Ahead of the Game - Meeting evolving client expectations

Wealth Management and Private Banking

08 June 2023

Client ExperienceConsumer DutyCustomerGoals-based planningMeeting of MindsWealth Management and Private Banking

Expert: Iwan Schafthuizen, MSc Facilitator: Shelley Doorey-Williams


  1. A holistic approach based on what the client wants to achieve is key to meeting their evolving needs
  2. Cash flow planning is important, as well as buildings in certain scenarios, in order to visualise the cashflows
  3. Ongoing monitoring of the client’s goals, to make sure that external events have not impacted them too much
  4. There is an increased evidential burden triggered by Consumer Duty, to show that the recommendations are produced to meet client goals
  5. Firms have found difficulty in re-allocating funds between goals as well as confirming the priority of goals
  6. There are concerns about the achievability of people’s goals, as they over-estimate their ability to spend and what is achievable with their asset base