Posts by Essential Edge Compliance Outsourcing Services, LLC

Welcome to the fifth edition of Nightmare on Compliance Street. This is where I leverage my more than 30 years of experience in compliance and supervision in the financial services industry to address some of the scariest and challenging compliance questions submitted anonymously by Wealth Solutions Report readers.  I receive a large volume of queries…

Welcome to the fourth edition of Nightmare on Compliance Street, where I leverage my more than 30 years of experience in compliance supervision and expert witness testimony to address the scariest and toughest-to-answer compliance questions submitted anonymously by Wealth Solutions Report readers.  Let’s get started with this week’s questions! Question 1: Do I Need to…

Foreside Financial Grouphas acquired Hardin Compliance Consulting, the firm announced Tuesday. This marks the seventh compliance consulting firm that Foreside has bought since 2019, and its eighth acquisition overall during that period. With the purchase of Hardin, Foreside becomes one of the largest compliance consulting firms in the U.S., according to Tuesday’s announcement. Financial terms…

The annual program honoring individuals and business initiatives that help financial advisors better serve their clients will be held in person in New York City on Sept. 9. The “Wealthies,†WealthManagement.com’s annual awards programs honoring individuals, organizations, and companies that help financial advisors build better businesses and create better outcomes for their clients, is back and in person…

Can Clients Co-Sign Loans For Advisors?  And Beware of Unauthorized Crypto Investing. Since the launch of Nightmare on Compliance Street, I’ve had lots of emails from Wealth Solutions Report readers, and I’d like to say, thank you so much for submitting your questions.  We have two questions this week to go over. So let’s get…

RegTech Firm Smarsh Emphasizes Urgency for Getting Ahead of New Burdens Crypto is on a roll across the wealth management space, as Wall Street financial institutions, independent broker-dealers and RIA firms increasingly explore how to offer crypto-based financial products and strategies. Jeff Nash, CEO of BridgeMark Strategies, a national consultancy focused on the wealth management…

My name is Sander Ressler and I have over 30 years of experience handling compliance and supervision issues.  At “Nightmare on Compliance Street†we address questions submitted anonymously from our readers that are escalating their anxiety levels. The reason we call this segment “Nightmare on Compliance Street†is that many of the issues handled by…

One of two spouses tells her financial advisor to immediately liquidate and transfer all joint investment assets to a bank account of her choice – And the advisor can’t confirm whether the husband is on board with this. Welcome to Nightmare on Compliance Street! My name is Sander Ressler, and this is my monthly column…

Conor Delaney, CEO of Good Life Companies, a Reading, PA-based independent hybrid registered investment adviser (RIA) firm with $6 billion and 200 licensed financial professionals, vividly remembers when the global COVID-19 pandemic reached America in March 2020. “It was clear the country was facing a serious public health crisis that would require a transformation in…

For Sander Ressler, Managing Director of Essential Edge Compliance Outsourcing, a compliance supervision consultancy for the wealth management space, the Reddit-fueled surge in GameStop’s share prices towards the end of January was a memorable time for his firm. “My phone started ringing off the hook, with some calls from in-house counsel and compliance executives with…