Wealth Management Proposition Definition
Helping the largest building society define a wealth management savings, investment and advice proposition.
The Pickle
Our client, a mutual building society, also offers a professional advice service based on its outsourced retail savings and investments platform.
As the result of supplier and market changes, the client had a strategic opportunity to re-define its advice service based on the new platform.
The client also took the opportunity to look more closely at its operating model to find better outcomes for consumers and cost efficiencies.
The problem was that the client had limited in-house expertise to evaluate the different options available in the market.
Our Move
Measuring
We reviewed the client’s target operating model, proposition artefacts, project requirements (including the Agile EPICs, use cases and backlog etc.).
We looked at the status of the project within the client’s wider enterprise architecture.
Documenting
As part of the client’s in-house methodology, we drafted new business architecture documents for the client’s senior leadership team for sign-off.
We executed a detailed knowledge transfer to the client of the technology and engineering competencies required for coding and delivery.
Deciding
The client decided to prioritise project deliveries to meet its appetite for risk.
This was based on the delta between what the client wanted to achieve and what its strategic supplier was able to deliver.
This in turn involved strategic descoping, which the client was satisfied with as the client felt it had the relevant information to do the right things.
The Result
The client, based on our help, managed project delivery risk and cost more effectively.
And, in the end, the client took a strategic decision to de-scope part of the delivery.
This decision was taken not under pressure, as is common in technology projects, but because the client now has a clearer view of its proposition.