Outsourcing Compliance? 38% Of All RIA Firms Are Doing Just That Hot
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We're still mining all the great benchmarking data that Schwab has been doing for years. Turns out that one detail -- the compliance outsourcing stat -- was neglected until fairly recently.
A full 38% of RIA firms now use a third-party compliance officer. Last year, the number was more like 27%.
That's a big change in a year, and the reason for it is obvious: cost.
Schwab reportedly estimates that farming out compliance saved about 26% of the cost of doing the job in-house.
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