Compliance Advisers

What Compliance Advisers does

Compliance Advisers, Inc. is a privately held, boutique regulatory compliance consulting firm founded in 1989 and headquartered in Denver, Colorado, that delivers customized regulatory compliance services to Broker Dealers, Investment Advisers, and Investment Companies throughout the United States. The firm is founder-led by Karen A. Steighner (President/CEO), who holds Series 7, 63, 24, 27, 65, and 79 securities registrations and serves as a registered Financial & Operations Principal (Series 27); consultants across the practice average more than 25 years of securities/financial services industry experience. The firm markets itself under the trademarked positioning "Customized Compliance Solutions™" and is structured around personalized engagements rather than a software platform or productized offering.

The service catalog is organized around three primary verticals: Broker/Dealer Compliance (new broker-dealer registration packages under FINRA Rule 1014, written supervisory procedures, FINRA Rule 3120 testing and Rule 3130 certification, independent AML testing, continuing education programs, Form CRS, and crowdfunding portal registration under the JOBS Act), Investment Adviser Compliance (SEC and state registration, Form ADV/CRS preparation, annual reviews under Rule 206(4)-7, mock SEC presence exams for private-fund advisers, investment adviser policy and procedure manuals, business continuity and succession planning), and Financial Principal Services (outsourced FinOp, net capital compliance, FOCUS reporting, bookkeeping, and audit support). Adjacent offerings include cybersecurity policies and risk assessments, expert witness services, and Web IARD/CRD electronic filing. There is no proprietary technology platform, API, mobile application, or third-party integrations; work product consists of compliance manuals, registration filings, supervisory procedures, written testing reports, and consulting deliverables produced by senior practitioners.

Revenue is generated through professional services engagements priced on a customized, quote-based, all-inclusive basis rather than through standardized SaaS or per-seat pricing. The firm operates a direct sales motion: clients initiate engagement via phone ((303) 795-0400, toll-free (855) 795-0440), email, or website request-for-quote forms, and services are scoped to each client's regulatory needs and budget. Distribution is exclusively direct, with no resellers or marketplace presence. The firm markets through its website, displays of FINRA Notices and SEC Press Releases on its homepage, a blog of compliance guidance, and professional association memberships (ACFE, ACAMS, NSCP, SFAA, Women in Compliance). Headcount is reported as 1–10 employees, consistent with a founder-centric boutique operating model, and the firm remains bootstrapped with no disclosed funding rounds, acquisitions, parent company, or ownership changes since founding.

Name

Compliance Advisers

Legal name

Compliance Advisers, Inc.

Website

https://complianceadvisers.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

Compliance Advisers is a Denver-based, founder-led boutique founded in 1989 that provides customized regulatory compliance consulting to U.S. broker dealers, investment advisers, and investment companies, covering registrations, annual reviews, AML testing, FinOp outsourcing, and cybersecurity policy work.

Ownership category

akta.pro rank

Product category

Regulatory Compliance Consulting

NAICS

Other Scientific and Technical Consulting Services (54169)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Regulatory Compliance Advisory (BPAHAFAB)

akta.pro secondary industries

Regulatory Compliance Management (Policies, Attestations, Obligations Mapping) (FSAFAKAG), Financial Crime Compliance Program Management (Policies, Controls, Training) (FSAMAMAH), Insider Trading & Market Conduct Compliance (EDABADAG)

Keywords

• Regulatory compliance consulting
• Securities compliance services
• Broker dealer compliance
• Investment adviser compliance
• AML independent testing

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Compliance Consulting Services: Professional services revenue generated from providing customized regulatory compliance consulting to Broker Dealers, Investment Advisers, and Investment Companies. Services include registration packages, annual reviews, compliance manuals, AML testing, cybersecurity assessments, and ongoing compliance consulting. Pricing is customized quote-based.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Compliance Advisers is a boutique regulatory compliance consulting firm that delivers customized compliance solutions to Broker Dealers, Investment Advisers, and Investment Companies. Services span comprehensive registration packages, written supervisory procedures and compliance manuals, annual compliance reviews under SEC Rules 206(4)-7 and 38a-1, FINRA Rule 3120/3130 supervisory testing, independent AML testing, cybersecurity program development, outsourced Financial & Operations Principal (FinOp) services, IARD/CRD electronic filing, crowdfunding portal registration, and securities industry expert witness services.

Product overview

Compliance Advisers is a regulatory compliance consulting firm offering a comprehensive suite of customized compliance solutions for the securities industry. The company's portfolio consists of multiple distinct service lines: Broker/Dealer Compliance Services covering registration, supervisory procedures, and FINRA compliance; Investment Adviser Compliance Services including SEC/state registration, Form ADV, and annual reviews; Financial Principal (FinOp) Services for net capital compliance; Cybersecurity Services with written policies and risk assessments; AML Independent Testing; Crowdfunding Portal Registration; Expert Witness Services; and Web IARD/CRD filing services. These services are delivered through consulting engagements rather than a software platform, providing advisory, procedural development, testing, and registration assistance to broker/dealers, investment advisers, and investment companies throughout the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Comprehensive New Broker Dealer Registration Package All-inclusive comprehensive package covering the entire broker dealer registration process for new broker dealers, including business plan development, written supervisory procedures, continuing education plan, pre-membership interview preparation, and six months of general compliance consulting services after approval. Targeted at prospective broker dealers pursuing FINRA membership.
• Comprehensive Investment Adviser Registration Package All-inclusive comprehensive package for SEC and state investment adviser registration, covering preparation and submission of all forms, documents, and filings; customized written supervisory procedures manual; IARD account establishment; and management of all communications with regulatory authorities.
• Broker/Dealer Compliance Services Comprehensive ongoing compliance consulting services for broker/dealers including written supervisory procedures, FINRA Rule compliance support, AML testing, and ongoing general compliance consulting. Designed for broker dealers needing continuous regulatory compliance support.
• Investment Adviser Compliance Services Ongoing compliance consulting for investment advisers including SEC and state registration support, Form ADV preparation, annual reviews under Rule 206(4)-7, policy and procedures development, and mock audits. For SEC- and state-registered RIAs.
• Financial Principal (FinOp) Services Outsourced Financial and Operations Principal (FinOp) services for broker/dealers, including net capital compliance management, FOCUS report preparation, bookkeeping, and regulatory examination support. Provides access to a registered Financial & Operations Principal for firms lacking in-house FinOp resources.
• Cybersecurity Services Cybersecurity written policies and procedures development and comprehensive risk assessments for broker/dealers and investment advisers to meet FINRA cybersecurity requirements. Designed for securities firms needing compliant cybersecurity programs.
• AML Independent Testing Independent anti-money laundering compliance program testing for broker/dealers, including risk assessments, Customer Identification Program (CIP) testing, suspicious activity reporting review, and SAR procedures evaluation. Concludes with issuance of a final AML Certification Certificate.
• Crowdfunding Portal Registration Assistance with funding portal registration under the JOBS Act, including SEC and FINRA registration guidance for prospective crowdfunding portals.
• Securities Industry Expert Witness Services Securities industry expert witness services including consultation, document review, drafting, and testimony for broker/dealer, investment adviser, and net capital compliance matters. Provided for litigation and regulatory proceedings.
• Annual Review Services (Rule 206(4)-7 / Rule 38a-1) Annual compliance review services for investment advisers and investment companies as required by SEC Rule 206(4)-7 and Rule 38a-1 to assess the adequacy and effectiveness of policies and procedures.
• FINRA Rule 3120 Testing & Verification and 3130 Certification Annual supervisory control testing and certification services for FINRA members, including FINRA Rule 3120 verification and Rule 3130 certification, with comprehensive consolidated reports satisfying FINRA requirements.
• Continuing Education Programs Development of Firm Element continuing education programs including needs analysis, written training plans, and training in various securities topics for broker/dealers to satisfy FINRA continuing education requirements.
• Web IARD/CRD Services Electronic registration and filing services through FINRA's IARD/CRD system for broker/dealers and investment advisers, including Form NMA, Form BD, Form ADV, and individual registrations.

Quantifiable outcome

• Comprehensive management of entire broker dealer and investment adviser registration processes from start to finish
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor.

• Association of Certified Fraud Examiners (ACFE)minorOthersProfessional membership organization for fraud examiners. Compliance Advisers is a member, demonstrating professional credentials in the compliance and anti-fraud space.
• ACAMS (Association of Certified Anti-Money Laundering Specialists)minorOthersLeading global organization of anti-money laundering (AML) professionals. Membership supports Compliance Advisers' AML testing and compliance services.
• NSCP (National Society of Compliance Professionals)minorOthersProfessional organization for compliance professionals in the securities industry. Membership provides networking and professional development resources.
• SFAA (Sports Financial Association)minorOthersIndustry association related to sports financial compliance. Membership extends industry reach.
• Women in ComplianceminorOthersProfessional network for women in compliance roles. CEO Karen Steighner is a member, providing visibility and professional connections in the compliance industry.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Core Compliance & Legal Services: Core Compliance provides outsourced CCO services, compliance program design, and regulatory consulting to investment advisers and private fund managers — closely comparable to Compliance Advisers' investment adviser and investment company practices.
• National Regulatory Services (NRS): NRS provides regulatory compliance consulting, registration, and continuing education services for broker-dealers, investment advisers, and insurance producers — directly overlapping with Compliance Advisers' service lines and target segments.
• ACA Compliance Group: ACA Compliance Group is a leading specialized compliance consulting firm serving broker-dealers, investment advisers, and investment companies — directly overlapping with Compliance Advisers' core customer segments and service offerings (registration, AML, GRC). It is significantly larger but addresses the same niche market.
• Cipperman Compliance Services: Cipperman is a boutique compliance consulting firm focused on investment advisers and private funds, providing outsourced CCO services, registration support, and mock SEC exams — directly comparable to Compliance Advisers' investment adviser practice.
• Affiliated Monitors: Affiliated Monitors provides regulatory compliance consulting, monitorships, and expert witness services in the financial services sector — comparable to Compliance Advisers' expert witness and regulatory advisory offerings.
• CCO Consulting Group: CCO Consulting Group provides outsourced Chief Compliance Officer services and compliance consulting for RIAs and broker-dealers, directly competing for the same small/mid-sized firm clients that Compliance Advisers serves.

Broad incumbents

• Deloitte Risk & Financial Advisory: Deloitte's Risk & Financial Advisory practice serves large broker-dealers, investment advisers, and investment companies with risk, regulatory, and compliance consulting as part of a broader advisory portfolio — overlapping at the enterprise end of Compliance Advisers' market.
• Ernst & Young (EY) Financial Services Risk Management: EY provides regulatory compliance, AML, and risk advisory services to large broker-dealers and asset managers globally — competing for larger engagements that Compliance Advisers' boutique scale cannot accommodate.
• KPMG Regulatory and Compliance Risk: KPMG's Regulatory and Compliance Risk practice advises financial services firms on SEC/FINRA compliance, AML, and governance as part of a broader advisory portfolio — competing for the largest, most complex mandates.

Emerging players

• Comply: Comply is a RegTech platform offering automated compliance program management for investment advisers, partially overlapping with Compliance Advisers' manual/policy consulting work and representing a technology-driven competitive vector.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/compliance-advisers-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Compliance Advisers