Orchestrating Client Product Suitability with Agentic AI
Some are born great.. some have greatness thrust upon them
When it comes to customer onboarding, the adage ‘First impression is not only the last expression but also an everlasting one’ holds true in today’s context. Within the financial services industry, and particularly in wealth management, effective onboarding goes beyond a simple introduction. Private banks and wealth management firms are entering a new era where regulatory compliance, personalized advice, and artificial intelligence converge. It encompasses the holistic management of client profiling and subsequent investments, ensuring an end-to-end experience that integrates seamlessly with systems, supports the client lifecycle, and adheres to regulatory compliance.
All the world’s a stage, and all the men and women merely players
This article examines client onboarding and categorization through the lens of MiFID II’s Knowledge and Experience framework. It further explores the MiFID II Article 24 guidelines on the suitability and appropriateness of products. It encapsulates the aspects of distributing products to clients categorised under ESMA and other European regulatory frameworks, including Swiss FINMA regulations. Therefore, it is crucial for product and treasury teams to manufacture products clearly defining the boundaries, purposes and risk with a 360 view on market, customer need, government regulations and guidelines, distributor’s commission and own interest.
