For those running smaller funds with a predominantly retail investor base, what's your approach to AML checks? I'm getting bogged down in what feels like overkill for some clients, but obviously don't want to miss anything critical.
It's a tough balance. For retail, have you explored leveraging third-party KYC/AML providers? Sometimes outsourcing that initial layer can streamline the process without sacrificing compliance, especially if they integrate well with your existing onboarding flow.
We've found a tiered approach works best, with simplified initial checks for smaller retail investments and more in-depth due diligence kicking in at higher thresholds or for specific red flags. It helps balance compliance with operational efficiency.