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Onboarding a mandate: a compliance-first checklist

A practical onboarding sequence for a new family-office mandate that puts compliance first without slowing the client down.

The FLIORE Compliance Desk
Family-office compliance research
6 min read
Updated 2026-07-01
Key takeaways
  • Onboard the entity, surface the UBOs, verify and screen — in that order.
  • Capture source of wealth early; it is hardest to reconstruct later.
  • A clean onboarding record is the foundation of every later review.

Sequence

Verify the entity (KYB), map its structure, surface every UBO, verify each person (KYC), and screen for PEP and sanctions. Capture source of wealth and funds while the client is engaged — it is far harder to reconstruct months later.

Build the record

Everything you gather becomes the baseline for periodic review. A structured, evidenced onboarding file means later refreshes are quick; a thin one means every review starts from zero.

FAQ

Can I onboard before completing screening?
Risk-based — but a documented rationale is essential if you proceed.
Sources
  • FATF CDD standards
  • EU AMLR

Related guides

KYC vs KYB: what a family office needsOngoing monitoring, not one-time checksSource of wealth vs source of funds

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Onboarding a mandate: a compliance-first checklist · FLIORE