone benefits.
Advisers feel supported, compliance teams thrive, and clients receive the high-quality service they deserve.
Whether you’re part of a large RIA or an independent practice, these collaborative principles can help you navigate the complexities of financial regulation while building trust and driving results.
4883036 – 11/25
Related Content
This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.
TOPICS
Adviser Intel
Adviser Angle
