The SEC has been on an examination streak, boosting the number of audits by an incredible 137% Over the past six years, the SEC has been on an examination streak, boosting the number of audits by an incredible 137%, according to their 2018 fiscal year annual report. In 2018, the SEC’s Office of Compliance Inspections and Examinations (OCIE) audited 17% of RIAs (2,312 firms), which is more than double the 8% audit rate in 2012. One area that regulators have been paying special attention to is billing practices. The SEC has issued multiple letters stressing that billing operations must now be held to higher standards. The U.S. Department of Labor (DOL) has also chimed in, demanding that industry participants focus on providing fee transparency to clients.
Independent Financial Partners Selects Redi2 for Fee Billing, Revenue Management Solutions Independent Financial Partners, an SEC-registered investment advisor, and soon-to-be broker-dealer, has selected Redi2 Technologies as their provider of hosted fee billing and revenue management solutions. Redi2 delivers a number of services through their Wealth Manager Enterprise solution to IFP advisors, including simplified client billing, transparent fee disclosures, an enhanced online experience and much more. At the core of their technology, Redi2 strives to improve each client interaction through quality design and a progressive software development life cycle.
BillFin Support Center and Knowledge Base are available to support customers 24/7. The long-anticipated BillFin Support Center is live! Our new BillFin Knowledge Base is a collection of easy to follow articles/instructions to solve the most commonly occurring challenges our customers face when using BillFin. These instructions are easy to find via the search functionality within the Knowledge Base making it easier for you to have the answers you need right at your fingertips. And best of all, these articles are available in the Knowledge Base 24/7 so you get the information you need when you need it.