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June 29, 2022 | Tom Ballard

SmartRIA secures additional investment from The Compound Capital Fund I LP

Knoxville’s SmartRIA®, a leading compliance software platform for Registered Investment Advisors (RIAs), hybrid RIAs and RIA networks, has secured a strategic investment from The Compound Capital Fund I LP.

The announcement is the latest good news for the initially bootstrapped local company that we last spotlighted in a two-part series in November 2021 (Part 1 and Part 2). At the time the article was published, Founder Roger Kiger and Chief Executive Officer Mac Bartine both expressed their belief that the company was on the verge of its “hockey stick moment,” and the investment should only further underscore their belief.

The Compound Capital Fund I, which is managed by AngelList Advisors LLC, invests directly in technology companies serving RIAs. It also relies on Ritholtz Wealth Management, an RIA firm based in New York City, as a sub-adviser for the fund.

This collaboration between SmartRIA and Ritholtz Wealth Management will drive innovation in the wealth management industry by combining RWM’s investment management expertise with SmartRIA’s innovative compliance technology.

“We are thrilled to be working with such a well-respected industry leader,” Bartine said. “This new partnership with Ritholtz Wealth Management helps SmartRIA reach new heights as demand for scalable compliance solutions is accelerating and showing no signs of slowing down. It pushes our flywheel faster, allowing us to achieve our ultimate goal: to be the best at simplifying wealth management compliance.”

We followed-up with Bartine on the recent news release that included the above quote, and he added the following: “This is a continuation of our strategic investment round from our customers Dynasty Financial and MarketCounsel. I see significantly greater value in strategic investments from customers than in outside capital alone. Getting to the point that major industry players want to both pay for and invest in SmartRIA is a major milestone for us, and makes me more confident than ever that we’re in a transformational period for SmartRIA.”

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