WDX, a wealth management tech firm, has reported a 700% rise in revenues over the past 12 months driven by technological and cultural change demanded by conduct risk regulations for the UK’s wealth management sector.
The company is expecting further growth in the next year as it boots its portfolio of wealth and investment management clients.
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In the past12 months, WDX has increased its workforce from three to more than 30 employees.
In addition, it has also shifted to new offices in Shoreditch, London as well as opened an office in the Boulevard Royale in Luxembourg to cater it growing European client base.
Gary Linieres, CEO of WDX, said: "In light of significant change in the industry from the UK regulator, wealth managers are under more pressure than ever before to ensure compliance.
"Conduct Risk Management is a huge but necessary regulatory responsibility on the UK’s wealth management sector and customer protection is now both a cultural and technological challenge as much as compliance issue.
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By GlobalData"WDX’s growth over the past 12 months has been fantastic and we are receiving positive recognition in the market. However, what pleases us most is getting firms such as Charles Stanley PLC on our solution quickly and watching them realise positive change in their business," he added.
