Compliance is essential, but not every task inside a compliance framework adds value. Advisers frequently describe processes that generate paper, tick boxes and repeated data entry without measurably improving client outcomes.
Questions to focus the discussion:
- Which compliance tasks in your firm feel disproportionate to the risk they address?
- Where have you managed to simplify a process without weakening control?
- Which pieces of technology have made the biggest genuine difference?
General experiences are more useful than specific firm processes. Please avoid presenting anything here as regulatory advice.
One request before you reply: please describe what you have actually seen rather than what is generally said to be true. Broad claims about what advisers think are far less useful than a specific, anonymised observation, and firms should always take their own compliance view on anything discussed here.