Compliance Vs. Investor Experience: Are They Really At Odds?

Hear Maria Poly discuss why introducing new tech isn't as hard as it seems when it comes to compliance and investor experience -- and how it can substantially improve and streamline both.

Video Transcript

Seth Gordon: And that's a really good point. So a lot of these organizations that you're used to partnering with probably are doing a lot of things manually, or at least traditionally they have done that. And now they're starting to embrace more technology, having been in the space for awhile now, and working, working with all these different types of organizations, what are some of the biggest shifts that you've seen and maybe some of the biggest challenges that they, that they've had to overcome?

Maria Poly: One of the challenges is you have to run the process of fundraising and onboarding clients, investors. On the other side, you have to be compliant in many ways. And as you know, the industry is so regulated and you don't want to miss, even as little a part of the like disclaimer on the website. So now anything that you want to change has to go through the lawyers and then through the compliance department and then back to salespeople and they all have to somehow orchestrate the same process. So I found this is challenging. Another part is that any new software or any new process is a new habit and people are different, right? Someone just likes talking once to do nothing with it. Software, I know bunch of GPs who don't even use basic software. And although they're investing in technology, this is so foreign to them and I have to learn this, but to teach them from scratch. So this is the second challenge. And I think the third one is that there are very rare when there is a complex solution for the fundraisers, fundraising is just starting to get into their way. We see a lot of crowdfunding platforms where I would see platforms like WealthBlock or like fund administrators, but someone who could connect all of those pieces together. It's basically, I think what you guys are doing an amazing job on, and I've never seen anyone doing it so perfectly well. And so easy to understand. It's just the question of how do you put these whole pieces together and let people get used to the new habit of going through the process in different ways.