Regtech RIA in a Box acquired by ComplySci

RIA in a Box, a well-known provider of regulation technology and consulting for independent advisers, has announced that it will be acquired by ComplySci, a compliance company serving the financial services sector.

RIA in a Box will continue to operate as its own brand under the leadership of Will Bressman, who has been the firm’s CEO for the past 10 years. Terms of the deal were not disclosed. 

Launched in 2005, RIA in a Box was first purchased in 2011 by an investment group led by Bressman and GJ King. In 2018, the company was acquired by the private equity firm Aquiline Capital Partners in a growing trend of private equity investors gaining exposure to the financial services industry.

“We are proud of what we have accomplished so far at RIA in a Box, and we’re thrilled to … further enhance the services and solutions we offer to the thousands of firms our combined organizations serve,” Bressman said.

The acquisition marks the third deal for ComplySci in the fourth quarter, in the wake of a strategic investment from K1 Investment Management, a private-equity firm focused on enterprise software companies. 

“The ability to efficiently manage compliance, cybersecurity and operational business issues is critical for financial services firms, making the RIA in a Box and ComplySci SaaS platforms more relevant than ever,” Roy Liao, principal at K1 Investment Management, said in a release.

Compliance has taken center stage as advisers have deployed tools to help advisers adapt to new remote work environments and remain compliant. Approximately 2,000 RIAs of varying sizes across the U.S. use the RIA in a Box platform to help streamline compliance work-flow.

The combined organization will have over 300 employees and more than 7,000 customers, according to the release.

The post Regtech RIA in a Box acquired by ComplySci appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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