2 April 2026
Risk scores that disagree with the mandate draft
A recurring finding in suitability-linked wealth management applications: the questionnaire says one thing, the mandate another.
Suitability questionnaires and discretionary mandates are often prepared by different people on different weeks. By the time a wealth management application reaches committee, the risk score may still say “income with limited drawdown,” while the mandate authorises growth equities up to a high percentage.
Why it happens
Product migrations, template updates, and last-minute client preference changes leave the questionnaire untouched. The mandate gets the new language because that is the document heading to signature.
What auditors flag
We treat a material mismatch as a should-fix or blocking item depending on your internal policy. The fix is usually a fresh questionnaire or a narrowed mandate — not a footnote hoping nobody notices.
Practical habit
Stamp both documents with the same “pack version” date before the file leaves the RM’s desk. It will not catch every issue, but it makes drift visible during a financial audit of the application.