Compliance Testing – Protecting Client Assets

Some testing to assist you in protecting your client assets:

1. Are clients actually receiving their custodial statements.  Ask clients during meetings to bring their statements.

2. When receiving an account transfer, wiring instructions or a check request from a client – how do you confirm the request is from the client?  If received via email, do you just accept it or do you have another means in which to verify the request?

And remember to document it all.


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