Today, we have the privilege of talking to Terria Heng and Shelby Brown, two of XYPN’s Compliance Coaches who together have nearly two decades of experience as examiners and compliance consultants.
Terria and Shelby discuss with us their recommended approach to compliance, the time commitment required to ensure you’re creating a culture of compliance within your firm, and several other compliance considerations that keep RIA owners up at night. They give great advice like how to trust your instincts, and they deliver valuable insight into how regulators and examiners approach their jobs. They discuss the required compliance changes involved when you add a teammate, approach SEC registration, or make a considerable mistake. Terria and Shelby’s perspective on compliance is refreshing, and you can’t help but absorb some of their energy and passion for all things compliance.
If you’re interested in how your compliance responsibilities will evolve as your scale your firm, this show is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- Terria and Shelby’s backgrounds and what they bring to XYPN (00:02:56)
- The importance of creating a culture of compliance (00:08:39)
- What sort of time commitment compliance requires and how it changes for a solo advisor (00:12:59)
- The ideal relationship to have with your regulator and why they don’t give advice (00:22:14)
- The differences in compliance rules between states (00:26:32)
- Ways to avoid the commitment that compliance requires (00:32:06)
- Essential phrases to know in the world of compliance (00:39:22)
- The different types of careers within and surrounding the world of compliance (00:40:23)
- Shelby and Terria’s final pieces of advice in regards to compliance (00:44:39)
Featured on the Show:
- Shelby Brown: Advisor Blog | LinkedIn
- Terria Heng: Advisor Blog | LinkedIn
- CERTIFIED FINANCIAL PLANNER™
- XYPN Compliance
- XYPN Member Forums
- XYPN Blog - Compliance
This Episode is Sponsored By:
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