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July 25, 2016 at 02:12 PM
Providing compliance advice and services is table stakes for today’s advisors. How do you build a compliance practice and should you create it in-house or contract it out?
On this week’s episode of ShiftShapers, we chat with Peter Lewenson, founder and president of Compliance Bug, who has 20 years of experience with regulated industries including health care, financial services, insurance and employee benefits. Peter believes what while compliance is a complicated field, it is a strategic conversation that businesses must be having.
We explore how compliance can be both a prospecting and a client retention tool. We ask Peter about the pros and cons of building an in-house practice or whether a single advisor should try to go it alone. Peter says that there can be significant liability for the advisor as well as for clients and suggests methods to mitigate that exposure.
