As regulatory expectations and operational complexities continue to grow, investment advisers and broker-dealers increasingly turn to technology and specialized service providers to meet their obligations efficiently and effectively. Outsourcing certain functions has become a strategic choice, offering access to deep expertise, cost efficiencies, and enhanced oversight, all of which help firms maintain a strong compliance and operational framework. Choosing the right partners is critical to staying proactive, agile, and competitive in today’s evolving environment.
Outsourcing can extend beyond compliance to support cybersecurity, portfolio management, reporting, operations, and other essential business functions. At Core Compliance & Legal Services, Inc. (“Core Compliance”), we are regularly asked to help clients identify third-party solutions that align with their business objectives and regulatory responsibilities. Working with well-vetted vendors not only reinforces compliance but also strengthens internal controls and enterprise-wide risk management.
In this Risk Management Update, we highlight a selection of vendors our clients have engaged over the years. Each provider has unique service offerings and delivery models, making thorough due diligence by advisers a critical step before entering into any engagement — and continuing throughout the relationship. Key steps in vendor due diligence include:
- Evaluating financial health and organizational stability
- Reviewing regulatory history and compliance practices
- Assessing cybersecurity controls, data protection, and business continuity plans
- Confirming service levels, reporting capabilities, and escalation protocols
- Understanding subcontractor use and data flow procedures
Ongoing oversight and monitoring are essential, especially as regulators increasingly focus on operational resilience and effective management of third-party risk.
Compliance Technology Solutions
Hadrius – Hadrius offers an AI-powered platform that packages your compliance tasks in one place. The platform features archiving and review for email and other communications, as well as automated marketing review powered by their own ComplianceGPT. They also offer trade monitoring, attestations and disclosures review, and task management, all within the software.
Hadrius.com | (804) 293-0416
MyComplianceOffice – MyComplianceOffice (MCO) provides a software system for compliance requirements and employee trading activity management, as well as task management and workflow, compliance calendar building, attestation management, disclosure management, gifts and entertainment monitoring, case and document management, risk management and more.
mco.mycomplianceoffice.com | (866) 951-2280
OneTrust – OneTrust offers to standardize AI project intake, streamline risk evaluations, and centralize your AI asset inventory with automated discovery and mapping to support continuous governance. OneTrust also allows the tracking of AI risk and performance in real time, along with audit-ready reporting capabilities.
onetrust.com | (888) 483-7344
Orion ComplianceTM – Orion Compliance™ delivers a simple, centralized compliance platform, enabling compliance personnel to focus on high-risk areas while meeting critical regulatory and documentation requirements. The dashboard-driven system consists of a flexible menu including compliance calendar customization, testing, certifications and attestations, gifts and entertainment monitoring, risk assessments, form builder tool, personal trading, whistleblower, and document library management.
orion.com/advisor-tech | (402) 496-3513
Custodians
Charles Schwab | Advisor Services – Charles Schwab Advisor Services (Schwab) offers Registered Investment Advisors three things: experience, partnership and investment. Schwab knows that firms value their independence but crave advocacy. Within their custodial services Schwab offers RIAs support, service, technology, access to tools and products, education, training, and more.
advisorservices.schwab.com | (877) 687-4085
Fidelity | Fidelity Institutional SM – Fidelity acknowledges that operating in today’s industry requires the right tools, resources, and support to drive future results. With Fidelity Institutional℠, firms have access to innovative technology and dedicated service to help evolve their business.
clearingcustody.fidelity.com | (877) 208-0098
Interactive Brokers, LLC – Interactive Brokers’ (IBKR) services make them a gateway to the world’s markets. Their services include multiple trading products and tools, custom trading technologies and platforms, and more.
interactivebrokers.com | (707) 559-3258
Continuing Education/Compliance Certifications/Training
FINRA Institute at Georgetown (CRCP)® Certification – The FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program provides compliance, legal and regulatory professionals with an in-depth understanding of the foundation, theory and practical application of securities laws and regulations.
finra.org | (301) 590-6500
National Society of Compliance Professionals: Certified Securities Compliance Professional (CSCP) Certification – A CSCP designation distinguishes individuals with intermediate to advanced proficiency and a commitment to advancing securities compliance practices. This 14-week course is offered online through the University of St. Thomas in collaboration with NSCP and grants one of three designations: Investment Adviser-Broker Dealer, Broker Dealer, or Investment Adviser.
nscp.org/about-cscp | (860) 672-0843
Quest CE – Quest CE offers compliance education and training opportunities for the financial services industry. In addition to offering continuing education (“CE”) for professionals holding insurance licenses and professional designations like the CFP and APA, and designations, Quest CE also provides a complete spectrum of compliance training solutions.
questce.com/course-catalog | (877) 593-3366
RegEd, Inc. – RegEd boasts a comprehensive course catalog covering a variety of industry topics and educational needs, including annual compliance meetings, AML training, IAR and Insurance CE and much more. RegEd’s Annuities Training Platform (ATP) allows producers to complete the required state suitability and carrier-specific product training on their platform.
reged.com | (800) 334-8322
Securities Training Corporation® – The Securities Training Corporation (STC)® offers securities CE, securities licensing, insurance CE, and insurance pre-licensing and exam preparation licensing training in a classroom or self-study format. Their offerings are designed for professionals looking to start a career in financial services or insurance, with their wide range of study products constructed to prepare.
stcusa.com | (800) 782-1223
Electronic Books & Records / Data Management Solutions
Bloomberg Vault – As part of Bloomberg professional services, Bloomberg Vault provides a suite of highly secure solutions for capturing, archiving, surveilling, reconstructing and analyzing all of a firm’s trades and communications, allowing companies to elevate their business controls, manage their conduct risk and meet their regulatory obligations.
bloomberg.com | (212) 617-6580
Broadcom Inc. – Broadcom® offers a comprehensive portfolio of identity-centric data loss prevention for IT security professionals. Broadcom supplies a variety of technology solutions to protect all types of sensitive information and assets to help minimize accidental, negligent, and malicious misuse of data, as well as to help you remain compliant with regulations and corporate policies, and to reduce overall business risk.
broadcom.com | (800) 225-5224
Electronic Mail Archiving & Surveillance Tools
Global Relay® – Growing up with the financial industry, Global Relay has built reliable secure solutions for electronic messaging, allowing you to mitigate risk and stay ahead of evolving regulation with fully integrated solutions for every step of your compliant communications journey.
globalrelay.com | (866) 484-6630
Intradyn – With over 15 years in the industry, Intradyn has designed a full line of innovative archiving solutions to solve your most pressing business challenges, specializing in email, social media, and mobile communication archiving.
intradyn.com | (800) 284-4156
Smarsh – Smarsh offers companies their approach to capturing, storing, and monitoring communications, specializing in e-communication archiving. Digital communication content is easily searchable, and captured in its original, unaltered format with conversational context included. Their latest update includes introducing a suite of AI-enabled solutions to quickly identify red flags.
smarsh.com | (503) 946-5980
Errors & Omissions (E&O) and CCO Liability Insurance
Chubb – As a global provider of insurance products, Chubb provides solutions and coverage for everything from professional liability, cybersecurity, worker’s compensation, workplace benefits, accident and health, and more. They offer protection for businesses of all sizes, customized to the needs of your industry.
chubb.com | (866) 324-8222
Marsh McLennan – Marsh McLennan is a global risk and insurance services firm, providing coverage for a variety of exposures, including mergers and acquisitions, financial and professional liability, operational risk, cyber risk, and more.
mmc.com/solutions | (212) 345-5000
Starkweather & Shepley Insurance, Brokerage Inc. – Starkweather & Shepley offers a full range of cost-effective commercial insurance and risk management solutions, including a variety of business insurance, benefits solutions, and related services worldwide.
starshep.com/services | (800) 854-4625
Windermere Insurance – Understanding the nuances of the Financial Services Industry, Windermere provides a wide range of coverage for CCOs, including E&O, D&O, and Employment Practices, Cyber Liability and Crime, and ERISA Bonding insurance.
windinsgroup.com | (888) 655-6507
GIPS® Verification and Performance Services
CAPS Inc. – CAPS provides a unique approach to investment data organization and analytics by designing and deploying a CAPS software solution, allowing for GIPS® reporting, outlier analysis, performance reports, risk measures, and more.
capsinc.com | (407) 930-3590
Deloitte – The company’s GIPS® service helps their clients stay abreast of developing local and international trends and issues. They offer a three-pronged approach centering on planning, firmwide testing, and reporting designed to provide assurance with minimal disruptions.
deloitte.com | (212) 492-4000
Private Fund Administration
Hedge Solutions, Inc. – Hedge Solutions is a risk management consulting company, advising clients on hedging, purchasing and marketing strategies to grow and safeguard their businesses. Using their web-based Hedge Insite software, clients can utilize a workspace for managers to build a financial simulation of their business and test a variety of possible scenarios in advance.
hedgesolutions.com | (800) 709-2949
Opus Fund Services, LLC – Opus Fund Services offers a variety of fund administration services, including private equity, family office administration, and more. Regarding hedge fund administration, Opus Fund Services offers NAV production, portfolio accounting, and portfolio reconciliations – regardless of complexity or fund size.
opusfundservices.com | (312) 256-9974
SS&C Technologies Holdings, Inc. – SS&C Technologies Holdings (NASDAQ: SSNC) provides fund administration services for hedge funds, fund of funds, hybrid/infrastructure funds, registered funds, family offices and more. SS&C also offers back office, middle office, and front office software for alternatives investment managers.
ssctech.com | (844) 994-7762
Private Fund Auditing Firms
CBIZ – With the acquisition of Marcum LLP, CBIZ (NASDAQ: CBZ) offers international accounting and advisory services. CBIZ provides a full spectrum of traditional tax, accounting, and assurance services. Audits are specifically aligned with the client’s business functions but go beyond just the financial.
cbiz.com | (858) 795-2000
KPMG, LLP – With their worldwide presence, KPMG provides audit, tax and advisory services and industry insight to help organizations negotiate risks and perform in the dynamic and challenging environments in which they do business. Their audit approach promotes technology-driven efficiencies to offer real-time visibility.
kpmg.us | (858) 750-7100
HR Administration Support
ADP® – ADP offers HR administration and technology solutions for the internal workings of your firm. On top of AI automation solutions, their services include HR services, talent acquisition, time and attendance monitoring, benefits administration, payroll maintenance and more.
adp.com | (855) 993-4004
Coastal Payroll® – Coastal Payroll specializes in human capital management, which includes human resources, benefits administration, time and attendance tracking, and more. Their suite of offerings also includes payroll, time keeping, talent acquisition, and custom integrations for your specific business.
coastalpayroll.com | (858) 565-2123
Justworks – Justworks streamlines payroll, benefits, employee-related compliance, and HR tools into an all-in-one online solution. Working exclusively with small and mid-sized businesses across the globe, Justworks offers 24/7 customer support and flat-rate, transparent administration fees. For those who are looking for benefits, they also specialize in accessing better and more affordable health insurance for small teams.
justworks.com | (646) 798-1787
Paychex® – Paychex, Inc. (NASDAQ: PAYX) is a provider of integrated human capital management solutions for payroll, time and attendance, employee benefits, and business insurance services. Paychex also offers a cloud-based HR technology software, which is customizable based on your business.
paychex.com | (833) 729-8200
TriNet Professional Services – TriNet offers HR administration expertise including payroll processing, risk mitigation for employee-related compliance, and time tracking services. TriNet allows your business the opportunity to offload administrative tasks and paperwork associated with HR functions.
trinet.com | (888) 874-6388
Portfolio Accounting and Trade Management Systems
Charles River Investment Management Systems – Charles River provides the industry with a unique approach, including their Charles River Investment Management Solution (Charles River IMS). Their platform automates front and middle office processes for buy-side firms. The solution helps enable accurate and timely investment decision support for institutional and wealth managers, alternative investment firms, insurers and asset owners.
crd.com | (781) 238-0099
SS&C | Advent – Another offering provided through SS&C Technologies, Advent offers innovative financial technology solutions for asset management, wealth management, and alternative investment business needs to optimize their workflows.
advent.com | (800) 727-0605
SS&C | EZE – As one of the many solutions offered by SS&C Technologies, EZE Portfolio Management and Accounting (PMA) offers a holistic view of your portfolios at all times by providing a historic book of records and real-time reporting across all your asset classes.
ezesoft.com | (732) 456-4696
Envestnet | Tamarac® – As a division of Envestnet® (NYSE:ENV), The Tamarac platform combines trading and reporting in a single intuitive software interface to automate your model portfolio construction and management, monitor your accounts for trading triggers, make tactical trades, execute trades directly with your broker, and more.
tamaracinc.com | (866) 525-8811
Proxy Voting Services
Broadridge Financial Solutions – Broadridge’s secure, state-of-the-art ProxyVote™ digital platform allows investors to access, review, vote proxies and confirm their vote was counted all within the app.
broadridge.com | (800) 353-0103
Glass Lewis and Co. – Glass Lewis brings decades of expertise to the proxy voting and governance process to give you a fast, flexible, and transparent end-to-end solution. Their proxy voting platform, Viewpoint, offers a flexible and user-friendly interface with everything from ballot reconciliation to reporting within the software.
glasslewis.com | (415) 678-4110
Cybersecurity: Vulnerability Assessments & Penetration Testing
Altius IT – Altius IT is a security audit company with certified auditors to help firms meet their security and compliance requirements. Their unique approach to cybersecurity includes IT audits and penetration testing, privacy and compliance audits, mobile application security, and website security testing. They also offer an artificial intelligence application audit to evaluate your firm’s AI app for the required security and privacy controls.
altiusit.com | (714) 794-5210
Secureworks® | Sophos – As a product from Secureworks, Sophos Central Management Console provides a cloud-native security analytics platform to improve your ability to detect advanced threats, streamline and collaborate on investigations, and automate the right actions. Sophos offers many integrations for cloud, endpoint and network systems as well as the possibility of custom integrations.
secureworks.com | (877) 838-7947
Xantrion – Xantrion offers fully managed and co-managed IT solutions, including a dedicated virtual Chief Information Officer to offer a turnkey cybersecurity program for your business. In addition to IT strategy, planning, and budgeting, they also provide 24/7 tech support and an audit-ready cybersecurity program.
xantrion.com | (510) 272-4701
Cybersecurity Insurance
National Associate of Professional Agents – National Associate of Professional Agents (NAPA) insurance programs provide small businesses with coverage to help protect against the financial burden created by a data breach.
napa-benefits.org | (800) 593-7657
Starkweather & Shepley Insurance, Brokerage Inc – Starkweather & Shepley can work with your firm to secure options for coverage that mitigates the operational risk of running a business. Since cyber liability insurance is not standardized it is important to work with a good agent to help define the coverage needed and negotiate the terms. Starkweather & Shepley also offers CCOProtect™, a tailored solution specifically for CCOs to protect personal assets against potential litigation.
starshep.com | (800) 854-4625
The Hartford – The Hartford helps businesses prepare for a cyber breach by providing a suite of comprehensive, variable coverages that respond to the ever-expanding list of cyber threats. Their offerings include both cyber liability insurance and data breach coverage, depending on your needs.
thehartford.com | (855) 440-1078
Windermere Insurance Group – Windermere Insurance understands the exposures and inherent risks that threaten your business and personal assets. They aim to help businesses prepare for a cyber breach by providing a suite of flexible coverages. windinsgroup.com | (888) 655-6507
Vendor Due Diligence Software
Open VRM – Open VRM provides a free platform allowing vendors and their clients to openly communicate and project manage throughout the due diligence process. Offering compliance-driven vendor frameworks, industry-standard questionnaires, vendor visibility and a risk level dashboard, Open VRM aims to simplify the vendor due diligence process.
openvrm.com | (646) 693-7264
For more information, please contact us at info@corecls.com, at (619) 278- 0020 or visit us at www.corecls.com.
The vendors listed in this post are provided for informational purposes only. Core Compliance has not received any compensation or incentives for including these companies, and their mention does not constitute an endorsement of their products or services. We encourage individuals to conduct their own research and due diligence before engaging with any vendor. This article is for information purposes and does not contain or convey legal or tax advice. The information herein should not be relied upon in regard to any particular facts or circumstances without first consulting with a lawyer and/or tax professional.
Core Compliance works extensively with investment advisers, broker-dealers, investment companies, hedge funds, private equity firms and banks on regulatory compliance issues.
Core Compliance works extensively with investment advisers, broker-dealers, investment companies, hedge funds, private equity firms and banks on regulatory compliance issues. This article is for information purposes and does not contain or convey legal or tax advice. The information herein should not be relied upon in regard to any particular facts or circumstances without first consulting with a lawyer and/or tax professional. Furthermore, Core Compliance has not conducted thorough due diligence on the third-party vendors listed herein and does not endorse, sponsor, or recommend the vendor’s products, services, and/or activities. The information is for convenience only and used as a reference for interested parties.