FAQ

Copacetic Strategies is an advisory firm dedicated to providing clean, comprehensive, and effective solutions to the risks faced by cannabis businesses, their vendors, and financial institutions. We provide services in three practice areas: 

• Cannabis-related financial services
• Cannabis enterprise risk and compliance
• Ancillary risk and compliance

Within each practice area, we bring together former cannabis regulators and proven risk-management professionals to access precision expertise in the complex cannabis-related business environment.

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We were founded by the only person to lead a team of compliance investigators in Colorado’s first-in-nation commercial cannabis regulator and head a cannabis-specific financial institution’s Bank Secrecy Act and Anti-Money Laundering compliance department. The expansive knowledge gained from working on both sides of the cannabis banking conundrum means that Copacetic Strategies is the most qualified advisory firm on the market. Click here to learn more about our team.

We are the only cannabis and financial-related firm that has proven knowledge in both regulated cannabis and high-risk financial product compliance. The combination allows us to access insights and perspectives that other firms simply cannot match.

Copacetic Strategies’ value proposition to clients revolves around three central themes: 

1. The unique blend of cannabis regulatory and financial services experience embodied by our leaders and team
2. Solutions that integrate available guidance and manuals issued by relevant regulatory authorities
3. Strategic perspectives that balance risk, cost, and sustainability

By engaging Copacetic Strategies, clients are assured that experts are working on their behalf to navigate cannabis-related complexities. Instead of being immobilized by unique challenges, uncertainty, and fear, our clients can operate and grow their businesses confidently knowing that our solutions are the right strategy for success.

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Businesses working in or with companies in the cannabis industry are exposed to a high level of risk due to multi-level, complex, and evolving regulations. Performing a risk assessment identifies areas needing improvement and provides best practices for companies in the space.

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Performing a risk assessment identifies risk areas and drivers beyond compliance with state-level cannabis regulations.  This helps the business prioritize resource deployment to manage and mitigate risks based on the probability and impact of a risk event occurring. Additionally, supplying the risk assessment to financial institutions and investors provides an independent review of the business that boosts confidence that appropriate measures have been implemented to manage risks. A risk assessment strengthens any cannabis business’ capacity to successfully engage with financial institutions and investors.

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Copacetic Strategies understands that most financial institutions have limited resources to devote to weighing the costs, benefits, and risks inherent to serving cannabis businesses. Unfortunately, that reality often leads to hasty decisions that deprive the institution of the phenomenal growth that serving cannabis and its ancillaries can generate. The Cannabis Suitability Review provides a detailed assessment of the institution’s preparedness for serving the cannabis ecosystem without drawing on internal resources. With the Cannabis Suitability Review in hand, financial institution directors are appraised and informed about the resources required to stand up a Cannabis Expansion Pilot or banking program. They are empowered to make a data-driven decision regarding extending services to the cannabis ecosystem.

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When working in the cannabis industry, it is important to conduct due diligence to ensure your vendors take security seriously, manage risk appropriately, and protect sensitive information. Creating a vendor management program can help you measure your vendor’s performance to determine if they are providing the quality of service that was promised and evaluate the value-add vs. cost of each vendor you work with. Vendor management programs also assist with reducing risk for both you and your company. They help with tracking insurance, need and quality so you can properly evaluate the benefit of continuing your relationship with them. This can be especially needed when working with cannabis businesses.

Click here to learn more about how we help ancillary cannabis businesses.