NEW YORK--(BUSINESS WIRE)--Compliance Risk Concepts (“CRC”), through its parent company, Re-Sourcing Group, has received a significant investment from MidOcean Partners to advance its position as a valued compliance partner to the financial services industry. This investment will support the continued growth of CRC’s unique brand of business-focused compliance and risk management advisory services.

The compliance and risk management industry has evolved in recent years, amid new regulations, rule modifications and heightened government oversight. These changes come amid consolidation in the outsourced compliance space, resulting in fewer options for clients seeking expertise coupled with exceptional service.

CRC has thrived as a provider of senior-level compliance advisory services for financial organizations. The firm delivers expert-driven advice and strategy for its clients, which include broker-dealers, investment advisers, fintech and digital asset firms, banks and credit unions, in helping them navigate the ever-changing regulatory landscape. Recognizing CRC’s strong position in the market, MidOcean Partners, a premier middle-market private equity firm focused on the business services and consumer sectors, anticipates CRC’s continued success in delivering compliance solutions to a diverse clientele.

“Market demand for outsourced solutions in the compliance advisory arena has grown significantly in recent years,” said Mitch Avnet, founder of CRC. “At the same time, consolidation has left clients with fewer premier options. CRC has over 50 senior compliance professionals on our team, and we can deliver the guidance, insight and day-to-day execution support that firms in the financial services market are seeking. We are known for our ‘in-the-seat’ approach to compliance and risk management support, and we plan to leverage this growth investment to extend our reach within the industry.”

The confluence of talent shortages and increasingly complex requirements for managing businesses on the legal and compliance front has led to a continued surge in demand for outsourced solutions. For example, in the investment adviser sector, an estimated 59%¹ of firms outsourced some or all of their compliance and legal work. Avnet and his partners at MidOcean see this as an opportunity for further growth.

Avnet added: “We are business people that know compliance and we are fully invested in helping our clients achieve great commercial outcomes while remaining regulatorily compliant. Our partnership with MidOcean is integral to our overall business thesis and we look forward to leveraging the impact of MidOcean’s investment to extend our reach within the industry.”

“There is incredible upside for a firm of CRC’s caliber to fill the void that firms have in meeting their compliance needs and having the support they want to help them make sound business decisions. We feel that the consolidation happening that has absorbed some boutique players has spurred the opportunity for CRC even more, and we’re eager to see how our investment can be a catalyst for Mitch and his team,” shared Elias Dokas, Managing Director at MidOcean Partners.

¹ Source: https://www.assetmark.com/blog/advisors-front-middle-back-office-outsourcing

About Re-Sourcing Group

Re-Sourcing is a leading professional services firm, offering staffing, consulting and direct hire services that specialize in finance & accounting, legal & compliance and information technology. Re-Sourcing serves clients through its distinguished portfolio of premium brands, including Compliance Risk Concepts, Conexus, JW Michaels, ExecuSource, Perennial Resources, Partnership Employment and Technology Navigators. Founded in 2003, Re-Sourcing and its brands are strategically located in 20 offices across 10 markets nationwide. Re-Sourcing’s differentiated operating partner model enables a strong focus on building direct relationships with clients to bolster retention and deepen understanding of client needs.

For more information, visit https://www.myresourcing.com/.

About MidOcean Partners

MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and manages a series of alternative credit strategies, collateralized loan obligations (CLOs) and customized separately managed accounts.

For more information, visit https://www.midoceanpartners.com/.

The post Compliance Risk Concepts Receives Strategic Investment from MidOcean Partners appeared first on Compliance Risk Concepts.

Due Diligence Works, Inc. (DDW) sat down with Mitch Avnet, Founder and Managing Director of Compliance Risk Concepts, to discuss the evolution of communication, particularly as it relates to texting and social media, and the growth opportunity it presents for Financial Services firms and their Financial Consultants. They discussed the business potential and how best to manage the risks that come with leveraging evolving forms of electronic communication. The following is an excerpt from the interview titled Texting and Social Media with Mitch Avnet. Click here to read the full interview.

DDW: Regular, ongoing communication between Advisors and their clients is key to building and maintaining strong relationships. As styles and methods of communications evolve, it’s natural for both clients and advisors to want to use all of the channels available to them, including ever-evolving electronic and social media options. These options have the potential to better engage clients and make business faster and easier, all of which lead to deeper relationships and potential revenue. Along with the benefits, however, come challenges for firms as they attempt to evolve programs to capture and monitor all lines of communication.

DDW: Of all forms of communication used today, “texting” has become the go-to source for many of us. What trends are you seeing in Advisor/Client communications related to the use of text communications?

Mitch Avnet: The number of firms allowing texting as a method of communication are on the rise. This is due to the fact that (a)clients expect this level of communication and accessibility in the digital age, and (b) archiving and monitoring/management solutions that are out there are continuously evolving. It’s the way people communicate today, and it makes sense that both clients and advisors want to exchange in the same way they communicate in the rest of their relationships. Today’s clients generally want to leverage technologies available to them to make the investment and asset management process faster and more engaging.

ABOUT DUE DILIGENCE WORKS, INC.

Due Diligence Works, Inc. supports RIAs and Broker-Dealers to provide ongoing Due Diligence of investments and insurance products, Product Shelf Management, helping firms review the entire universe of products (not just platform); ensuring firms have the best products on their shelf and can prove it. All in a variable cost and conflict fee model that can bring down cost, improve quality, and stand the test of regulatory scrutiny.

The post Mitch Avnet Discusses the Evolution of Communication with DDW appeared first on Compliance Risk Concepts.

NEW YORK, NY /PRESS RELEASE/ - Building on its leadership position in the compliance professional services sector, Compliance Risk Concepts LLC (CRC) today announced the hire of James (Jim) K. Ryan as Director of Business Development. At CRC, Jim will continue to drive growth and expansion in CRC's core business verticals, which include broker-dealer, investment banking, investment adviser, futures and commodities, financial and operational, research supervisory analyst, digital asset/crypto and technology compliance related services. Additionally, with Jim's leadership, CRC expects to make a big push into the insurance compliance arena in 2019.

"I have known Jim for more than a decade. From the time of our first interaction, I was impressed with Jim's industry knowledge and overall approach toward his business development efforts", said Mitch Avnet, CRC's Managing Partner, and CEO. "Jim builds long term, meaningful strategic relationships. He is truly invested in the right outcomes for his clients, embodying CRC's core values and strategic goals and objectives. We are fortunate to have Jim join our team and looking forward to his long term success at CRC."

During Jim's 15 year tenure at RegEd, he handled sales of the organization's vast portfolio of technology solutions for compliance, training, and licensing management to broker-dealers, investment advisers, and insurance companies. Through his direct contribution, Jim was responsible for approximately $17 million worth of growth for RegEd, establishing lifelong clients in the process. Looking back on his accomplishments, Jim credits his achievements in advocating for the client, building sincere relationships with those he serves, and creating a culture of shared success with his colleagues.

When asked about his decision to join CRC, Jim said "I've known Mitch for many years. We have not only developed and maintained a strong business relationship – but also formed a long-term friendship. I am thrilled to join the leadership team and look forward to my role and contribution in building upon the growth and success of CRC has celebrated since 2013. I cannot wait to work alongside Mitch and the rest of the hard-working compliance professionals in the organization."

James K. Ryan can be reached at jryan@compliance-risk.com or direct dial: (646) 813 7874.

#####

The post James K. Ryan, Former SVP of Sales at Reg Ed to Spearhead Business Development Efforts at Compliance Risk Concepts LLC appeared first on Compliance Risk Concepts.

Join Abel Noser and Compliance Risk Concepts September 5th for the Monitoring and Surveillance Symposium for Broker-Dealers. This afternoon symposium is intended to be a fully interactive session that brings together Senior Level Compliance and Risk Management Executives to engage in the exchange and sharing of ideas, knowledge and various concepts surrounding monitoring and surveillance activities.

Mitch Avnet, Founder and Managing Partner of Compliance Risk Concepts (“CRC”) will act as the facilitator for the event. At the conclusion, participants should be able to:

• Understand and “level-set” organizational readiness at their respective institutions
• Understand the impact of inadequate monitoring and surveillance routines and systems have on Compliance, Technology, Risk Management, and Audit Resources
• Size budgetary impact that monitoring and surveillance requirements will have on organizations at implementation and ongoing support / maintenance
• Understand “common” and “unique” challenges that exist across peer group organizations
• Understand the pros / cons of: “home-grown” solutions, outsourced solutions or a hybrid approach toward monitoring and surveillance activities

DATE:

Date: Wednesday, September 5th, 2018
Time: Time: 3:00 pm - 6:00 pm ET

LOCATION:

Location: The Kitano New York, 66 Park Avenue, East 38th St, New York, NY 10016

AGENDA

3:00-3:15 PARTICIPANTS ARRIVE / WELCOME COMMENTS
-----------------------------------------------------
3:15-4:00 REGULATORY FOCUS ON COMPLIANCE OVERSIGHT OF TRADING ACTIVITIES
-----------------------------------------------------
4:15-4:45 COST OF COMPLIANCE
----------------------------------------------------
4:45-5:00 RECAP OF MEETING AND ACTION ITEMS
---------------------------------------------------
5:00-6:00 NETWORKING EVENT

The post Monitoring and Surveillance Symposium For Broker-Dealers appeared first on Compliance Risk Concepts.

Compliance Risk Concepts, LLC, a business-focused team of seasoned compliance professionals providing top tier compliance risk management services, has launched its new website in honor of its 5-year anniversary.

Mitch Avnet, Managing Partner and Founder of CRC, says, "The launch of our new website has been a significant undertaking to further ensure our clients and followers have a user-centric experience, enabling easy access to our talented team, quality services and timely regulatory and compliance information. We are thrilled with the look and feel of the new site and view this as another significant step in the evolution of our organization."

The improved website builds upon the foundation of CRC's previous website, furnishing a modern layout that improves and optimizes the overall user experience. The website includes aerial video footage of the New York City skyline and team photos in CRC's new state-of-the-art office space at 40 Exchange Place, Suite 402 New York.

Dave Amster, the Principal and Head of Fund and Dealer Advisory, says, "Our new website is the culmination of many hours of hard work to ensure that clients and prospective clients enjoy a user experience that presents meaningful information and content without unnecessary noise. This is just one more step in our steady focus on continually improving our client service." The launch of the new website in conjunction with the recent company move is a tremendous step forward in terms of brand cohesion and CRC's commitment to provide best-in-class professional services to the financial services industry.

Read the full press release

The post Compliance Risk Concepts Launches New Website, Commemorating 5-Year Anniversary appeared first on Compliance Risk Concepts.

TAMPA, Fla., 06/18/2018 -Independent Financial Partners (IFP) has chosen Compliance Risk Concepts (CRC) to implement its broker-dealer filing. The Tampa-based RIA announced on April 6 its separation from LPL Financial in favor of creating its own broker-dealer (BD).

Establishing a BD requires the filing of a New Membership Application (NMA) with the Financial Industry Regulatory Authority (FINRA), which entails a significant investment of time and resources, as well as a deep understanding of the regulatory requirements impacting broker-dealers. IFP set out to find a compliance services organization that could assist in the filing of the application. After conducting its due diligence, IFP decided to move forward with the expert guidance of CRC. IFP anticipates attaining FINRA approval in late 2018 or early 2019.

CRC Founder Mitch Avnet formed the New York-based firm more than five years ago.

“We believe CRC has the deep knowledge and experience required to deftly navigate the New Membership Application process with FINRA,” says Bill Hamm, CEO of IFP. “Partnering with CRC should demonstrate to the industry, and more importantly our advisors, that we are devoting the appropriate resources to help ensure that our broker-dealer will be solidly established while striving for 100 percent compliance from the outset. It is critical to us that our compliance program is primed and fully-operational as soon as the BD application is approved to facilitate a smooth transition for our advisors.”

CRC is a comprehensive compliance partner, offering full outsourced and co-sourced compliance execution services focused on the broker-dealer vertical. CRC’s diverse and robust team of compliance professionals have been engaged to provide critical guidance and services to support the important transition to becoming a broker-dealer. Upon receiving approval from FINRA, CRC will provide ongoing compliance support to IFP for a period of time, further ensuring seamless integration for IFP’s advisors and clients.

Avnet and the team at CRC are excited to work with a technology-focused firm like IFP.

According to Avnet, “I’ve gotten to know Bill and IFP over the past several months and I can say they are truly looking forward to creating a broker-dealer of the future. We will partner with IFP to build a compliant infrastructure that is powered by advanced technology. I am beyond thrilled that they chose CRC to embark on this exciting journey.”

About IFP

Family-owned and privately-held since it was founded in 2000 by CEO William Hamm Jr. on the principals of independence, flexibility and collaboration, Independent Financial Partners (IFP) is a comprehensive financial advisor support firm with home/corporate offices in Tampa, Florida, and Phoenix, Arizona. It is dedicated to delivering personalized service to a growing network of more than 520 independent advisors nationwide, allowing them to better focus on the needs of their clients.

An SEC Registered Investment Adviser (RIA) and an Office of Supervisory Jurisdiction (OSJ), IFP works directly with its advisors to provide them technological, compliance, marketing, business development, and operational support. As of Dec. 31, 2017, IFP’s advisors have more than $40 billion in assets under advisement. The firm has annually earned the trusted CEFEX certification for support services for adhering to the industry’s best practices since 2014. For more information, visit www.ifpartners.com. Follow the firm on Twitter at @IF_Partners.

The post IFP Selects CRC For New Broker-Dealer Filing appeared first on Compliance Risk Concepts.

Sterling Talent Solutions and Compliance Risk Concepts invite you to join us on Wednesday, June 13th for the Sterling Financial Services Summit: Human Capital and Compliance - Bridging the Gap.

This afternoon thought leadership session will include Financial Services Executive from Human Resources, Talent Acquisition and Compliance.

Date: Wednesday, June 13, 2018
Time: Time: 12:30 pm - 6:00 pm ET
Location: Grand Hyatt New York, Regency Room

Mitch Avnet, Compliance Risk Concepts founder and managing partner, joins "Know your employee – ongoing rep and disclosure monitoring" Fireside Chat with Former FINRA Chief of Enforcement, J. Bradley Bennett, now a Partner in the White Collar practice at Baker Botts.

Please feel free to share with colleagues who may benefit from this event, and don’t hesitate to reach out with any questions. We hope you will be able to join us!

The post Sterling FinServ Summit: Mitch Avnet Joins Fireside Chat with Former FINRA Chief of Enforcement, J. Bradley Bennett appeared first on Compliance Risk Concepts.