By Jason Sumner
Setting up a boutique is by no means a walk in the park. Perhaps the greatest challenge a buy-side founder can face is how to set up shop in a fast yet bulletproof way.
A raft of new wealth management businesses have launched over the past few months, suggesting that higher regulatory and compliance requirements do not necessarily represent the barrier to entry that some suggest.
Nevertheless, it can take a long time to set up compliance functions, get authorisations and have the business up and running. This is before it is even possible to start seeing clients.
Outsourcing can speed up this arduous process, but it comes at a cost. So when does it actually make sense to outsource? Alternatively, when is it more logical to bring everything in-house?
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