Wealth Managers are under both regulatory and budgetary pressure:
- Anti-Money Laundering: there is no let-up in the pressure to ensure customers and beneficial owners are identified while their transactions are closely monitored.
- Product Due Diligence: wealth managers have to undertake more due diligence on the products they are offering their clients, not just recommending suitable products but ensuring they perform as expected.
- Know Your Client: understanding clients’ investment objectives is critical for any wealth manager, and these requirements have to be formally evidenced and periodically updated.
GRC-Maestro can be used as a quick and efficient GRC solution for Wealth Managers to meet their legal and regulatory requirements.