Your compliance excuses are bu!!$h!t


Last Updated on April 25, 2024 by Connor Prendergast

Your compliance excuses are bu!!$h!t

A former SEC examiner told me so.

He said at most firms compliance is either
a) An excuse or
b) Control

If you’re an independent it’s a)

→ If you’re working for a
→ Firm that blocks you
→ At every turn, it’s b).

But if you don’t move firms, it’s back to a).

So compliance is almost ALWAYS an excuse not to
↳ Do more marketing.
↳ Learn or change technology.
↳ Communicate more with clients.

→ The need for compliance is real
→ But at most firms it should
→ Just be called Control.

When you remove the fear, being compliant is pretty simple it turns out.

→ Do the right thing for the client.
→ Record everything and be able to reproduce it.
→ Follow a few rules on process, depending on your state/SEC.

Anyone who tells you any different is full of $h!t

→ But the worst part is
→ The industry itself uses the
→ Scary headlines to sell you things.

Ideas – Consulting – INACTION

You see the less you understand and think for yourself,

→ The more you
→ Depend on them
→ And buy from them.

→ F.U.D. (Fear, Uncertainty, Doubt)
→ Still sells, unfortunately.
→ Think for yourself.

And move your business forward.

So go ahead and:
↳ Communicate by text – But keep records.
↳ Use technology and even AI – But Don’t share PII.
↳ Use media to get your message out to prospects. – But be smart

And if your firm complains and you’re doing all the right things.

Move on.

How has compliance been used to hold you back?


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