Testing an agent's drafted recommendation against what the adviser knows of the client is the wealth adviser's most decisive skill, because suitability rests on facts the agent may not have. Then: confirming instructions before trades are released, explaining advice in plain words, recognising vulnerable clients, and keeping a record that would satisfy a reviewer.
What does an agent do for a wealth adviser?
Wealth advisers gather client information, assess goals and risk tolerance, recommend portfolios and products, place or approve trades, review holdings and keep clients informed. An agent can prepare meeting packs, summarise holdings and performance, draft suitability reports at depth 2, and propose rebalancing within a model portfolio.
Trades move client money, so they sit at depth 4 and are held for the adviser. The advice itself, and the relationship, stay with a person.
Which skills matter most, ranked?
- Testing suitability drafts. The agent builds its draft from the client file. The risk questionnaire is declared by the client. Holdings from the custodian are sealed. The adviser knows things neither shows: a planned house purchase, a family change, a client who answered "adventurous" but panicked in the last downturn. The adviser must test the draft against that knowledge before it reaches the client.
- Confirming instructions. A client email asking to sell a holding is external until confirmed through an agreed channel. Instruction fraud targets wealthy clients. The adviser confirms before releasing.
- Explaining in plain words. The agent's report may be accurate and still unclear. The adviser must be able to explain the recommendation, the costs and the risks so the client understands what they are agreeing to.
- Recognising vulnerability. Bereavement, illness, cognitive decline and pressure from relatives change what is suitable and how to communicate. The agent may not see the signs; the adviser must.
- Keeping a defensible record. Every recommendation, override and confirmation is filed. The adviser's note on why they changed a draft is part of the suitability evidence.
What does the agent do, and what stays with the adviser?
| Task | The agent | The wealth adviser |
|---|---|---|
| Meeting preparation | Summarises holdings, performance, changes | Decides what to raise |
| Suitability report | Drafts at depth 2 | Tests, edits, signs |
| Rebalancing | Proposes within model | Approves at depth 4 |
| Client instructions | Records and holds | Confirms and releases |
| Client communication | Drafts updates | Owns advice conversations |
What does testing a suitability draft look like?
Take a private client team. The agent drafts an annual review for a client aged 58: the questionnaire shows a balanced risk profile, the portfolio has drifted towards equities after a strong year, and the agent recommends rebalancing back to the balanced model.
The adviser knows from the last meeting that the client plans to retire in two years and draw a lump sum to clear a mortgage. That changes the time horizon for part of the portfolio. The adviser edits the recommendation to move the lump sum into lower-risk holdings now and keeps the remainder balanced, and records the reason. The agent's draft was correct on what it knew; the adviser made it suitable.
That note is exactly the kind discussed in how to teach wealth advisers to bank corrections. Compliance teams review the same files; see skills for compliance officers. HR advisers face a similar duty to bring what the file does not show; see skills for HR advisers.
How should wealth teams build these skills?
Hold a monthly file review where each adviser brings one agent draft they changed and explains why. Practise instruction confirmation with simulated fraud attempts. Market rules differ; see wealth adviser training in Germany and in Spain. The full map is in AI agent skills by role. A shared baseline such as the Foundations badge from Pryme Intelligence Academy helps advisers and compliance staff use the same terms.
Questions people ask
Can the agent give advice directly to clients?
It can provide information and draft reports. Personal recommendations should come from the adviser, who answers for suitability.
Should advisers record why they changed a draft?
Yes, briefly. The note supports the suitability record and helps the agent's builder improve future drafts.
What if the client prefers the agent's draft?
Discuss it. If the adviser's change reflects a fact about the client's circumstances, explain that fact. The decision on suitability remains the adviser's.