Brand Knowledge

Helping Firms Adapt to a Changing Regulatory Environment

Published on February 28, 2017 14:00

Wealth management firms face a regulatory environment that is increasingly complex. Regulations such as the DOL Fiduciary Standard in the US and Client Relationship Model Phase 2 (CRM2) in Canada require that firms put their clients' best interests first, and increase transparency around investments, including performance and costs.

The mandates set forth by these regulations impact wealth firms' risk profiles and overburden advisors: 34% of advisors view heightened regulation, disclosure, and compliance as the greatest risks to their business in the future and 56% of wealth management firms report that the amount of time advisors spend on compliance-related tasks significantly increased when compared to time spent three years ago.

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