Private bank suitability of investment advice and portfolio management

Client type: Well known UK private bank

Regulatory Area: Wealth management – client take-on and suitability

Client summary

The bank needed to re-engineer its client questionnaire, analysis document and suitability reports to increase efficiency and ensure compliance with FCA requirements.

It then launched a new client proposition and we were asked to re-write the Suitable Advice Guide (SAG).


  • Deliver a more effective and efficient client take-on process
  • Formalise how advisers demonstrated their analysis of client circumstances
  • Develop a far more concise, yet fully compliant, suitability report
  • Throughout the process, consider the potential for future automation in the design of each component
  • Re-write all existing guidance taking into account the new take-on process and new proposition
  • Ensure it is easy to read and navigate with clear directional instructions
  • Establish a compliant approach throughout each customer journey.

How we helped

  • We delivered all components – on time – and within budget; by adding our own resource to the bank’s over-stretched internal team
  • We also helped the bank train out the new client take-on collateral in a series of sessions across the bank’s regional offices
  • We worked closely with the major stakeholders in the bank, spending significant time on site to give hands on practical assistance on a day to day basis
  • Working with the bank’s own project managers we were able to ensure we met our deadlines and our deliverables had been through appropriate internal QA and sign-off
  • The average length of a suitability report reduced from over 50 pages to around 15.


The efficiency with which the bank can take clients on and deliver suitable advice has been greatly improved. The next phase of the bank’s project is to automate parts of the process and as the collateral was designed with that in mind our work continues to deliver benefits long after we have completed our part of the project.


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