SmartRIA, a compliance software platform for registered investment advisers (RIAs), hybrid RIAs and RIA networks, has secured an undisclosed strategic investment from Ritholtz Wealth Management’s (RWM) venture capital fund The Compound Capital Fund I.
As part of the partnership, RWM will combine its investment management capabilities with SmartRIA’s compliance technology to drive innovation in the wealth management industry.
SmartRIA CEO Mac Bartine said: “We are thrilled to be working with such a well-respected industry leader.
“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.”
The Compound Capital Fund I invests directly in technology companies serving RIAs. It is managed by AngelList Advisors and sub-advised by RWM.
RWM managing partner Michael Batnick is the fund lead for The Compound Capital Fund I.
Commenting on the deal, Batnick said: “By working together, both companies will be able to drive transformational change in the wealth management industry. We’re looking forward to all the exciting applications and results from this partnership.”
Last year, RWM teamed up with WisdomTree to launch a new crypto index to provide retail investors with access and diversified exposure to cryptoassets.