Orical

What Orical does

Orical LLC is a New York-based, privately held compliance consulting and technology firm founded in 2010 by Gregory Florio (former Senior Counsel/Chief Compliance Officer) and James Leahy (former Chief Financial Officer), both previously employed at a multi-billion-dollar global fund manager. Operating under "The Orical Group of Companies" — which includes Orical LLC (consulting), REAL World Compliance (software), and the affiliated law firm Florio Leahy LLP under common control — the firm delivers compliance programs, regulatory exam preparation, registration services, mock audits, policy drafting, training, and ongoing monitoring to SEC-registered and state-registered investment advisers, private funds (private equity and hedge funds), and broker-dealers subject to FINRA oversight. The affiliated law firm is operated as a separate legal entity specifically to preserve attorney-client privilege for legal work product.

The firm's core technology product is REAL World Compliance ("REAL"), a compliance software platform built on the Relativity (e-discovery/RelativityOne) platform that provides code of ethics and books & records compliance, automated personal account tracking, forensic trading reviews, conflict-of-interest reporting, automated compliance calendars, and anti-insider trading controls for investment management firms. REAL is positioned as institutional-quality compliance technology delivered at a fraction of the cost of in-house solutions, and is offered alongside Orical's expert advisory services as a unified product portfolio. Customization, scalability, and integration with clients' dynamic operational needs are positioned as key technical differentiators.

Orical's business model is sales-led and retainer-based, with revenue generated primarily from subscription-style monthly compliance monitoring fees, flat-rate registration services, and quote-based subscription licensing for the REAL software platform (free demos available). The firm distributes through direct principal-level sales engagements and a self-service website lead funnel ([email protected], demo requests). GTM is supported by content marketing (Orical Weekly Regulatory Digest, whitepapers), CLE programs with the Practising Law Institute and NYSBA, regulatory breakfast briefings, fireside chats (e.g., with Greg Lippmann), webinars with partners such as Abacus Group, and a regulatory updates email newsletter. The firm is headquartered at 641 Lexington Avenue, FL 17, New York, NY 10022, and claims it has assisted clients through hundreds of actual regulatory exams and a similar number of mock exercises across SEC, CFTC, NFA, and FINRA frameworks.

Name

Orical

Legal name

Orical LLC

Website

https://orical.org

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Orical LLC is a New York-based compliance consulting and software firm founded in 2010 by former senior officers of a multi-billion-dollar fund manager, serving SEC-registered investment advisers, private funds, and broker-dealers with retainer-based advisory services and its proprietary REAL World Compliance platform built on the Relativity platform.

Ownership category

akta.pro rank

Product category

Investment Management Compliance Services

NAICS

Portfolio Management and Investment Advice (523940), Software Publishers (5132)

SIC

Investment Advice (6282), Services-Legal Services (8111)

akta.pro primary industry

Risk Controls & Pre-/Post-Trade Compliance (Best Execution, Limits, Suitability) (FSAFAKAJ)

akta.pro secondary industries

Regulatory Reporting & Submissions Automation (FSAFAOAA), Post-Trade Compliance & Transaction Reporting (MiFID/EMIR/SFTR/CAT) (FSACAJAD)

Keywords

• Investment management compliance
• Regulatory compliance consulting
• Code of ethics administration
• Broker-dealer compliance
• RIA registration services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Compliance Consulting Services: Retainer-based and flat-rate compliance consulting services for investment advisers, private funds, and broker-dealers. Services include registration assistance, mock audits, compliance monitoring programs, regulatory exam assistance, policy drafting, and training.
2. REAL Software Platform: Subscription-based software licensing for the REAL World Compliance platform providing compliance monitoring, code of ethics administration, human resources, and risk management capabilities.
3. Registration Services: Flat-rate registration services for RIA, CPO/CTA, and B/D registrations included under retainer-based fee programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Orical delivers customized investment management compliance programs for investment advisers, private funds, and broker-dealers, encompassing registration with the SEC and state regulators, Form ADV preparation, Dodd-Frank compliance, compliance manual and policy drafting, mock audits, regulatory exam assistance, ongoing compliance monitoring, electronic communications review, and training. Alongside these retainer-based and flat-rate consulting services, the firm licenses the REAL World Compliance (REAL) software platform, built on the Relativity platform, which provides compliance monitoring, code of ethics administration, automated personal account tracking, forensic trading reviews, conflict-of-interest reporting, an automated compliance calendar, and anti-insider trading controls.

Product overview

Orical offers a unified product portfolio combining compliance consulting services with a proprietary software platform. The core product is REAL World Compliance (REAL), a compliance software platform built on Relativity that provides compliance monitoring, ethics administration, and risk management. This software platform is offered alongside Orical's expert compliance consulting services including registration services, trading and conflict reviews, regulatory exam assistance, compliance policy drafting, electronic communications review, training programs, mock audits, and ongoing compliance monitoring programs. The company operates as a compliance and technology firm separate from its affiliated law firm Florio Leahy LLP.

Differentiator

Problem solved

Functional benefit

Brands

• REAL World Compliance: Investment management compliance software platform built on the Relativity platform, providing compliance monitoring, ethics administration, human resources, and risk management solutions.

Products and services

• REAL World Compliance (REAL) Subscription-based compliance software platform built on the Relativity platform that delivers compliance monitoring, code of ethics administration, automated personal account tracking, forensic trading reviews, conflict-of-interest reporting, an automated compliance calendar, and anti-insider trading controls for investment managers.
• Investment Management Compliance Consulting Services Retainer-based and flat-rate compliance consulting for investment advisers, private funds, and broker-dealers covering registration assistance, Form ADV preparation, Dodd-Frank compliance, customized compliance programs and manuals, mock audits, regulatory exam assistance, policy drafting, electronic communications review, training, and ongoing compliance monitoring.
• RIA, CPO/CTA, and Broker-Dealer Registration Services Flat-rate registration services for investment advisers (RIA), commodity pool operators/trading advisors (CPO/CTA), and broker-dealers (B/D), including Form ADV preparation, customized compliance policies, and ongoing registration maintenance.

Quantifiable outcome

• Cost-effective alternative to bringing commensurate expertise in-house

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered minor.

• Reliant Fund ServicesminorGTM or Marketing Partner · 19 November 2025Orical and Florio Leahy featured on Reliant's Emerging Manager Monthly series. Vanessa Sasson participated in a fireside chat with Eric Schultz of Reliant covering the full lifecycle of emerging managers from launching initial SPV to preparing for institutional-grade investors.
• Shadmoor Due DiligenceminorGTM or Marketing Partner · 13 November 2025Michael Merrigan, Founder of Shadmoor Advisors, participated in an Orical Regulatory Breakfast Briefing discussing how operational due diligence shapes manager readiness, investor expectations, and compliance strength in today's regulatory environment.
• Abacus GroupminorGTM or Marketing Partner · 25 June 2024Orical collaborated with Abacus Group to host a webinar discussing the SEC's amendments to Regulation S-P. The webinar delved into new notification requirements, mandatory incident response programs, expanded safeguard and disposal rules, and annual privacy notices.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Smarsh: Smarsh provides electronic communications capture, archiving, and supervision for regulated financial firms, overlapping with Orical's electronic communications review and books-and-records workflows but serving a much broader compliance market beyond investment management.
• BDO USA: BDO's investment management practice provides advisory, tax, and assurance services to investment advisers and private funds. As a large multi-discipline firm, BDO competes with Orical on outsourced CCO, mock exams, and broader advisory work for mid-market investment managers.
• KPMG (Investment Management Regulatory practice): KPMG's investment management regulatory and compliance practice serves large asset managers, hedge funds, and private equity firms with risk, regulatory, and technology solutions. It competes with Orical on enterprise engagements and on technology-enabled regulatory reporting.

Direct peers

• ComplySci (AML RightSource): ComplySci is a SaaS platform for employee trade monitoring, personal account dealing, and code of ethics administration at financial services firms. After acquisition by AML RightSource, it offers content and workflow that overlaps directly with REAL's code of ethics, personal account tracking, and conflict-of-interest modules.
• StarCompliance: StarCompliance offers compliance software for employee trade monitoring, insider trading surveillance, and code of ethics workflows at asset managers, hedge funds, and broker-dealers — a near-identical product footprint to Orical's REAL software.
• National Regulatory Services (NRS): NRS provides regulatory compliance consulting, registration services, and continuing education for investment advisers and broker-dealers. It is one of the longest-standing direct competitors to Orical's retainer-based advisory and registration offerings.
• ACA Compliance Group: ACA is a leading provider of governance, risk, and compliance solutions for the investment management industry, combining consulting services with technology products (e.g., ACA ComplianceAlpha). It directly competes with Orical on both the consulting and software axes for investment advisers, private funds, and broker-dealers.
• Red Oak Compliance Solutions: Red Oak provides advertising review, compliance surveillance, and ongoing monitoring technology for investment advisers and broker-dealers. It competes most directly with Orical on broker-dealer advertising review and forensic trading review workflows.
• Cipperman Compliance Services: Cipperman is a specialist compliance consulting firm for investment advisers, hedge funds, and private funds, providing outsourced CCO services, mock SEC exams, and registration support. It competes with Orical on retainer-based compliance advisory for the same buyer segments.

Others

• Schellman & Co: Schellman is a niche compliance and certification firm (SOC, ISO, HITRUST) that serves financial services clients. While not an investment-management compliance competitor, it sits in the broader financial-services compliance ecosystem where Orical's clients seek additional attestation services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/orical-llp

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Orical