What do wealth advisors use for high value client verification?
I work with clients where a single instruction can involve serious amounts of money. One thing I keep thinking about is how we verify the actual person when they aren't sitting across from us. We have secure client portals and callback procedures. For some things we can require signed documents. But a portal still relies on someone having the right login and a callback relies on the phone number we have on file.
It gets even messier when a client has a PA or family office handling half their communication. For anyone working in wealth management or private banking what do you use to confirm the actual client before acting on a high value request? Looking for something beyond the usual callback and login checks so please keep the common tips out!