IFA Operating Model UK Wealth Manager

Client Challenge

The Client provides Financial Planning and Wealth Management services. ​

The client was keen to investigate options for:​​

  1. What could be done to simplify their operating model while ensuring that client, adviser, and regulatory obligations are met

  2. What is needed to achieve this objective

What We Did

  • Analysed the operating model in terms of the client journey, ensuring a shared understanding of the logical process steps and the roles of both Advisors and Clients​
  • Met with key stakeholders to understand their requirements​
  • Mapped the process steps and controls against current and anticipated regulatory requirements​
  • Documented our findings and recommendations. This was an iterative approach incorporating regular discussions with the client including testing against specific client cases​
  • Produced a report covering:​
    • Relevant regulatory considerations, described in business terms​
    • The recommended operating model, including external (customer) and internal (Compliance, Sales, cost) stakeholder benefits​
    • Activities to implement the mode

Outcome & Results

  • The approach helped to ensure that the client team leading this was an integral part of the design of the future operating model​
  • They owned the agreed solution and could articulate and discuss it with all internal and external stakeholders​
  • The client used the TORI report to support its stakeholder discussions

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