Client Preference Toolkit — Clear, consistent and proportionate client preference conversations
The Preference Toolkit provides practical documents to support how investment preferences are explored, recorded and reflected within financial advice.
It is designed to help firms:
- support informed client decisions
- explore and record preferences clearly
- reflect those preferences appropriately within suitability
The toolkit is:
- process-led — designed to fit within your existing advice process
- neutral — it does not promote any particular investment approach
- flexible — all documents can be used as-is, adapted, or integrated into your existing materials
Client preferences form part of the overall suitability assessment, alongside financial objectives, risk, time horizon and wider circumstances.
Not all clients will have specific preferences — and a simple approach is often appropriate.
Prefer to read any of the documents offline? Please use the download button in the top right corner of each flipbook.
📍Client Preference Toolkit — Overview & Where to Start
Start here (simple approach)
This is the approach most firms will follow
You do not need to use every document.
A simple starting point for most firms is:
1. Before the meeting - send each client the Quick Guide
2. During the meeting, have a high-level, client-led conversation
3. During the meeting, complete the Preference Pathway Record
This will be sufficient for many clients. You can then use additional documents only where needed.
The Preference Toolkit
1. Introduce preferences
📍Investment Preference Pathway — Quick Guide
A simple, client-friendly introduction to:
- how investment choices work
- the different approaches available
- what clients may want to consider before the meeting
Most clients will not need more than this.
2. Support the conversation (if needed)
📍Investment Preference Pathway — Additional Information
Provides further detail where a client:
- wants to explore options more deeply
- needs clarification
- has more specific preferences
Clients do not need to read this in full — it is available if they want more detail.
3. Explore preferences in more detail (optional)
Use these only where appropriate. Most clients will not need to complete a questionnaire.
📍Preference Questionnaire — Ethical / Values-based
For clients who want to:
- avoid specific sectors or activities
- reflect personal beliefs or values in detail
📍Preference Questionnaire — Sustainability
For clients who want to:
- focus on sustainability approaches
- explore themes such as climate, environment or social outcomes
- express preferences across different sustainability styles
- align investments with specific sustainability goals
- express preferences in a more structured way
📍Preference Questionnaire — United Nations Sustainable Development Goals (SDGs)
An optional framework for clients who want to:
This is not required for every client and should only be used where relevant.
4. Record preferences and support suitability
📍Investment Preference Pathway — Record
Use this to:
- capture the client’s preferences
- record how those preferences have been applied
- document any trade-offs or limitations
- support suitability evidence
This forms part of your overall suitability process.
5. Support adviser approach and consistency
📍Investment Preference Pathway — Adviser Guidance Notes
Supports advisers to:
- run clear, consistent conversations
- adapt the approach to different client types
- apply preferences appropriately within suitability
📍Using the Preference Questionnaires — Adviser Guide
Supports advisers:
- when to use questionnaires
- how to use them proportionately
- how to interpret client responses
Questionnaires should not be used as a default step.
These adviser support documents also help in managing client expectations — particularly where clients are seeking environmental, social or real-world outcomes. Clear explanations of what different approaches are designed to do, and any limitations, support informed client decisions.
6. Support vulnerable clients and complex situations
📍Vulnerability, Protected Characteristics & Client Values — Practical Guide & Checklist
Supports advisers to:
- recognise where preferences may link to vulnerability
- understand emotional or values-based responses
- respond proportionately
- reduce the risk of unintended harm
7. Support: firm-level implementation
📍Client Preference Readiness Quadrant
Helps firms:
- understand their current position
- identify next steps
- build confidence gradually
📍Firm-Level Review & Gap Analysis Tool
Supports firms to:
- review advice processes
- identify gaps
- strengthen consistency and oversight
📍Terms of Business — Client Preferences
Use this to explain:
- that preferences may be explored
- how they fit within suitability
- that trade-offs or limitations may apply
📍Key principles
- There is no hierarchy between investment approaches
- Clients may have clear preferences, broad preferences, or none at all
- Not all preferences can always be applied exactly as requested
- There may be trade-offs with diversification, risk, cost and available solutions
- The aim is to support informed client decisions — not to create unnecessary complexity
- Where preferences relate to sustainability or impact, outcomes are not guaranteed and may vary between investments. Clients should be supported to understand what different approaches are designed to do, and any limitations that may apply
Need support implementing the toolkit? If you would like help embedding the Preference Toolkit within your firm, or would prefer the full set of documents emailed to you, please get in touch: 📩 elly@inaccord.co.uk or 📩 lee@esgaccord.co.uk
Use of this toolkit is subject to our Terms & Conditions