Docupace Compliance TRACKR™ Simplifies Complex, Expanding Advisor Compliance Requirements

Wealth management firms use the digital delivery tool to ensure clients receive RegBI (Form CRS), Form ADV and DOL Rule disclosures

LOS ANGELES , June 23, 2022Docupace, the leader in cloud-based fintech digital operations software for the wealth management industry, is evolving the Docupace Platform’s Compliance TRACKR technology to comply with expanding disclosure delivery requirements in an ever-changing regulatory landscape. Compliance TRACKR now includes end-to-end processing, tracking, storage, and audit functionality to meet all current disclosure requirements with a “digital first” mindset.

“The increasingly complicated disclosure requirements for financial advisory firms require them to deliver a nearly unending stream of information to clients,” says David Knoch, chief executive officer at Docupace. “Firms needed a way to simplify this process, so we created a simple solution that takes the fear of non-compliance off the table. Simply put, this offering gives time back to financial advisors, easing the burden of onerous regulatory requirements and the costs associated with them, to focus on building and delivering well-executed financial plans – to their existing and potential clients.”

The Compliance TRACKR takes the complexity out of compliance by providing financial advisors and clients with a fully digital disclosure experience, automating workflows and storing client files in a format required by FINRA and the SEC. The solution saves time, money and effort for financial advisors and their firms while keeping them in compliance with burdensome disclosure requirements.

Customer Impact of Utilizing the Compliance TRACKR:

  • On average, users have spent 65% less time processing disclosures
  • On average, users save $7.75 per disclosure delivered electronically
  • TRACKR has saved firms over $2.1 million in operating expenses since July 2020


Launched in 2020 to help firms with Reg BI (Form CRS) disclosure requirements, the recently enhanced solution has delivered meaningful results during its first two years. Firms are leveraging the Compliance TRACKR technology to facilitate the digital delivery of disclosures connected with several new, upcoming and expanding industry regulations, such as the DOL’s Investment Advice Rule, the SEC’s Regulation Best Interest (Form CRS), FORM ADV delivery and more. The new capabilities allow for simple, easy delivery of required disclosure documents, informed consent and other important disclosures.

The Compliance TRACKR “digital first” approach has resulted in a massive expansion of digital disclosures by client wealth management firms. Digital disclosure delivery volume has skyrocketed from 28,111 items in 2020 to an expected 155,392 in 2022, with only modest increases in mailed and in-person disclosure deliveries over the same period.

Both the solution and the people behind its creation have harvested industry acclaim in recent weeks. Compliance TRACKR was named a “Wealthies” Finalist in technology compliance category for the’s 2022 Industry Awards. In addition, Richard Thoeny, VP of Product Management and product development team lead for the Compliance TRACKR, was recently recognized as one of the Top 25 Software Product Executives of 2022 by The Software Report.

“The Compliance TRACKR solution doesn’t just electronically deliver disclosure documents,” says Thoeny. “The solution ensures the client receives them by utilizing a proprietary ‘digital first, analog second’ client attestation process. Disclosure deliveries are time stamped for all report and audit trail needs.”

Solving New Prohibited Transaction (PTE 2020-02) Disclosure Requirements with the Docupace Compliance TRACKR

After several delays and adjustments, the first phase of the DOL’s Investment Advice Rule, Prohibited Transactions Rules (PTE 2020-02), went into effect on Feb. 16, 2022. PTE 2020-02 broadens the definition of fiduciary and places additional scrutiny on clear, documented disclosure when recommending IRA rollovers and other investment actions for retirement accounts.

The DOL established a “transition period” in early 2021 to provide time for wealth management firms to implement new processes to comply and carry out the first of these “nonenforcement periods” that have introduced new documentation and disclosure requirements. The transition period expired on Feb. 16, 2022.

The complete rule in its entirety is currently slated to become effective on July 1, 2022. In addition, industry compliance experts believe the DOL will continue expanding fiduciary requirements, such as reviving the five-part fiduciary test, in the coming years and months.

See how the Compliance TRACKR can simplify disclosure compliance

About Docupace

Docupace is a solutions provider focused on digitizing and automating operations in the financial advice and investment industry. Financial services firms use the Docupace Platform (a cloud-based, integrated software suite) to reduce back-office expenses, improve efficiency, strengthen recruiting, and enhance the experience of advisors and investors. With headquarters in Los Angeles, California, Docupace is proud to serve some of the largest independent broker-dealers and registered investment advisers (RIAs) in the financial services industry. The company won the 2021 Gold Globee® Award for “Hot Technology of the Year” and was named to 2021 Inc. 5000 list of the nation’s fastest-growing private companies. For more information, please visit

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