Global

Wealth management: leveraging compliance and risk management for strategic advantage

Bruce Weatherill, global leader, wealth management services, PricewaterhouseCoopers

How to turn risk management into a strategic advantage will be a key task and an important differentiator for wealth managers over the next three years. This is equally important for both onshore and offshore jurisdictions, as well as for the companies that operate within them. To truly ‘know your customer’ (KYC) for regulatory purposes creates an outstanding opportunity for wealth managers to deepen their customer relationships, at a time when many customers are cutting down the number of wealth managers with whom they deal. KYC is not a problem for wealth managers, it is a great opportunity.