The Client provides Financial Planning and Wealth Management services.
The client was keen to investigate options for:
What could be done to simplify their operating model while ensuring that client, adviser, and regulatory obligations are met?
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
Outcomes & 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