Interviews Knoxville Startups

Smart RIA Makes Compliance For Investment Advisors Easier

Knoxville Startup, SmartRIA Is Automated Compliance For Investment Advisors

Smart-RIA-top Smart RIA Makes Compliance For Investment Advisors Easier

As with many industries, the investment advisement industry is turning a corner. As more and more millennials are graduating into the work force and becoming investment advisors, the need for technology and tools has grown. In previous years, one may  have become an investment advisor and read countless books to keep up with regulations, laws and compliance issues. More and more studies are showing people are far more screen smart than book smart. That, and as compliance issues and regulations change, they’re updated on web based platforms, giving today’s investment advisor access with a click.

Smart-RIA Ventures and their product Smart-RIA is a compliance tool for Registered Investment Advisors (RIA). The platform allows them to be fully compliant with federal and state regulations governing their dealings with investment and wealth management clients.

Founder Roger Kiger spent decades as a wealth advisor so he knows the ins and outs of the industry as well as how wealth managers and investment advisors will actually utilize the platform.

“The registered investment advisor (RIA) industry has had fewer technological advances than most other verticals in the financial services industry. Professionals in this industry find themselves attempting to manage the most complex aspects of their business with spreadsheets and email.” Mac Bartine, the company’s CEO, told in an interview.

Kiger had the tool developed in house for his investment firm. After that though, he didn’t just wake up and decide to start selling it to competitors. He used his own software to not only survive an audit but to score perfectly. The auditor suggested that Kiger could sell the tool to others.

“Our founder Roger Kiger was spending half of his average day in 4 or 5 different software programs, all of which used the same data, and none of them were helping him to manage compliance. He wanted to spend less time in and money on software, and have it manage his compliance, too. Shortly after the initial software he developed for his own use was complete, his firm was audited by the State of Tennessee. The result took 1/5 of the time the auditor told him it would take, and it was one of 4 zero deficiency audits the auditor had ever conducted. After Roger received his audit results letter from the state, his auditor called him to say that the industry needed his software, and he should make it available for sale. That’s why Smart RIA was born.” Martine said.

If you’re an investment advisor looking for a great tool you should check out Smart-RIA here.

We’ve been talking a lot about Collision 17, but the other great startup conference in the south is 36|86, you’ll be able to find Smart-RIA in the Village 36 startup exhibition in Nashville starting June 4th.


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