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Date: 23/08/2018

Title: Enforcing Your Advisory Process

Teaser: As HNWIs continue to increase in Asia, is your advisory approach robust enough to outperform competitors and draw in new customers? Learn about Synpulse’s 3 phases to define and enforce an advisory vision.

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Enforcing Your Advisory Process

As HNWIs continue to increase in Asia, is your advisory approach robust enough to outperform competitors and draw in new customers? Learn about Synpulse’s 3 phases to define and enforce an advisory vision.

Author: Rahul Bansal

Currently the APAC High Net Worth Individuals (HNWI) wealth is over 18.8 trillion USD. There are currently over 5.5 million HNWI and their wealth is expected to grow at an annualized rate of over 9% with the target of USD 40 trillion by 20251. This growth has attracted competition and complexity to the private banking industry requiring both traditional and non-traditional service providers to rethink their value proposition to maintain their market position & expand along with the region. While investing in digital platforms & technology has been the common route taken by financial institutions, most of them have neglected the backbone of their service offering which is providing advice.

Most banks in Asia claim to have a well-defined advisory process however very few ensure that the process is well enforced. This results in an inconsistent advisory approach across relationship managers and eventually an unsatisfactory client experience with the bank. Banks are struggling to control & measure the effectiveness of advice which in turn results in lack of internal improvement.

Synpulse has conducted an internal assessment of the market landscape for advisory offerings in Asia covering 15 banks based on two key metrics: integration of advisory process and maturity of fee-based offering.


In our assessment, it was clear that there are two market leaders however the others are expected to closely follow in terms of the key trends. A market leading and well enforced advisory process will improve client retention and bottom line revenue growth.

We can conduct a hot spot advisory assessment for your bank to measures gaps to the industry best practice and trigger initiatives to bridge the gap using the Synpulse advisory approach.

The Synpulse advisory approach

With our many years of experience with implementing advisory processes at banks, Synpulse has developed a systematic end to end approach covering the following:

  • Evaluation of the as-is advisory process
  • Defining the to-be advisory process
  • Enforcing the advisory process:
  1. Tactical enforcement via training
  2. Strategic enforcement with system enhancements
  3. KPIs and metrics to measure the process

Evaluation Phase

Using the war-room approach, workshops are conducted in this phase to understand & evaluate the current advisory processes in a bank and to identify the current pain points. The Synpulse Reference advisory framework is used a benchmark for comparison.


Definition Phase

Using the Synpulse design sprint methodology, a top-down and bottom-up workshop approach is implemented to define the advisory vision for a bank. This phase takes the output from the evaluation phase as a key input and provides the vision document as a key output.


Enforcement Phase

Once the vision and target process has been defined, it is critical to enforce this across the bank. Given the urgency & necessity of enforcement, we recommend a pragmatic approach for tactical enforcement via training. A bespoke, multi-dimensional and state of the art training methodology can instill the importance of the advisory process in the front office.

In the long term, system enhancements such as advisory notifications, insightful client data analytics and automated advisory can be implemented to monitor & enforce the defined advisory process.


Advisory enforcement can deliver benefits

Enforcing the advisory process can provide substantial benefits to the bank both in the short term and in the long term. In the short term, the quality of advice is improved with a disciplined approach being adopted by the front office. The client experience is harmonious across locations & even segments establishing a connection between the bank & the client. Moreover, adopting a common approach, language & process provides the opportunity for operational efficiency with streamlined functions. In the long term, there is increased client retention, loyalty (to the bank) and willingness to adopt the bank’s investment advice resulting in overall growth of revenues.

The Synpulse advisory approach provides banks with an opportunity to kick start their advisory enforcement initiatives. Our years of project experience across locations gives us a deep understanding of the industry situation and put us in a unique position to help you define & enforce your advisory vision.

To understand more about our approach and to conduct a hot spot advisory assessment, please contact us.

1. 2017 Asia-Pacific Wealth Report (APWR) by Capgemini.



Shannon Aw

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