What happens when wealth managers openly talk compliance?
Last week, a select group of Belgian wealth and asset managers gathered at our headquarter in Ghent for a new edition of The Harmoney Circle. No slides. No sales pitches. Just an open, off-the-record conversation about the realities of compliance today and what’s quietly changing beneath the surface.
What emerged was a set of shared challenges that go far beyond individual firms. Challenges that sit at the intersection of regulation, operations, technology and client experience.
Here are a few insights we are allowed to share.
Key challenges in wealth management at a glance
The conversation highlighted that many operational and compliance challenges are shared across the sector, even if each firm approaches them differently. Administrative workflows, client onboarding, and data collection repeatedly came up as areas where teams are looking for smarter, more efficient approaches. As one participant noted, “It is always a balance between risk management and staying compliant according to the law versus offering clients a smooth onboarding journey without too much paperwork.”
“It is always a balance between risk management and staying compliant according to the law versus offering clients a smooth onboarding journey without too much paperwork.”
The group also discussed adapting processes to evolving regulatory requirements, with ESG preferences and AML updates as key examples. They shared strategies used to stay ahead without overcomplicating internal operations. While specifics remain confidential, the session made it clear that benchmarking, learning from peers, and sharing practical insights can uncover simple but powerful solutions that might otherwise be overlooked.
In short, the discussion confirmed that while the challenges are real, solutions exist, often in the experiences and practices of other firms, and that a safe, open forum is invaluable for discovering them.
The value of open dialogue
From the very first discussion, it was clear how valuable an open conversation can be. Participants shared real-life experiences navigating client onboarding, workflow management, and regulatory updates.
What made the session truly special was the depth of the exchange. Attendees shared tips, tricks, and insights that go beyond standard industry guidance.
Another participant reflected: “It is nice to sit with industry peers and share knowledge about shared challenges that go beyond the competition.” These candid conversations allowed everyone to benchmark their practices, discover new approaches, and leave with actionable ideas, without any sales pitches.
"It is nice to sit with industry peers and share knowledge about shared challenges that go beyond the competition."
The Harmoney Circle remains a place for open, practical dialogue. While not all insights can be shared publicly, the discussions clearly reinforced the value of a trusted, peer-driven forum where participants can compare practices, exchange knowledge, and anticipate upcoming regulatory changes.
The Harmoney Circle brings people together
If you’re curious about how your peers are tackling these challenges and want to benefit from hands-on insights in a safe, confidential environment, the next Harmoney Circle session is not to be missed. Our Circles provide the rare opportunity to benchmark, share, and learn, without sales pitches, with a focus on practical, actionable guidance.
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