SD-15.15 — Financial & Wealth Planning

Business Domain: BD-15 Distribution, Product & Client Management (Commercial) · Applies: PUB

Purpose

The wealth manager’s comprehensive-planning value proposition — the multi-year financial plan, the estate and wealth-transfer strategy, behavioural advice and family governance that coordinates the client’s asset allocation, retirement and decumulation, liquidity needs, and insurance and risk strategies into one coherent view of the household’s financial life. SD-15.15 is the advisory-delivery discipline that wraps around the client’s goal hierarchy: it builds the financial plan, plans the estate and the multigenerational wealth transfer, advises on after-tax wealth maximisation, delivers behavioural advice and bias mitigation, and supports family governance. It is the wealth manager’s core capability — and it is dormant for the asset owner, which manages its own capital for its own beneficiaries, and for the hedge fund, which has no household-planning relationship with its investors.

It is not SD-01.14 Goals-Based Planning — SD-01.14 frames the client’s goal hierarchy as a strategy artefact (the prioritised goals, the funding-adequacy assessment, the once-per-client paradigm-shift governance). SD-15.15 consumes that hierarchy and wraps the comprehensive advisory delivery around it. The division is one of capability type: framing-the-goals is BD-01 strategy; advisory-delivery is BD-15 commercial. It is also not SD-15.12 Client Advice & Suitability — SD-15.12 is the narrow regulated suitability and appropriateness gate (the MiFID II, FCA suitability and Regulation Best Interest control on whether a specific product may be sold to a specific client). SD-15.15 is the advisory value proposition that gate sits around: it consumes the SD-15.12 client profile, and the plan it produces is in turn gated by SD-15.12 before any product within it is recommended. SD-15.15 differs from BIAN’s Financial Planning service domain in scope. BIAN carries a Financial Planning Service Domain under its Customer Management business area (BIAN Service Landscape v14.0) — a retail-bank service for budgeting, savings and basic-product planning. SD-15.15 is the buy-side wealth-manager comprehensive-planning proposition: multi-year financial plan, estate and wealth-transfer planning, behavioural advice and family governance — a substantively wider remit. Recorded as a buy-side-specific extension to the BIAN-side Financial Planning capability, the same kind of sourced-addition note SD-13.8 Semantic & Metric Layer carries.

Service Operations

Produce the comprehensive financial plan — build and maintain the client’s multi-year financial plan: cash-flow modelling, the asset-allocation framing, retirement and decumulation strategy, liquidity planning, and the insurance and risk-protection strategy, coordinated into one plan around the SD-01.14 goal hierarchy.
Run estate and wealth-transfer planning — plan the estate and the multigenerational transfer of wealth — succession, trusts and gifting structures, charitable giving, and the orderly transfer of wealth across generations.
Deliver behavioural advice and bias mitigation — coach the client through market stress and decision points, surface and counter the behavioural biases that erode long-run outcomes, and hold the client to the plan.
Support family governance — support the governance of family wealth — the family constitution, the family council, the education of the next generation and the alignment of the household around shared objectives.
Advise on after-tax wealth strategy — advise on the after-tax structuring of the household’s wealth and on the tax strategy of the wealth transfer, drawing on the tax position SD-17.4 operates.
Conduct the planning review — run the periodic planning review with the client against the comprehensive financial plan and the SD-01.14 funding-adequacy view, feeding outcomes back into SD-01.14 for goal-hierarchy revision and into SD-01.13 / SD-05 for allocation and construction changes.

Inputs and outputs

Inputs: the SD-15.12 client profile — objectives, risk tolerance, capacity for loss and circumstances; the household’s assets, liabilities and external holdings; the portfolio and performance data; the SD-01.14 goal hierarchy and funding-adequacy assessment (the strategic statement of the client’s goals the advisory plan is built around); the SD-09.5 probability-of-meeting-goal forward-looking measure (the goals-based-measurement input to the planning review — whether each goal is on track on the current allocation); the tax position from SD-17.4; estate, trust and tax law as the planning frame.
Outputs: the comprehensive financial plan, the estate and wealth-transfer strategy, and the planning-review outcomes — consumed by SD-15.12 (which gates the plan’s product recommendations), by SD-01.14 Goals-Based Planning (which revises the goal hierarchy on the planning-review feedback), and by SD-15.13 and SD-15.14 (the relationship and reporting that carry the plan to the client).

Entities

Consumes: E-01 Legal Entity (the client / household), E-03 Portfolio / Mandate; the SD-15.12 client profile — objectives, risk tolerance, capacity for loss and circumstances; the SD-17.4 tax position; E-30 Goal (the client’s goal hierarchy, framed and owned by SD-01.14 — SD-15.15 is the advisory-wrapping consumer); E-31 Goal Progress Measurement (the SD-09.5 probability-of-meeting-goal measure — the planning-review input); E-32 Tax Lot (from SD-12.17 — the after-tax position the wealth advice runs against, and the tax-loss-harvesting candidate surface).
Owns: E-33 Financial Plan — the structured, versioned multi-year financial plan: the cash-flow model, the retirement / decumulation strategy, the insurance and risk-protection strategy, the estate / wealth-transfer strategy, with the household’s goal hierarchy (E-30 reference set) sitting inside. The plan is the advisory artefact the planning review consumes and the suitability and Consumer-Duty fair-value-evidencing record. E-30 Goal is owned by SD-01.14 Goals-Based Planning — the strategy framing capability owns the strategy artefact; SD-15.15 owns the comprehensive advisory plan that wraps around it.

Standards

The CFA Institute Private Wealth Management body of knowledge — comprehensive financial planning, after-tax wealth maximisation, estate and wealth-transfer planning, goals-based and behavioural advice, and family governance.
Estate, trust and tax law as the planning frame.
There is no single governing external standard — financial planning is governed by professional practice and a body of knowledge, not by a regulatory sourcebook; that is what distinguishes SD-15.15 from the rule-bound SD-15.12 suitability gate.

Open extensions

The Service-Operation-level handoff with SD-01.14 Goals-Based Planning — the precise advisory ↔ strategy contract by which planning-review outcomes feed back into goal-hierarchy revision.