In design with investment counsel firms Annual KYC review

Arrive at every annual review with KYC already up to date.

We are designing a guided session that clients complete before their annual review. They confirm their KYC information, flag what has changed and say what they want from the meeting. The portfolio manager receives a brief and a timestamped record of what the client confirmed.

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Example · design concept KYC confirmation record Fictional client · Annual review, 14 March 2027
  • Personal circumstances Confirmed
  • Financial circumstances Updated: new employer
  • Investment needs and objectives Confirmed
  • Risk profile Confirmed
  • Time horizon Updated: 5 to 10 years
Confirmed by the client, 2 March 2027Export to client file
The problem

A yearly requirement that takes over the meeting.

Under NI 31-103, registered portfolio managers must update KYC information for managed accounts at least every 12 months. In practice the update happens in the review meeting, or through a form many clients leave unfinished. Time meant for the portfolio goes to confirming facts, and changes such as a new job or an inheritance surface late.

12 months

The longest KYC information for managed accounts can go without an update under NI 31-103.

In the meeting

The update happens in the review meeting.

On an unfinished form

Or through a form many clients leave unfinished.

Surfacing late

Changes such as a new job or an inheritance surface late.

The session

The session we are building.

This design is being shaped with our first design partner and will change as we learn.

  1. 1

    Confirm.

    The client reviews the KYC information on file: personal and financial circumstances, investment needs and objectives, investment knowledge, risk profile and time horizon.

  2. 2

    Capture change.

    Life events, income, and assets held elsewhere since the last review.

  3. 3

    Capture intent.

    What the client wants from the review, what concerns them and the questions they want answered.

  4. 4

    Record.

    Each confirmation is timestamped and can be exported to the client file.

  5. 5

    Brief.

    The portfolio manager receives a short brief before the meeting.

Who does what

The boundary

The session collects and confirms information. It does not assess suitability or recommend investments. Those remain with the registered portfolio manager.

The session

  • Collects information
  • Confirms information

NeverAssesses suitability or recommends investments

The registered portfolio manager

  • The suitability assessment
  • Any investment recommendation
  • Your firm's process and sign-off
Design partners

Help us build it.

We are working with a small number of investment counsel firms to shape this review before it is built.

What partners get

Early access at no cost, a configuration shaped around their own process, and pricing agreed in advance.

What we ask

A few working sessions with a portfolio manager and a compliance lead, and a walkthrough of the current KYC update process.

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Questions

Will it work with our CRM?

We are designing it to sit alongside the systems firms already use, including Salesforce. Integration scope is set with design partners.

Does the client's confirmation replace our own KYC process?

No. It gives your team current information and a record of what the client confirmed. Your firm's process and sign-off stay as they are.

When will it be available?

When design partners are satisfied it works. We will not announce a date before then.