Korean wealth managers have, so far, tackled the mis-selling scandal by strengthening their compliance practices. However, this will not be enough to stop future mis-selling incidents and the consequent loss of trust and reputational damage. We think that banks and securities firms should instead address the core issue and align its interests with those of its clients. To do this, they should set out to raise their capabilities and transform their culture according to the following principles: Be client centric; fully understand product and portfolio risks; and invest in the right capabilities and behavior. Building the capabilities needed to implement these principles is not a short-term undertaking though. We think it could take between 6 months and a year. Wealth managers embarking on this journey might suffer financially in the short term, as they make the necessary investments in tools and talent. In the long run, however, successful implementation of this approach will win back clients’ trust – both by reducing the likelihood of future misconduct and centering their services on clients. That, in turn, has the potential to attract clients and convince them to ask the wealth managers to manage greater portions of their assets, putting them on a path to sustainable growth.