Hiring Cipperman Compliance Services and Stacey Gillespie to strengthen and fortify our compliance program

We are an independent global advisory firm and we aim to enhance the value of the business through a robust hiring strategy, culture of excellence and best business practices. At Avestar Capital, we have 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.

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.

We develop and execute integrated financial plans. Since we are entrepreneurs ourselves, we understand the needs of entrepreneurs and seamlessly develop personalized wealth and financial advisory solutions to fit these requirements. We use a mix of technology, ideas, opportunities and people to provide solutions that fulfill the clients’ financial needs. Avestar Capital 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.

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 head Avestar Capital’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. They focus 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 has spent over 25 years in the financial management and financial services industry. 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 wide range of investment management clients with the focal point on distribution issues facing investment managers and broker-dealers. To further add to this repository, he also served as the general counsel of one of the largest international equity managers.

Stacey Gillespie is a senior member at Cipperman Compliance Services and has been designated the Chief Compliance Officer at Avestar Capital. One of our 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. Stacey’s experience spans over 16 years and she ensures that Avestar Capital has effective compliance policies in place.

Additionally, Kishore Mirchandani oversees the entire internal compliance function as an essential member of the firm’s Audit and Risk Committee. Kishore has 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. He oversees the financial and legal aspects of the business along with compliance. Kishore 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 in the industry are always evolving and this further adds layers of complexity that financial advisors must navigate. Therefore, at Avestar Capital, we make sure that we have the best compliance services. Furthermore, having a dedicated and accountable resource at the helm incites more trust in clients.

We are committed to our clients and shareholders alike to support the growth of the 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 range of services, the firm is excited to design powerful and compliant financial solutions for their customers.