Major Concern: Advisors are simply not billing in accordance with the terms in their Form ADV
On April 12th, the Office of Compliance Inspections and Examinations released a 4-page risk alert detailing the most frequent issues with advisor fees and expense compliance. We encourage you to review the alert on their website provided below. We also want to assure you BillFin is the solution to the concerns they raise. Please read Redi2’s statement below the link for some peace of mind regarding your fee billing practices when using BillFin. The major concern expressed in the risk alert is that advisors are simply not billing in accordance with the terms in their Form ADV and other materials that are provided to their clients. The most frequent compliance issues they list are outlined below.
Conveying professionalism to your clients
Fees and billing are one of the most sensitive touch points within the advisor-client interaction. When your clients receive their statement of fees, direct debit notice, or invoice there is a moment of truth when the value of your services gets assessed.
DOL Rule & Scalability - Drive Decision
Redi2 Technologies, the premier provider of hosted fee billing and revenue management solutions to the global financial services industry, announced its integration with FolioDynamix, a leading wealth management technology solution provider.