Avestar Capital is an independent global advisory firm that takes immense pride in enhancing the value of the business through a robust hiring strategy, culture of excellence and best business practices. The firm has taken significant efforts to ensure that our global financial advisory platform has the best resources and experience so we can provide the highest level of service to our clients.
Avestar Capital develops and executes integrated financial plans. Being entrepreneurs themselves, the team at Avestar Capital understands the needs of entrepreneurs and seamlessly develops personalized wealth and financial advisory solutions to fit these requirements. Avestar Capital uses a mix of technology, ideas, opportunities, and people to provide solutions that fulfill the clients’ financial needs. The firm offers a wide range of services such as private wealth management, balance sheet administration, and family office services, the Avestar Advisory for cross border/ offshore funds, asset management by Global Capital Strategies, and philanthropy.
In a highly regulated industry, the role of a Chief Compliance Officer (CCO) cannot be emphasized enough and is a key role to the business’s long-term success. Realizing this, Xerxes Mullan, the Founding Partner of Avestar Capital, envisioned that Avestar Capital should be based on an ethos of hiring and retaining the best human talent, and after evaluating several options, the Audit & Risk Committee chose the highly reputed and industry-leading firm in outsourced regulatory compliance, Cipperman Compliance Services (CCS), to steer the firm’s enhanced compliance program. Todd Cipperman is the founding principal of Cipperman Compliance Services. CCS helps advisers, broker-dealers, and funds safeguard their businesses against any regulatory risks in this highly monitored business. Their primary focus is on the development, implementation, and operation of specially curated compliance programs to mitigate regulatory risk. The programs include continuous review, testing, training, management, and regulatory response.
Todd’s background and experience in the financial management and financial services industries spans over 25 years. Previously, he served as general counsel of SEI Investments which is a public mutual fund and financial technology firm, as well as its $65 billion proprietary mutual fund family. Todd has worked with a gamut of investment management clients with the focal point on distribution issues facing investment managers and broker-dealers. To further add to his excellent repertoire, he also served as the general counsel of one of the largest international equity managers.
CCS fills in a gap in that the billable hour, non-committal compliance consulting model left behind. Clients felt dissatisfied with their generic advice that was based on public SEC statements with near to no implementation of compliance policies. CCS provides a solution to all of the aforementioned problems. The firm provides an accountable, at a fixed price and a hands-on outsourced compliance officer solution.
Stacey Gillespie is a senior member at Cipperman Compliance Services and has been designated the Chief Compliance Officer at Avestar Capital. One of Avestar Capital’s most valued people, Stacey is a key member of the firm’s management team and integral to overseeing the company’s business and practices and ensuring that they are fully compliant with regulatory requirements. With over 16 years of experience, Stacey brings to the table a whole range of knowledge which enables Avestar Capital to have effective policies in place.
Furthermore, a seasoned financial professional and an experienced advisor, Kishore Mirchandani, now oversees the entire internal compliance function as a key member of the firm’s Audit and Risk Committee. Kishore comes with a strong background as CEO at TMA group, which provides fractional C-suite advisory services, and as a board member at ComplyGlobal, which offers compliance management solutions. Kishore oversees the finance and legal aspects of the business along with compliance. He has built several businesses as an entrepreneur himself including compliance companies. He leads the weekly compliance meetings at Avestar to ensure that the firm and all its businesses are meeting compliance regulations. Previously, Kishore served as the Head of Strategy at Avestar Capital and therefore is aware of all the business that is being undertaken and comes in with a lot of perspective from his end.
Financial advisors are required to adhere to rather strict demands of state and federal regulators which can lead to complicated compliance issues. Regulations are always evolving and this further adds layers of complexity that financial advisors must navigate. Therefore, services such as those offered by Cipperman Compliance Services are especially crucial for independent advisory platforms like Avestar Capital. It can be difficult to keep pace with the ever-changing rules and regulations and having a dedicated and accountable resource at the helm incites more trust in clients.
Avestar Capital is committed to their clients and shareholders alike to attain the best practices needed to support the growth of business efficiently and profitably and help clients continue to grow their wealth. Hiring CCS, as well as Stacey, is a measure undertaken to further strengthen the procedures and systems at Avestar Capital to support the firm’s growth over the last few years. With CCS and Stacey bringing in a depth of services, the firm is excited to design powerful and compliant financial solutions for their customers.
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