Joot Interview Series - Episode 5

Nov 19, 2019 11:30:00 AM Podcasts Mark Baltimore Interview

Welcome back to our second Joot interview.  We’re excited to continue delivering helpful content and thought leadership to you. This week’s edition is Part 2 of 2 (about 15 minutes).  You can listen to Part 1 here. In this episode, Bo Howell, CEO of...

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Joot Interview Series - Episode 5

Nov 19, 2019 11:30:00 AM

Welcome back to our second Joot interview.  We’re excited to continue delivering helpful content and thought leadership to you. This week’s edition is Part 2 of 2 (about 15 minutes).  You can listen to Part 1 here. In this episode, Bo Howell, CEO of Joot, speaks with Mark Baltimore , Co-CEO of Global Rhino.  They discuss trends in distribution and what asset managers should expect over the next fi...
 

Joot Interview Series - Episode 4

Nov 12, 2019 12:00:00 PM

Welcome to our second Joot interview.  We’re excited to continue delivering helpful content and thought leadership to you. This week’s edition is Part 1 of 2 (about 15 minutes). In it Bo Howell, CEO of Joot, speaks with Mark Baltimore , Co-CEO of Global Rhino , about why distribution is so hard to get right, why distribution is not just sales, and the steps that asset managers should take when dev...
 

Rise of the machines, Part 1: How increased automation in financial services impacts society

Nov 7, 2019 1:00:00 PM

Introduction By Bo J. Howell Recently, I read some articles in The Economist newspaper that talked about the increasing use of computers in asset management. While the topic is not new to those of us in the industry, I thought of our recent intern, John Simmons, who is graduating from Xavier University next month and is focused on becoming a portfolio manager. I wondered what skills does John need...
 

Joot Expands its Compliance Team

Nov 4, 2019 10:43:00 AM

We are excited to announce the newest addition to the Joot team: Charles Black! Charles brings over 17 years of experience in the asset management industry, including roles in compliance, fund accounting, and fund administration. Charles has served as a compliance officer for both investment advisers and investment companies. Most recently, he served as the Chief Compliance Officer for a few mutua...
 

Testing 1-2-3

Oct 25, 2019 1:00:00 PM

Having the right policies and procedures in place is a key component of an effective compliance program but it’s only part of the equation. Maintaining consistent adherence to these policies and procedures is equally important. One of the things our customers have asked for is a more efficient and automated way to do this. That’s why we are excited to announce the official release of our Testing M...
 

10 Tips to Avoid Pay-to-Play Restrictions

Oct 17, 2019 11:15:00 AM

I recently attended a panel discussion designed to provide tips to stay on the right side of pay-to-play requirements. Asset managers that manage investments of public entities (primarily state and local municipalities and their agencies) need to avoid the strict liability standards that are triggered by crossing the line.  Of course, the panel started with an overview of SEC Rule 206(4)-5 and sim...
 

Compliance Testing Programs - Part 2: The bottom-up approach to building your compliance program.

Oct 10, 2019 11:30:00 AM

In part two of our panel recap where we discussed compliance testing programs for small and medium-size firms, we zero in on the foundation. (If you missed part one: a top-down approach, you can find it here.) Flipping the top-down approach that we discussed las week, we began to look at critical components of the business and how to review and test your procedures effectively. The following are s...
 

Joot Interview Series - Episode 3

Oct 8, 2019 11:15:00 AM

Welcome back to the conclusion of our interview between Bo Howell and Cynthia Custer.   (You can hear Part One or Part Two here.) In Part 3 (about 10 minutes), we dive deeper into issues related to share class selection and talk about: Best execution factors that go beyond price.  Third-party money managers: Who’s responsible for best execution? How Joot digitizes compliance for RIAs.  Why the fut...
 

Compliance Testing Programs for Small & Medium Firms - Part 1

Oct 3, 2019 11:19:00 AM

PART 1 - The Top Down Approach I had the good fortune to participate in a compliance panel with esteemed adviser CCOs in which we shared our lessons learned about building and maintaining effective compliance testing programs from top to bottom.  To avoid drinking from a fire hose, I will cover the nitty-gritty details in a two-part blog, one starting from the top and the other building up from th...
 

Joot Interview Series - Episode 2

Oct 1, 2019 11:15:00 AM

Welcome back to part 2 of our interview between Bo Howell and Cynthia Custer.   (if you missed part one, listen here.) In Part 2 (about 15 minutes), which we’ll post next week, we talk about: Why Cynthia and her firm, Advisory Compliance Solutions, joined the Joot family.  how technology can make SEC compliance easier, improve compliance oversight, and reduce operational costs. Recent trends in SE...
 

A  Fresh Look at Vendor Due Diligence

Sep 26, 2019 12:44:00 PM

By Nick Horvath Vendor due diligence, an oldie… but a goodie.  Vendor due diligence has been a risk mitigation technique since the words Caveat Emptor were first spoken.  But what about today? How much emphasis should your firm place on vendor due diligence? Why should you care? Let us count the ways. Risk identification is increasingly difficult in our global, digital economy Most small firms don...
 

Joot Interview Series - Episode 1.

Sep 24, 2019 11:30:00 AM

Hello, Joot community! Welcome to our first Joot interview.  We’re excited to continue delivering helpful content and thought leadership to you. We had fun recording the interview, and once we've done a few more this may become a podcast.  We hope that you’ll find it helpful.  This week’s edition is Part 1 of 3 (about 15 minutes). In it Bo Howell, CEO of Joot, speaks with Cynthia Custer, Director ...
 

Joot Expands its Compliance Team and Service Offerings

Sep 19, 2019 12:50:00 PM

We are excited to announce the newest addition to the Joot team: John Ramirez! According to Bo Howell, CEO of Joot, the firm has been growing steadily and it is focused on building the right team to deliver both innovative technology and exceptional services. “I am excited to have John join our team. He’s an experienced entrepreneur, talented attorney, and seasoned compliance officer,” says Howell...
 

Q&A: Client Relationship Summary (Form CRS)

Sep 5, 2019 11:45:00 AM

Last week, Joot published an article on Regulation Best Interest and Form CRS (Customer or Client Relationship Summary). We heard from many of our readers about the article and we’re glad it was helpful. Some of you had great questions about the application of Form CRS and the definition of a “retail investor”. Below are our responses to your questions. Keep ‘em coming! Definition of Retail Invest...
 

SEC: Regulation Best Interest

Aug 29, 2019 11:15:00 AM

As many of you know, on June 5, 2019, the SEC passed Regulation Best Interest (Regulation BI) and related rules and interpretations that were intended to enhance investor protection and clarify the difference between broker-dealers (BDs) and registered investment advisers (RIAs). The rule and two final interpretations were over 1,300 pages long, ugh. When I think about reading that many pages of b...
 

Joot discusses FinTech with the Institute for Innovation Development - Part 2

Aug 15, 2019 10:25:00 AM

Note. If you didn’t get a chance to read our FinTech-partnership article that was published by the Institute for Innovation Development (IID), we recommend you start there and then continue on.  In last week’s blog post, we gave you some more color on our discussion with the IID on how financial advisers should partner with FinTech. We discussed how we work with clients to identify their real comp...
 

Joot discusses FinTech with the Institute of Innovation Development - Part 1

Aug 8, 2019 3:00:00 PM

Joot CEO Bo Howell recently teamed up with the Institute for Innovation Development (IID) to discuss how financial advisers should approach FinTech. The article was published on Nasdaq.com and other sites on August 5, 2019. You can read the complete article here. (Do us a favor, if you like the article, please share it on social media. If you don’t like it, please pretend like you do and share it ...
 

Advisory Compliance Solutions Merges with Joot

Aug 1, 2019 3:00:00 PM

Joot grows its team and area of expertise! CINCINNATI, OHIO – August 1, 2019 - Joot, a leading provider of compliance technology and services to small and middle-sized investment advisers, today announced its merger of Advisory Compliance Solutions, LLC (ACS). As part of the merger, Cynthia Lower Custer, Managing Member of ACS, will become Treasurer and Director of Compliance Services at Joot.  “W...
 

Making Things Beta

Jul 25, 2019 4:30:00 PM

There is still some time (but not too much time) to get yourself into the beta program for Joot's NEW Policies and Testing Manager!  Policies and Testing Manager brings it all together by integrating with our SEC Filing Manager, Compliance Calendar, and Document Manager to form a comprehensive solution that helps RIAs manage their compliance processes and documentation. Identify the types of polic...
 

You Beta Believe It!

Jul 15, 2019 9:53:00 AM

It’s summertime, and it's hot, very hot! But here at Joot, we’ve been working on some pretty cool things, and today, we’re announcing the launch of our beta program for the latest addition to our CCO Tech compliance platform: Policies and Testing Manager! (We’re considering a cooler name for this great tool, so if you have suggestions, leave a comment below. Personally, I wanted to call it Mjöllni...
 

Goodbye CCO Tech, Hello Joot! Why We Changed Our Name

Jul 1, 2019 8:30:00 AM

When my co-founders and I started this company a year ago, our vision was to change the way compliance is done. I knew from first-hand experience the challenges that Chief Compliance Officers face --  increasing regulatory requirements leading to greater compliance risk; juggling multiple roles, especially for CCOs in the small- to mid-size firms. We saw an opportunity to apply technology to compl...
 

More Summer Reading

Jun 20, 2019 9:28:20 AM

Last week we published an article about the SEC’s most recent cyber examinations and risk alerts. The week before we noted in our curated articles that the SEC is focused on oversight of technology vendors (like us).  If you still doubt the SEC’s focus on cybersecurity, it’s time for a reality check. SEC News Chairman Clayton just hired badass (because anyone who spends 30 years in the CIA has to ...
 

SEC Cyber-Probe: Round 3

Jun 13, 2019 2:30:00 PM

Recent activity by the Securities and Exchange Commission (“SEC”) highlight its continued focus on cybersecurity. In a Risk Alert issued by the SEC’s Office of Compliance Inspections and Examinations (“OCIE”), the staff highlighted weak controls related to safeguarding customer information in network storage, including third-party providers. As noted in the Risk Alert, some investment advisers and...
 

Curated Articles for June, 2019 (Your Summer Reading)

Jun 6, 2019 9:10:00 AM

Ah, welcome to the hot days of summer, which technically doesn’t start until June 20. But that didn’t stop temperatures around the U.S. from topping 95 degrees last week. Whew! And with that warm, beach weather comes the start of vacation season. So in case you forgot to pack that massive stack of reading material that you’ve been collecting since January, below are some articles for your reading ...
 

If you hate changing your password, then read this article!

May 30, 2019 8:40:00 AM

Do you hate changing passwords? [heads nodding] Does it seem like your company forces you to change your password every other week? [heads nodding; tempers rising] Well good news, the National Institute of Standards of Technology (“NIST”) says you don’t need to change your password until it is compromised, which is like saying you don’t need to lock your door until a burglar has robbed you. Now is...
 

The Most Important Skills for a CCO

May 22, 2019 3:52:00 PM

A few weeks ago, Compliance Week and Seton Hall School of Law published an article that discussed the skills necessary to be a successful compliance officer. For those in the industry, it comes as no surprise that CCOs and compliance officers are increasingly expected to have a multi-disciplinary background. Today’s CCO must be part accountant, auditor, IT professional, lawyer, strategist, writer,...
 

Tone at the Top - Culture of Compliance

May 16, 2019 1:00:00 PM

As Chief Strategy Officer for CCO Tech and Co-CEO of Global Rhino (an affiliated company), I had the privilege of speaking on a panel at a national compliance conference with three esteemed industry colleagues, two in-house CCOs at asset management firms and a consulting expert in the hedge fund space.  As a panel, we focused on “Tone at the Top - Culture of Compliance.” Through decades of experie...
 

Tips for a More Secure Client Relationship: A Commentary on OCIE's Risk Alert on Privacy and Data Protection

May 9, 2019 11:00:00 AM

The SEC’s Office of Compliance Inspections and Examinations (colloquially known as “OCIE” or just the “SEC” to many market participants) recently issued another risk alert. The topic this time was privacy policies under Regulation S-P. Below are examples of the most common deficiencies or weaknesses identified by OCIE staff in connection with the Safeguard Rule. If you have any questions about the...
 

Farewell to our Super Intern: John Simmons

Apr 30, 2019 1:00:00 PM

It’s a bittersweet week for us at CCO Tech. Our super intern, John Simmons, is finishing his spring semester and moving on to an internship at Fifth Third Bank in its Risk Management Leadership Program. We’re excited to see John take the next step in his career and we look forward to seeing him graduate next December from Xavier University, Williams College of Business (“WCB”). John joined us in J...
 

An Analysis of the SEC's Proposed Fund of Funds Rule

Apr 19, 2019 11:00:00 AM

SEC’s Proposed Fund of Funds Rule Simplifies Fund of Funds Compliance, But Creates Liquidity Concerns By John Yoder and Bo Howell For over a decade now exchange-traded Funds (“ETFs”) have become a primary investment for asset managers to gain low-cost access to broad segments of the markets. More recently, ETFs have grown to focus on more niche parts of the investment universe (e.g., sector ETFs, ...