Chief compliance officers help drive growth at RIAs (Really!)
December 29, 2019
Mindy Diamond Mentioned
By Matt Sonnen
PFI Advisors continues to tout the benefits of professional management for RIAs. As Rich Gill of Wealth Partners Capital Group recently stated on the Mindy Diamond on Independence podcast, the first two non-client-facing executive-level hires for RIAs are typically the chief operating officer and the chief compliance officer. The COO is brought in to “…make sure the trains are running on time,” he said, while the CCO is hired to “de-risk the business.”
In our opinion, both roles are needed if an RIA is going to reach its organic and inorganic growth goals.