Compliance company SmartRIA secures strategic investment

Compliance company SmartRIA secures strategic investment

Compliance management software provider SmartRIA has closed a second strategic investment from Dynasty Financial Partners and MarketCounsel.

The size of the investment was not revealed.

SmartRIA believes the deal underscores the partnership between the companies and reinforces their commitment to supporting SmartRIA’s continued expansion into enterprise compliance management.

Through the partnership with Dynasty and MarketCounsel, SmartRIA has curated a list of new enterprise functionality that is specifically designed to meet the need of compliance requirements within large organisations.

With the equity, SmartRIA plans to accelerate the development and implementation of enterprise functionality that addresses the needs of large financial institutions.

SmartRIA offers an all-in-one compliance platform for RIAs. Through a dashboard, compliance teams can get a holistic view of the firm’s compliance calendar. It also allows them to keep track of compliance workflows and procedures.

MarketCounsel president and CEO Brian Hamburger said, “RIAs continue to navigate an increasingly complex regulatory and risk landscape and the best firms are committed to comprehensive solutions that pair cutting edge technology with domain human expertise to protect their firms.

“SmartRIA’s innovative compliance management application and their renewed focus on strategic partnerships has created peace of mind for our RIA member firms while making compliance more collaborative and operationally efficient. We are excited to continue our collaboration with SmartRIA and support their growth as they expand their capabilities.”

As part of the investment, Dynasty head of corporate development Sam Anderson will join the SmartRIA board of directors.

In 2019, SmartRIA acquired Greytwist Data Governance for an undisclosed amount. Greytwist is a solution vendor for due diligence and management, personally identifiable information (PII) data governance and cybersecurity policy and procedures management and oversight.

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