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Asset and Wealth Management

The Fund, Asset and Wealth Management sectors in Europe have had to deal with significant change in recent times, driven by a blizzard of acronym-laden regulations from UCITS to AIFMD to FATCA/CRS and MiFID II, which came into effect in January 2018. MiFID II (The Markets in Financial Instruments Directive II) has hit the industry with increased regulatory costs and seems likely to encourage investors into lower cost products. This represents a very challenging pincer attack on the industry.

Along with this, the new Senior Manager regime (SMCR) is due to be implemented in the Asset Management industry by the end of the year.  This new regulation combined with other significant changes in recent times has hit the industry with increased regulatory costs and risk.

Is now the time for Asset and Wealth Managers to invest for the future, to ensure that they can achieve and maintain the highest levels of compliance and risk oversight of their cash operations and CASS 7 compliance in the most operationally efficient manner?

We have identified five key challenges facing the cash operations and finance teams in the Asset and Wealth Management industry:

  • Onerous regulatory and trust requirements for Client Money protection and segregation
  • Lack of accounting control
  • Settlement and allocation of customer cash
  • Managing multiple bank accounts
  • Maximising returns-effective treasury management

This brochure details how we help Asset and Wealth Managers significantly and rapidly augment the service offered to their clients by improving Client Money compliance, process efficiency, risk monitoring and accounting without requiring a wholesale replacement of legacy systems.

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