Foreside buys New York-based Alaric Compliance Services

13 December 2021 2 min. read

Foreside, a governance, risk, and compliance (GRC) consultancy focusing on asset managers, has acquired Alaric Compliance Services, a New York-based compliance consulting firm.

Founded in 2004, Alaric works with private credit, private real estate, and other alternative asset managers, advisors, broker-dealers, and private fund managers. The firm has specialized compliance advisory expertise in the Advisors Act, the Investment Company Act, FINRA, NFA/CFTC, and internal investigations. Alaric also helps clients implement compliance monitoring and testing software, including Employee Code of Ethics Compliance Monitoring software.

Alaric has more than 20 employees, according to LinkedIn.

Foreside’s acquisition of Alaric will strengthen the firm’s growing broker-dealer, alternatives, mutual fund, private credit, and ETF compliance practices.

Foreside buys New York-based Alaric Compliance Services

“We’ve known Alaric Compliance Services for a long time and have been impressed with the business they have built,” said David Whitaker, president of Foreside. “They share our mission for hands-on, customized service, and we are thrilled to welcome them to our team.”

The deal arrives in a year of significant expansion at Foreside. The Portland, ME-headquartered firm was in September sold to Genstar Capital following the bolt-on of four consultancies in 2021, including Hardin Compliance Consulting. Genstar afterwards merged Foreside with New York-based ACA to create one of the largest financial services GRC consulting firms in the US.

Foreside today has more than 1,110 employees in the US, UK, and Malta. The firm provides GRC advisory and technology solutions to asset and wealth managers, including platforms to automate and simplify compliance and marketing for clients.

“Joining forces with Foreside provides a chance for our team to springboard into greater opportunities,” said Guy Talarico, founder and CEO of Alaric Compliance Services. “Their offerings and expertise really expand upon our own nicely, and we’re glad to continue maintaining our close relationships with clients.”