Ep #270: Scaling Your Compliance Program
August 26, 2020
We’re honored to welcome Scott Gill, XYPN Senior Compliance Consultant, and Abby Morton, an XYPN member and partner of Goldman Financial Planning, a fee-only firm out of Maine, on the show today. Through XYPN’s Compliance Coaching Program, Scott and Abby have been able to work together to help Abby scale her compliance program as she continues to grow as a firm owner.
Join us as we talk about Abby’s specific compliance needs as she’s grown over the years, but most specifically, her looming SEC registration. We discuss how Scott and Abby have been able to implement a culture of compliance within her firm that has her focusing on compliance for only certain days and times each month. Along with helping Abby gain confidence and experience with her processes, Scott has helped her not fear an audit.
If you're interested in how you can scale a compliance program within your growing firm, this episode is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- An introduction of Abby Morton and her firm and Scott Gill’s role at XYPN (00:02:59)
- A history of how Abby’s firm came to be and how she grew it to serve over 230 clients (00:05:56)
- How Scott lets members drive their compliance conversations and engagement (00:12:53)
- What SEC registration was like for Abby and the difference between being state registered and SEC registered (00:18:27)
- How many audits Abby has gone through in the past and what they were like (00:24:17)
- What a culture of compliance is and how important this term is to use (00:30:11)
- How mistakes are normal and showing progress from them helps build a stronger firm (00:36:47)
- Why technology can be useful when used correctly (00:45:31)
- Advice for advisors who are thinking about starting their firm or jumping into XY as an established firm when it comes to compliance support (00:48:40)
Featured on the Show:
- Abby Morton: Website | LinkedIn
- Scott Gill: Website | LinkedIn
- CERTIFIED FINANCIAL PLANNER™(CFP®)
- NAPFA (The National Association of Personal Financial Advisors
This Episode is Sponsored By:
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