The New Compliance Challenges Facing Advisors

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About This Episode

Restrictive compliance and new, rapid-fire regulatory rules pose a challenge for independent advisors who often do not have the bandwidth to respond in a timely manner. Corporate RIAs must differentiate themselves on how they can help advisors navigate this often-confusing reality. My guests today lead one of the fastest growing independent broker-dealer/RIA hybrid platforms, CoastalOne, with over 150 financial professionals nationwide. CEO and president, Charles Reiling, and chief compliance officer, Barrett Schultz will discuss new compliance realities and challenges advisors are facing, as well as the importance of fintech solutions in the modern advisor’s practice.

About Our Guests

Charles F. Reiling III serves as president and chief executive officer of CoastalOne, including Coastal Equities, Inc., a FINRA registered broker-dealer; Coastal Investment Advisors, Inc., an SEC registered investment adviser; and Coastal Insurance Services, a division comprised of several insurance agencies providing access to a number of fixed and variable personal lines and business insurance. Charles also serves as the operating principal for Coastal Equities, Inc. Prior to his role as president, Charles served as Coastal’s chief legal officer and chief financial officer, respectively.

Charles’s past professional experience includes that as a partner with Skinner & Reiling, PC, a New Jersey headquartered law firm that had concentrated in securities law with a focus on representation of securities firms, investment advisory firms, and financial professionals including broker-dealer representatives, investment advisors, and financial planners. The firm also handled general commercial law, construction litigation, collection, and estate planning and administration. While there, Charles was also a managing director of BD/IA Compliance Solutions, LLC (“BDIA”), a financial services regulatory compliance consulting firm, at the time partially owned by Skinner & Reiling, PC. Charles also spent fifteen years intermittently in the private practice of law prior to the formation of Skinner & Reiling, PC.

An entrepreneur, Charles formed, acquired and sold several companies in the financial and food industries after previously serving as president and CEO of a Delaware trust company. He began his financial services career with Merrill Lynch in 1996.

Charles holds FINRA Series SIE, 4, 7, 24, 27, 63, 65, 66, and 79 licenses. In 1991, Mr. Reiling earned his BA in political science from LaSalle University in Philadelphia, PA. He earned his JD from Widener University School of Law in 1997. He is admitted to the bar in Maryland.

Barrett Schultz serves as chief compliance officer at CoastalOne and is responsible for the implementation, execution, and management of the compliance department to ensure adherence with all applicable SEC, FINRA, state securities board, and rules within the regulatory framework.

Barrett is an ambitious, results-oriented professional specializing in contract management, strategic planning, risk assessment, process mapping, internal audits, and relationship management. He has worked in the financial services industry for over 25 years and in compliance for over 15. Prior to joining CoastalOne, Barrett served as chief compliance officer and VP of operations at McNally Financial Services Corporation and as chief compliance officer at Investors Life Insurance Company Of North America and ILG Securities Corporation. He has a Bachelor of Business Administration degree in finance from the University of Texas at San Antonio and a Master of Business Administration degree with an emphasis in finance from the University of the Incarnate Word. In addition, he holds Series 6, 7, 24, and 63 FINRA licenses.

Outside of the office, Barrett enjoys hiking, traveling, seeing live music, and spending time with his wife and children. He and his wife have been friends since middle school and married after reconnecting at their 20-year high school reunion.

Show Notes

Here is a link to the CoastalOne website.

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