RIA In A Box Introduces RIA Compliant Bookkeeping Services

NEW YORK, NY--(Marketwire - Aug 31, 2011) - RIA In A Box (www.RIAinaBox.com), a consulting business aimed exclusively at efficient creation of registered investment advisory firms, today introduces very low-cost RIA compliant bookkeeping services so RIAs can focus on their advisory business and leave the specialized bookkeeping to the firm's compliance experts. This new service joins RIA In A Box's other compliance-related offerings and will be headed up by Damien Scott, the company's newly appointed Director of Accounting.

"Accounting and bookkeeping issues are the number one deficiency in audits for RIAs," said Steven Thomas, director of Lexington Compliance, the ongoing compliance arm of RIA In A Box and a former state auditor. "It is an area of real deficiency and RIAs find themselves written up for not having correct and sufficient books all the time. Soon they may find that jurisdictions will start handing out fines along with the citation, which really starts to hurt."

RIA In A Box will provide professional compliant bookkeeping designed specifically for RIA's needs. The service includes profit and loss statements, balance sheets, general ledgers and transaction journals all managed by Mr. Scott who holds an MBA in accounting, is QuickBooks® Pro Certified and has run his own bookkeeping, accounting and tax practice in San Diego. RIA In A Box's service uses the industry-standard accounting software QuickBooks® to create and maintain the internal books necessary to meet state and SEC compliance standards. In keeping with RIA In A Box's low cost approach, monthly fees for the bookkeeping service start at $39.

"Based on our experience with RIAs and what we know from our compliance director who is a former auditor, we know that RIAs don't focus on their bookkeeping, they focus on offering investment advice. So they get in trouble on this front when audits take place," said Zachary Gronich, CEO, RIA In A Box. "It is much better for RIAs to do what they do best rather than creating and managing compliant books. It makes financial and strategic sense for RIAs to let Damien manage this part of the business for them."

Mr. Scott joins RIA In A Box as its director of accounting and has both a BS degree and MBA in Accounting. As the owner of his own practice in San Diego prior to this new role, Mr. Scott focused on helping small and medium-sized businesses with the full range of accounting, bookkeeping and tax preparation services. He is a Certified Quickbooks® ProAdvisor, a member of the American Institute of Professional Bookkeepers (AIPB) and a Certified Registered Tax Preparer.

"I am very excited to be part of RIA In A Box and provide a business service that is really necessary, particularly as the government becomes much more diligent in its oversight requirements for financial professionals," said Mr. Scott. "RIAs can hand over their books which can be very challenging to maintain appropriately, and know that I will be able to do what needs to be done quickly and efficiently and accurately."

For more information on the new RIA Compliant Bookkeeping, visit www.riainabox.com/other/bookkeep.

About RIA In A Box and Lexington Compliance

RIA In A Box is a consulting business aimed at registration and ongoing compliance for registered investment advisory firms at both the state and SEC levels. It was founded by Zachary Gronich, PFS, in 2005. RIA In A Box has helped create nearly one of every 5 RIAs approved in the US last year and nearly one in three RIAs that was set up with the use of a consulting firm. Since its founding, RIA In A Box has helped over 1300 advisory firms get registered quickly and correctly the first time. For more information, visit www.riainabox.com. Lexington Compliance is the compliance and oversight brand of RIA In A Box, providing advice and guidance to established RIAs registered in all 50 states, Washington, D.C., and with the SEC. For more information, visit http://lexcompliance.com.