Compliance, by its very nature, is an ever-changing landscape. Laws and regulations evolve, new requirements emerge, and staying ahead of the curve is important. However, contrary to popular belief, compliance need not be intimidating and overwhelming. With the right resources, creativity, and a proactive mindset, navigating this dynamic landscape can become achievable, ensuring that organizations can operate within the boundaries of the law while fostering growth and success.

In this episode, Mac talks with Tiffany Chamberlain, Founder and Managing Director of Polaris Compliance Consulting. Tiffany started Polaris Compliance Consulting with almost 20 years of experience in accounting, audit, and compliance in the financial services industry. As a former NASD (now known as FINRA) regulator and "Big 4" advisory consultant, she has audited and advised over 350 broker-dealers and registered investment advisors. Tiffany advises clients on the latest regulatory developments, such as form ADV filings, customer disclosures, custody, and advertising, and assists clients in implementing policies and procedures designed to comply with the rules and regulations.

Having the valuable experience of being on both sides of compliance, first as a former regulator and second as a senior compliance officer, Tiffany talks about how creativity applies to compliance, what it's like to interact with regulators, and the most common compliance issues advisors face.

Key Takeaways

• [01:06 ] - An introduction to Tiffany Chamberlain and Polaris Compliance Consulting.


• [01:58 ] - The role of creativity in Tiffany's life and work.


• [03:58 ] - The kind of creativity Tiffany appreciates and enjoys.


• [06:50 ] - What communities Tiffany is involved in on a daily basis.


• [08:09 ] - What it's like to interact with regulators.


• [10:26 ] - How the regulatory environment has changed over time.


• [11:54 ] - The most common compliance issues advisors face.


• [14:18 ] - Why senior investors are a hot topic these days.


• [17:45 ] - How fund classes are handled in terms of compliance.


• [19:17 ] - The number of firms Polaris works with.

Quotes

[02:41 ] - "When I think of creativity, it's how we can streamline things. It's how we can make our services easier and more accessible to our clients and figure out the best way to deliver compliance in the most pleasant way possible." ~ Tiffany Chamberlain

[11:20 ] - "Regulators love to see firms utilizing RIA software resources. It shows that the firm cares, they take it seriously, and that they're respectful of compliance." ~ Tiffany Chamberlain

[20:25 ] - "Compliance is an ever-changing environment. Everyone needs to stay up-to-date and always be prepared. It's not something scary. As long as you have the right resources in place, it's easy to navigate." ~ Tiffany Chamberlain

Links 

• Tiffany Chamberlain on LinkedIn


• Polaris Compliance Consulting

Connect with our hosts

• Smartria


• Mac on LinkedIn


• Rebekah on LinkedIn

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Learn more about Smartria

Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.