Asset Management / Investment Management
Whether dealing with institutional or private investors, the business model of asset management can entail low volumes of high-value customers.
Managers need to have a deep understanding of their clients in order to maximise the potential returns on their assets. This means that the cost of compliance when onboarding a new customer can be high and the process cumbersome. Ineffective screening systems can negatively impact customers’ experience; inadequate due diligence processes can result in repetitive and intrusive requests for information, as well as delaying the opening of new accounts.
As the sector welcomes diversification, new asset classes such as digital assets and art bring new compliance challenges, and resources can be thinly stretched when navigating different regulatory regimes across jurisdictions. Whether your firm focuses on a traditional portfolio, or is seeking to diversify through alternative assets, the current global trend towards stricter regulatory oversight can increase the cost of compliance. Carrying out due diligence on complex corporate structures can be a time-consuming and resource-intensive task, leaving you exposed to a number of financial crime risks, including:
- Sanctions risks, especially with PEPs
- Money laundering, e.g. through:
- offshore trusts / companies
- customers from higher-risk countries
Uplifting your financial crime controls and investing in new RegTech solutions that help firms to harvest existing open-source data can positively impact your bottom line by reducing the costs of compliance and boosting its efficiency.
Our asset management experience
Plenitude has an established track record in assisting asset management clients to proactively assess the effectiveness of their existing Financial Crime Compliance framework, systems and controls, and implementing the required enhancements as part of S166 review or independent assessment, to mitigate the risks highlighted above. We also have supported multiple firms post regulatory review, to advise on the response plan and support the successful implementation of the required enhancements as part of a remediation or transformation programme, including large-scale KYC remediation as part of our Managed Service offering.
We have worked with a variety of institutions in the sector, from boutique firms to global financial institutions, as well as new firms seeking authorisation.
Our approach, benefits and outcomes we deliver
We understand that all firms’ business activity, customer base and risk appetite will differ. We therefore work closely with our clients to develop a deep understanding of their business and FCC framework in order to develop an effective, proportionate and risk-based approach to financial crime risk management.
Plenitude’s services and capabilities are grounded in our multi-jurisdictional expertise, our proprietary suite of tools and RegTech products, and our deep understanding of sector-specific regulatory obligations and needs. This enables us to deliver the following benefits and outcomes to our clients:
-
Market-leading advisory, transformation and technical expertise with tech-enabled delivery:
our full-service offering enables us to meet all of our clients’ needs. Our tech-enabled delivery approach leverages our extensive suite of proprietary tools and RegTech products which enables us to accelerate delivery and reduce overall engagement costs.
-
Regulatory compliance and assurance:
we enable clients to fully understand and meet their regulatory obligations, along with the ability to present robust documentation to demonstrate their conformance with regulatory requirements.
-
Enhanced efficiency, effectiveness and cost reduction:
our tech advisory, data analytics services and RegTech products enhance efficiency, optimise detection accuracy, streamline workflows and reduce false positives, leading to improved effectiveness and significant cost savings.
-
Access to cutting-edge technology and future-proofed compliance:
we enable our clients to stay ahead of evolving regulations and criminal tactics by optimising current systems and controls, deploying the latest AI-powered technology and data analytics services.
-
Compliance transformation:
we partner with clients to transform their entire compliance function, fostering a culture of data-driven decision-making and continuous improvement.
Our Services
Our capabilities address the entire spectrum of financial crime risks and, as a full-service provider, we can meet all of our clients’ needs in order to deliver a truly integrated consulting service. We can assist with a wide range of needs, including independent assessments, policy and standards enhancement, risk assessments, specialist tech and data support, and remediation and transformation program design and execution. No matter what the requirement, we are here to help.
Discover more about our services and see why our integrity, passion and delivery excellence have been praised by so many clients.
Data Analytics Services
Data quality, siloed systems, and the ever-evolving tactics of criminals make effective data analysis a constant battle. Firms need to break down these silos to get a holistic view of customer activity and identify hidden patterns that might indicate a financial crime threat.
Our specialists
Daniel Keay
Senior Executive
Jesal Punjani
Senior Executive
Manuel Fajardo
Head of Digital Assets
Tom McKay
Head of Data Analytics
Alex Brennan
Senior Manager
Alex Statham
Senior Manager
Christopher Duffy
Senior Manager
Graeme Ford
Senior Manager
Paul Mclear
Senior Manager
Stuart Phillips
Senior Manager
Sean Bresnahan
Manager
Simon Hancock
Manager
Related articles
Get in touch to speak to the team or to request a demo
Our best-in-class team are committed to building a secure financial system, safeguarding society, and empowering our clients to meet their regulatory obligations.
Contact Us