Our friends at www.cloudfunding.co recently wrote a business review on our firm:
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BUSINESS REVIEW
This firm provides outsourced compliance oversight services to Registered Investment Advisory Firms via www.ria-cco.com. These services include state and federally required filings, compliance reporting, oversight and enforcement pertaining to FINRA, SEC and state regulatory requirements.
RIA-CCO is a new company that provides outsourced compliance oversight services to Registered Investment Advisory firms. The firm is a single member managed LLC owned and operated by Sonja R Wall.
Sonja is a FINRA licensed securities principal and Chief Compliance Officer for a Registered Investment Advisory firm. She works with multiple Investment Advisory firms and provides high quality services at competitive rates. Sonja is known for completing tasks ahead of time, being very thorough and for cleaning up messes left by other internal and external compliance oversight personnel. She has over 19 years of experience and has built a strong reputation within the financial services industry.
TRANSPARENCY
The managing member of this firm (Sonja Wall) has provided proof of her FINRA brokerage licenses which establishes her compliance with regulatory organizations. We have also reviewed her articles of organization and FEIN registration documents proving that RIA-CCO is a legitimate business entity and there are no other shareholders, investors or members. The articles of organization, operating agreement and FEIN registration documents have been reviewed. A business bank account has been opened for this entity and verified through Fidelity Investments. State and federal regulations do not require workman’s compensation insurance for this firm.
INNOVATIONS
RIA-CCO is ahead of the curve when comparing with other compliance oversight providers through the use of electronic documentation systems built in to user accounts on RIA-CCO.com. Users can now receive compliance oversight checklists and upload documents for review at their leisure without requiring a lot of time and attention from hired personnel. This saves clients and RIA-CCO time and energy through technology… this means less emails, phone calls and the ability for RIA-CCO to service more RIA firms in less time. This also provides greater transparency and makes audits a breeze for both clients and the firm itself.
COMPLIANCE OVERSIGHT
Sonja is the Chief Compliance Officer for a Registered Investment Advisory firm and with over 19 years of experience in compliance oversight she has a very close relationship with FINRA/SEC/State regulatory compliance requirements. Not only does this give her the ability to assist RIA firms with staying in compliance, it gives her the ability to keep RIA-CCO ahead of the curve and a leader when it comes to new policies, laws and requirements as they are passed by regulatory bodies.
SOCIAL IMPACT
Soni (Owner/Operator) is working with the local school district on a volunteer program that will teach children about financial literacy in schools. She plans to visit schools and will be introduced as a “fun financial friend”. She also plans to work community leaders in organizing and sponsoring events aimed at giving back to those in need within the Henderson/Las Vegas area.
ENVIRONMENTAL IMPACT
RIA-CCO’s has and will promote an increased positive impact on the environment as it implements and encourages other firms to implement electronic documentation systems. In addition, there are no manufacturing impacts, toxic waste or emissions produced buy logistics. RIA-CCO is also an advocate of the utilization of E-fulfillment systems and recycling policies within the workplace. RIA-CCO will also co-sponsor events aimed at keeping Henderson and Las Vegas clean.
FUND ADMINISTRATION
This firm is privately owned and operated by Sonja R Wall as the primary shareholder. There are no state or federal securities filing requirements as there are no other shareholders or investors. This firm has no corporate debt nor private lending arrangements. A business brokerage account has been established through Fidelity Investments. Fidelity Investments is the only financial institution with an account associated with the entity and will serve as the only account used for electronic funds transfers, check deposits, wire transfers and all financial transactions. Jacob Allred is an authorized individual on the account but will not actively participate in managing assets for the firm. Sonja wall is the single managing member for the entity, Jacob Allred is the registered agent on file. Funds are not managed by a CFO or outsourced service provider.
SUMMARY
As this firm has less than 5 employees, is owned/operated by a single shareholder and is not conducting a private placement offering; it been awarded 5 out of 5 stars and given a transparency score of 100% based on the level business documentation provided and requirements by state and federal regulatory organizations.
Jacob Allred
Publisher
09/16/2019
CloudFunding, LLC
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