Member Profile: Joot
Organization Name: Joot
Location: Cincinnati
Industry: Financial Advisory Industry / FinTech
What We Do:
At Joot, we're building automated compliance tools for SEC-registered investment advisers. Our goal is to make it easier and more cost-effective to meet SEC regulatory requirements. Our integrated technology modules offer chief compliance officers (CCOs) user-friendly, smart solutions that simplify and automate repeatable tasks, saving both time and money. For example, an automated compliance calendar—integrated with an automated document and testing manager—helps CCOs schedule and execute on all their compliance activities, deadlines, and deliverables in one place. We also offer tools that help oversee employees’ personal trading accounts. With automated tools like these, investment advisory firms can focus on what they do best—providing investment guidance in a compliant environment.
Joot also offers a range of consulting and compliance services to complement our technology. On the consulting side, we can help with new entity formation, mergers, and acquisitions. We can even help firms evaluate their technology needs or develop new applications.
As for compliance, depending on a firm’s business structure and internal resources, we tailor the level of compliance support we provide to meet the firm’s needs and the adviser’s growth strategy. We can manage a single compliance project, an entire compliance program, and anything in between. We believe that technology is a tool that people use to serve their needs. Our services and technology work hand in hand to get compliance done for firms with various needs and preferences.
What’s a Trend You’re Seeing/Prediction for the Future:
Machine learning models and artificial intelligence (AI) are the next areas of development for compliance technology. AI can both anticipate and help meet the needs of firms and their clients. Like our automated compliance tools, AI can also facilitate regulatory compliance tasks in ways that help advisers reclaim their schedules, allowing them to focus on other tasks and client relationships that matter the most. We’re starting to scope and design features that leverage AI to take our applications to the next level—automating 80% of compliance tasks.
A Problem/Challenge We Are Working To Solve:
Investment advisory firms often face the challenge of aligning complex business requirements, like regulatory compliance, with actual operations. Complicating factors include a lack of efficient tools, insufficient time to manage compliance, and a lack of expertise. At Joot, we’re working hard to provide the tech tools needed to save time and increase efficiency.
Organization Slogan:
Consider it done!
Why is Ohio is a great place to do business?
Ohio is a talent and innovation hub. We’re excited to be a part of the growing Ohio tech economy, which is supporting several new startup endeavors and other initiatives that capitalize on all the great things Ohioans have to offer. Since we started in 2018, we’ve formed strong partnerships with Queen City Angels, Cintrifuse, and universities such as Miami University and University of Cincinnati. So far, all the talent and support we need is located right here in Ohio.
For more information about Joot, please visit https://joot.io/