AMOSCA is proud to have been a sponsor and speaker at Compeer’s ‘Wealth Management Business Performance’ conference held recently at the Merchant Taylors Hall in London.
The conference explored the current challenges the UK Wealth Management industry is faced with, and discussed the key issues driving business performance of UK Wealth Management companies. A group of guest speakers included the WMA, BBA and the City of London Police, on cyber-crime.
Compeer (www.compeer.co.uk) presented the findings of its annual industry results research, outlining the details of another record year for the UK Wealth Management industry (with Assets reaching a record high of £638bn) and discussing contributory factors such as the shift from Advisory to Non-Managed and Discretionary, the increase in Collectives as a proportion of total assets, the pick-up in XO trade volumes and the rise of Collectives.
Matthew Prior of AMOSCA presented the results of the joint survey recently undertaken by AMOSCA and Compeer into the Wealth Management sector’s preparedness and experiences with CRD IV (COREP/FINREP) reporting. These findings included the fact that the complexity of the regulation and impact of the reporting burden had been generally under-estimated and described how companies had focussed on the data collection and collation process and delayed addressing the validation and XBRL conversion requirements until very late in the process.
AMOSCA, with its Report Authority document authoring tool, is helping a number of financial institutions to address their COREP/FINREP requirements, ranging from large multinational banks to Wealth Managers and Foreign Exchange traders. For more information please visit www.reportauthority.com.
