HLB Gross Collins, P.C.’s RIA Surprise Exam Expertise

Complete our questionairre to find out if you are requried to have a surprise exam.

HLB Gross Collins, P.C. has extensive experience regarding the compliance and operational issues facing Registered Investment Advisors.  We are fully committed to continually educating ourselves on the ever changing regulations for  RIAs.  We welcome the opportunity to safeguard your firm in the implementation of new policies and procedures.

Our RIA Surprise Exam expertise and service is unmatched in the industry.  HLB Gross Collins, P.C. is at the forefront of our industry in understanding the new requirements placed upon RIAs. We have an educated team of experts who have unique knowledge and insight into the new guidelines.  In all areas of service that we provide, we are dedicated to staying ahead of the game in order to help our clients be proactive rather than reactive where compliance issues are concerned.  Because of our commitment to staying abreast of this critical SEC rule change, we are in a unique position to assist RIAs in evaluating their applicability to the new rules. Additionally, our exceptional level of understanding of this allows us to provide the necessary surprise examination with maximum efficiency and minimal interruption of business operations.

HLB Gross Collins, P.C. is registered with the SEC to provide audit and assurance services to publicly traded organizations. Our team of professionals is equipped with the expertise and knowledge to assist clients in complying with the requirements of the SEC.

Below is a summary of the new guidelines and how they may affect your RIA firm. However, you can visit our website for additional information and a simple questionnaire to find out whether these new regulations affect you.  HLB Gross Collins, P.C. is the premier firm providing services in this field and we are ready to assist you.

About Annual Surprise Examinations & The Custody Rule

On December 30, 2009 the SEC published the final rule changes to custody and recordkeeping requirements under the Investment Advisers Act of 1940.  The amended Custody Rule (with limited exemptions) requires advisers with custody of client assets to undergo a surprise examination of those client assets by an independent public accountant.  No exemptions are provided for advisors who have custody through trustee or executor relationships. The amendments are designed to provide additional safeguards for client assets when a registered adviser has custody of client funds or securities.  This will significantly impact the custody practices of many private investment funds and their managers by requiring an annual surprise exam or audit by a certified public accountant.