Asset ManagementCompass CFO Solutions Client Base Surpasses $20 Billion in AUM

FTB News Desk FTB News DeskFebruary 12, 20198 min

Compass CFO Solutions, LLC, the wealth management industry’s leading provider of outsourced CFO and accounting solutions, announced today that the firm has hit a key milestone and is serving client firms that have a combined $20 billion in Assets Under Management. By providing tailored solutions to the wealth management industry, Compass has achieved substantial growth in the last two years as more and more financial advisors have turned to outsourced solutions as they transition from traditional wirehouse settings to independent firms.

“We founded the firm in early 2017 after witnessing a need for cost effective and highly efficient professional services so advisors could focus on growing their businesses and not on financial administration,” said Damian Lo Basso, founder and CEO of Compass CFO Solutions. “Our technology-based experience and sole focus on the wealth management industry separates us from the competition. We offer a custom experience, while providing advisors with key updates and institutional guidance they otherwise would be required to seek on their own.”

In addition to an expanding client base, Compass recently partnered with Charles Schwab to provide important advice on recordkeeping requirements and best practices for investment advisors. Mr. Lo Basso recently co-authored Charles Schwab’s latest Q4 2018 white paper on Books and Records. “Instead of viewing recordkeeping as a duty necessary for preventing negative consequences during an audit, successful firms acknowledge that an organized and integrated recordkeeping system saves them time and resources.” The paper goes on to say, “advisors can experience the power of proper recordkeeping by referencing records to make effective decisions.”

Compass also formed a strategic partnership with Merchant Investment Management, a private partnership providing growth capital, management resources, strategic opportunities, and direction to independent financial services companies.

“We partnered with Compass because it offers a 100% virtual outsourced CFO solution that is truly unique to wealth managers,” said Marc Spilker, Merchant’s executive chairman. “Compass provides a 21st century solution to create needed efficiencies in the space. We are excited about our partnership with Compass and the value that our firms will create together.”

About Compass CFO Solutions, LLC:
Compass CFO Solutions, LLC is the wealth management industry’s leading provider of outsourced CFO and accounting solutions. Founded in early 2017, the firm offers a 100% virtual experience customized for the wealth management industry. Compass’ outsourced approach, combined with its best in class technology suite and industry expertise, allows Compass to manage the accounting and finance functions of newly founded firms or complement pre-existing teams. To learn more about Compass, please visit

About Merchant:
Merchant is a private partnership providing growth capital, management resources, strategic opportunities and direction to independent financial services companies, particularly those focused on wealth and asset management. By establishing and optimizing business infrastructure, providing access to organic and inorganic growth opportunities, designing and accessing bespoke investment solutions and providing collaborative capital solutions to address a variety of business needs, Merchant helps unlock value and entrepreneurial opportunity for business owners. To learn more about Merchant and the Merchant team, please visit our website at

SOURCE Compass CFO Solutions, LLC

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FTB News Desk

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