For independent wealth managers
Compliance software for independent wealth managers
Updated: · Leutrim Miftaraj, FLIORE · Editorial standards · Other languages: Deutsch · Français · Español
Short answer
Independent wealth managers must document client due diligence, risk assessments and periodic reviews in a way that supervisory organisations and auditors can follow. Compliance software brings client files, beneficial owners, deadlines and decisions together and records every change. FLIORE supports this with KYC files, a compliance calendar, four-eyes approvals and an audit trail.
The obligations in brief
Since the Financial Institutions Act entered into force, independent wealth managers in Switzerland require a FINMA licence and are supervised by a supervisory organisation. In addition, the Anti-Money Laundering Act requires identifying clients, establishing beneficial owners, risk-based clarifications and documentation that third parties can follow.
For a small team, the challenge is less the rules themselves than keeping evidence complete and current for every client.
What FLIORE offers wealth managers
- KYC file per client with beneficial owners, documents and validity dates.
- Risk assessment with country, industry and PEP factors and a written justification.
- Compliance calendar with periodic reviews and deadline notifications.
- Document requests to clients through the portal, with evidence of delivery.
- Four-eyes approvals and an immutable audit trail for every change.
Working alongside existing systems
Many wealth managers already use a portfolio management system for trading and rebalancing. FLIORE complements it: it does not replace the trading system or financial accounting, but runs client files, due diligence, documents and deadlines. The database and documents are stored in Switzerland (Zurich region); application hosting runs on EU infrastructure.
Today and with FLIORE
The comparison shows where a small wealth management team typically gains time and certainty.
| Task | Typical today | With FLIORE |
|---|---|---|
| Client files | folders per client | KYC file with beneficial owners and validity dates |
| Risk assessment | form without history | factors, rating and justification with audit trail |
| Periodic reviews | reminders in a calendar | compliance calendar with deadline notifications |
| Missing documents | requests by email | document requests in the portal with evidence |
Preparing for the annual audit
Supervisory organisations and audit firms review whether due diligence was carried out consistently across all clients. The effort often lies in collecting evidence: which documents were checked, how the risk was rated and whether reviews were completed on time.
With FLIORE, this evidence is created as part of the daily work. Each client file shows its status, open tasks and the history of every assessment, so preparing for the audit becomes a review rather than a search.
Frequently asked questions
Does FLIORE replace my portfolio management system?
No. FLIORE complements it with client files, due diligence, documents, deadlines and approvals.
Can supervisors follow risk assessments?
Yes. Factors, rating and justification are stored, and every change is recorded in the audit trail.
How are periodic reviews tracked?
Through the compliance calendar and tasks with deadline notifications for the responsible person.
Where is client data stored?
The database and documents are stored in Switzerland (Zurich region); application hosting runs on EU infrastructure.
Sources
- Swiss Financial Institutions Act (FinIA/FINIG, SR 954.1) – Fedlex
- FINMA – Portfolio managers and trustees
- Swiss Anti-Money Laundering Act (AMLA/GwG, SR 955.0) – Fedlex
- FATF Recommendations – Financial Action Task Force
This page provides orientation and does not replace legal or tax advice. The cited legal sources in their applicable version are authoritative.
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