Threesixty, the UK compliance firm, has expanded its range of services to help wealth managers and discretionary fund managers in the new regulatory environment shaped by the Retail Distribution Review.

The firm said it has been working with a number of clients in the DFM and wealth management sectors to ensure that its business model isn’t exposed to unnecessary risk.

At present it supports 23 firms with or currently acquiring discretionary permissions throughout the UK, and made key hires last year to support its new offering.

The firm highlighted how, for wealth management firms, varying permissions to run portfolios on a discretionary basis has many attractions, but that gaining and maintaining them is complex.

“We believe that 2013 will see more focus on the issues highlighted in the FSA’s ‘Dear CEO’ letters to wealth managers in 2012,” it said.