ACA ramps up regulatory support for wealth firms

The provider of governance, risk and compliance solutions has unveiled a dedicated practice group for wealth managers.

A provider of governance, risk and compliance solutions is sharpening its focus on the wealth space with the launch of a new dedicated practice group.

ACA Group has unveiled its new wealth practice group, ACA Wealth, which builds on its commitment to helping wealth managers address their regulatory obligations while addressing their clients’ diverse needs and service expectations.

By bringing together a team of expert consultants to the wealth community, the company expects it will be better able to help its clientele of nearly 2,000 wealth firms.

“Our goal is to provide unparalleled expertise and tailored support to help wealth managers meet their regulatory obligations while simultaneously protecting their firms from potential risks,” ACA Group CEO Patrick Olson said in a statement.

The firm is launching its wealth-focused governance, risk and compliance practice after a string of moves to build up its talent pool and resources over the past two years.

In addition to a merger with Foreside, it’s struck deals to acquire several other players, including Cipperman Compliance Services, Advanced Regulatory Compliance, and Alaric Compliance Services, among others.

Among other services, ACA Wealth will help firms register new investment advisers, offer comprehensive compliance programs – including an optional outsourced chief compliance officer service – hold mock regulatory exams, and conduct assessments and monitoring cyberthreats.

The practice group will also provide outsourced managed services to handle daily compliance activities and utilize ACA’s ComplianceAlpha RegTech solutions platform to help wealth managers streamline their compliance activities in the face of mounting expectations from regulators.

“With ACA Wealth, we offer a unique blend of regulatory compliance, managed services, cybersecurity, and technology expertise to provide peace of mind to our wealth management clients,” ACA Group global advisory leader Carlo di Florio said.