Episode 050: In this episode of The Connected Advisor, Kyle Van Pelt talks with April Turch, Chief Compliance Officer at Wolf Group Capital Advisors, about compliance and growth in wealth management. They discuss why compliance should not hinder growth, how advisors can leverage compliance to build a world-class company, the role of technology in reshaping the industry, and the regulatory challenges that AI and cryptocurrency present.

April has over 20 years of experience specializing in financial planning and wealth management operations. She manages and oversees firm-level projects that impact the firm’s success, team performance, and overall client experience. April is also responsible for helping the firm scale its operations through technology, processes, systems, and people. 

Key Takeaways

Compliance should be seen as a critical part of the organization’s operations, not a barrier to growth.

An organization with a great culture, vision, and purpose naturally attracts the best people.

Compliance and innovation are crucial for firms navigating regulatory changes like cryptocurrency and AI.

Technology, particularly AI, is a driving force in reshaping the wealth management industry.

Quotes

[08:58] – “When your firm has a great culture, a great vision, and a great purpose, you naturally attract the people you want to hire. I think it’s a combination of seeking and being found.” ~ April Turch

[12:56] – “We really take a lot of time getting to know the client and understanding what makes them tick, their thought processes, their values, their challenges, and what they are trying to achieve. Taking that time allows us to customize the things they need to get on their journey.” ~ April Turch

[17:46] – “We want to do what’s in the client’s best interest, whatever that may be. And so I help people have a compliance mindset when making those decisions on the front end so that it’s not so scary on the back end.” ~ April Turch

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Kyle Van Pelt