Wealth advisers review an agent's decisions by checking them against the client, not only against the model. They read the record, find which bound decided, test the decision against the client's current profile, objectives and circumstances, and confirm the evidence behind it. Then they approve, edit or decline with a reason a suitability review would accept.
Which agent decisions does a wealth adviser review?
In a wealth practice, an agent typically:
- drafts meeting notes and suitability reports at depth 2;
- proposes rebalancing trades and switches against model portfolios;
- answers routine client questions about valuations, charges and paperwork;
- processes standard administration, such as address changes confirmed through the firm's own process, at depth 3;
- flags clients whose holdings have drifted from their model or whose review is due.
Client trades and anything a client receives as advice are usually held for the adviser. Routine administration and answers are allowed and reviewed by sample.
What are the steps?
- Read the record. The agent's draft or action, the client data it used, the model or guidance it applied and its brief version.
- Find the deciding bound. Every action meets five bounds: role scope, certificate, sources, the firm's own limits and the platform guardrails. Knowing whether a proposal was shaped by the model portfolio rules or by a client-specific restriction tells you what to test.
- Test suitability. Risk profile, capacity for loss, objectives, time horizon, existing holdings elsewhere. Is the client file current?
- Test the evidence. Valuations from the platform are sealed. A client's statement about their other assets is declared. A suitability report that rests on declared facts should say so.
- Decide and record. Approve, edit or decline with a reason.
What stays with the adviser?
| The agent may | The adviser decides |
|---|---|
| Draft a suitability report | Whether the advice is suitable, and signing it |
| Propose trades against a model | Whether this client should make them |
| Answer factual questions about holdings | Anything that is advice on what to do next |
| Flag drift and overdue reviews | How and when to talk to the client |
| Draft meeting notes | Confirming they are accurate and complete |
The fuller list of things advisers should keep is in what wealth advisers should never let an agent do.
A worked example
Take a Spanish wealth firm where the agent drafts annual suitability reports. An adviser reviews a draft for a couple in their fifties with a growth profile. The report is well written and recommends staying in the growth model.
The record shows the agent took the couple's income and outgoings from the fact-find completed three years ago, a declared source never updated. In the latest meeting notes, which the adviser approved, the husband mentions he has been made redundant. The agent read the notes but did not treat the redundancy as a change to capacity for loss, because its brief lists only changes recorded in the fact-find as triggers for reassessment. The adviser declines the draft, records the reason, updates the fact-find with the clients, and asks the process owner to add life events in approved meeting notes to the agent's triggers.
What should advisers sample?
- Answers to client questions, for anything that strays into advice.
- Administration, especially changes to contact or bank details.
- Reports and notes the adviser approved quickly. Speed is a warning sign on documents that carry suitability weight.
Reviewing the agent's drafts carefully is also how advisers protect themselves. A suitability report signed by the adviser is the adviser's report, whoever drafted it. The argument that this review is where the real control sits is made in why wealth advisers are the real control.
HR advisers review agent decisions with a similar focus on individual circumstances; see how HR advisers review an agent's decisions. For market views, see wealth adviser training in Australia. The full role map is in AI agent skills by role.
Where the Academy fits
Pryme Intelligence Academy's Operator track covers human review, teaching the agent and keeping knowledge current, which is the skill that would have caught the out-of-date fact-find above. Module tests are set in the learner's own industry and role, so advisers work through wealth cases. Certificates are issued through VerifyDoc.ai and listed on a public register by name, credential and expiry.
Questions people ask
Should advisers read the agent's draft report before or after the client file?
On complex clients, read the file first and form a view, then read the draft. It reduces the pull of a well-written report.
Can an adviser approve meeting notes they did not attend?
No. Notes should be confirmed by someone who was there.
What if the agent's proposal and the adviser's view differ?
The adviser decides and records why. Repeated differences on the same point belong with the process owner.