Audit-Ready Books for a Growing RIA

The challenge

Harborline's advisory fees arrived from six custodians on different schedules, and the previous bookkeeper recorded deposits as they landed. Revenue by advisor was estimated quarterly. With a state regulator exam approaching and partner compensation tied to production, the firm needed a close process it could defend.

What we did

We rebuilt revenue recognition so fees were accrued by billing period, advisor, and custodian, then reconciled every custodian statement to the ledger monthly. Partner compensation moved onto a documented, reproducible schedule. Payroll was brought in-house to our team so it tied to the books every period.

The outcome

The regulator exam closed with no adjustments. The monthly close dropped from three weeks to two days, and the partners now review advisor-level profitability every month rather than every quarter.

“Alic gave us a close process we could hand to a regulator without hesitation. That peace of mind is worth more than the fee.”Daniel Osei, Managing Partner, Harborline Wealth Partners