Compliance11,Inc., a Chicago-based provider of compliance software and automation tools, was recently acquired by the Charles Schwab Corporation. The acquisition was announced in a November 16 press release you can read on Businesswire.com.
I reviewed Compliance11 in a recent column for Morningstar Advisor, Say Goodbye to Paper-Based Compliance Practices.
After speaking with Tad Mitchell, now VP of Compliance11 at Charles Schwab, I was very impressed with the depth of features offered by the platform. Knowing what it takes to monitor employees’ personal securities trading, update repetitive compliance tasks, and run reports of compliance activity, Compliance11 seems like a no-brainer purchase for growing advisory firms.
If you are still manually collecting portfolio holdings and trading records from employees, stop, and investigate how Compliance11 might save you not only money, but a bunch of your CCO’s time. And the icing on the cake is that advisers who custody with Schwab might get a great price on the Compliance11 platform.
