Tens of thousands of individuals around the globe are now using the free CCO Companion app. This revolutionary app provides users (investment advisers) with the necessary resources and information they need to fulfill their regulatory and compliance requirements. Digital Compliance, LLC, announced the release of the app in March 22, 2016. The app combines dynamic compliance tools and critical regulatory information that help an investment adviser to be current with matters of compliance obligations, and the best way to manage them.
This app is 66.5 MB large and developed in English. It has 3 major components: customizable compliance Tools, a compliance Reference Library, and real-time News and Alerts. The unique feature about the reference library is that documents are collated prior to library addition. They are then assessed and analyzed by compliance professionals for relevance before addition. The app has brimming alerts and news to keep advisers on the edge. The app is compatible with iOS 8.1 or later versions. You can explore customization features, bookmark or save documents for your library, search a database and get informed. Sharing is caring and that is why CCO has a dedicated share button to other links.
Pros and cons
This applications offer a lot of benefits to the user besides being free. It is comprehensive enough since it culls out the best and relevant compliance areas. Furthermore, it only provides information from all reliable. Its relevancy mark is at peak since all materials added to the library are ascertained by compliance experts.
CCO Companion is a utility app as it offers tests, questions and training materials that help and adviser to be more diverse in the field. It also covers examinations from all regions that you can obtain to prepare for the inevitable professional examination.
Customization is an important element to an application, whether in terms of settings and usage or uploading your own stuff and reviews. The app lets you upload your own compliance documents for appraisal.
As much as the app is a free download with lots of goodies, it falls short of praise when it comes to accessing the most critical elements. For instance, you must subscribe with a hefty fee of either $299 for 6 months or $499 per annum. This ludicrous professional subscriptions are also terminated ineffectively since the app auto-renews the subscription from iTunes without your consent. The constant trickling of alerts, feeds and other incoming data can be bugging to the user.
There are other many entities you will buy alongside the subscription like Code of Ethics, Compliance Policies and Procedures Manual and a Model Anti-Money Laundering Plan. All these purchases make the app rather expensive to use. Even though the app is prime for use, it is bundled with so much data that can be overwhelming and confusing, it has a plethora of categories of information plus the information.
Final verdict and opinions
This application should be cross-platform to cater for all advisers who need to use the app. CCO is a must-have-app to any budding or experienced investment adviser. It opens all the possibilities and the nitty-gritty about compliance. The subscription fee should not make the app untouchable, instead, invest heavily on the companion app as it entirely provides everything concerning your career. It is a worthwhile musk-keep app.
