Thailand’s affluent banking landscape is undergoing a structural change as banks move away from transaction-led product distribution toward advisory-led wealth models anchored in long-term client engagement. The shift is driven by slower loan growth, rising demand in investment products, and a more sophisticated mass affluent segment that increasingly expects portfolio guidance instead of one-off investment recommendations. Bhudinan Sethanandha, head of affluent & wealth management of CIMB Thailand, explained the strategy is a deliberate evolution from the legacy retail banking logic. “We are building strategically on top of our conventional retail banking business to scale towards a more wealth-focused business,” he said. Within this context, CIMB Thailand is repositioning its affluent franchise around a more structured wealth architecture that integrates advisory capability, disciplined investment frameworks and digital engagement channels. The transformation reflects not only a change in product strategy but a broader shift in operating model design, where wealth creation is increasingly managed through coordinated advisory ecosystems rather than from a standalone product distribution model. Building scale through a tiered affluent strategy CIMB Thailand’s affluent franchise has expanded materially, supported by both client acquisition and deeper penetration across wealth tiers. The bank’s Preferred affluent base has grown steadily since the transformation of the wealth franchise’s operational framework, achieving a remarkable segment expansion of 21% year-on-year, most notably across the key affluent client segments – Preferred Elite and Private Wealth. This client segmentation framework is central to the bank’s operating model. Clients are stratified across wealth bands ranging from entry affluent to high-net-worth thresholds, enabling differentiated advisory engagement and product structuring based on asset level, risk appetite and investment sophistication. Rather than treating mass affluent customers as a single homogeneous segment, CIMB Thailand has effectively utilised their tiered engagement model in which advisory depth increases with asset complexity, allowing for more personalised investment strategies and portfolio solutions. Building an advisory-led operating model At the core of CIMB Thailand’s transformation is the shift from product distribution to advisory-led wealth construction. The bank has implemented a structured engagement cycle that moves clients through assessment, recommendation, execution and monitoring phases, supported by collaboration between relationship managers, investment researchers and advisory teams. This model is designed to reduce reliance on product-driven sales incentives and instead embed investment discipline into sales and eventually client behaviour over time. It also introduces a more standardised framework for wealth planning, ensuring that investment decisions are aligned with client’s long-term financial goals rather than in reaction to short-term market activity. Bhudinan said, “We wanted to scale from a product and transaction-led wealth business towards one that is more advisory-led.” This shift effectively repositions the bank’s role from a wealth product distributor to structured financial advisor, with a stronger emphasis on behavioural guidance and portfolio construction discipline. Embedding investment discipline through the "Safer Pocket" framework A key pillar of CIMB Thailand’s wealth strategy is the “Safer Pocket” framework, an investment philosophy centered on balancing return generation with risk management and capital preservation. Under this framework, clients are encouraged to prioritise structured portfolio construction and risk awareness over high-frequency trading or opportunistic allocation, with the goal of generating sustainable income. It is particularly relevant in Thailand’s volatile macro environment, where retail investors often exhibit inconsistent investment behaviour and asset allocation decisions. The framework is operationalised through curated investment solutions that simplify portfolio decision-making while maintaining alignment with individual risk profiles. Bhudinan explained, “Safer Pocket is a disciplined investment philosophy we instil on our clients and also on our advisors.” CIMB Thailand standardises the delivery of advice while enabling it to scale across a growing affluent client base. Structured investment solutions for scalable advice To scale its advisory model under the “Safer Pocket” framework, CIMB Thailand has also introduced their flagship goal-based investment product – CIMB Donut, a professionally curated mutual fund portfolio solution designed to simplify asset allocation across different risk profiles. By packaging diversified investment strategies into pre-constructed portfolios, the solution reduces complexity for clients, while enabling relationship managers to deliver consistent, goal-oriented advice to clients. This standardised portfolio solution allows the bank to extend advisory coverage across the growing affluent base while maintaining consistency in investment portfolio construction, improving operational efficiency and empowering relationship managers to focus on providing higher-value client engagement and holistic wealth advisory. Extending advisory capability through digital channels CIMB Thailand’s wealth advisory function is increasingly powered by their comprehensive digital ecosystem that brings together its mobile banking platform (CIMB THAI application) offering a suite of integrated wealth management capabilities, and the LINE messaging channel to deliver seamless omnichannel client engagement and effective advisory services. Complementing the bank's advisory-led wealth operational model, these digital capabilities reinforce the advisory engagement experience beyond traditional interactions. Clients can automate recurring investments, execute bond transactions digitally, and receive personalised portfolio updates that support informed, goal-based investment decisions. The objective is to extend advisory beyond meetings with the dedicated advisory team by creating continuous engagement while maintaining the structure of the advisory framework. In this way, digital channels function not only as execution platforms but also as tools that enhance client engagement and encourage long-term investing. ASEAN connectivity and portfolio diversification A structural advantage in CIMB Thailand’s wealth franchise is its access to CIMB Group’s ASEAN network, giving clients opportunities to diversify their investments and explore wealth solutions beyond the domestic market. Through its collaboration with CIMB Singapore, CIMB Thailand seamlessly connects their affluent clients to offshore funds, bonds, structured products and bancassurance, broadening investment opportunities beyond Thailand while delivering diversified portfolio solutions through a unified regional advisory framework. This regional connectivity broadens the range of wealth solutions and investment opportunities available to clients while maintaining consistency in governance and advisory standards. It also allows the bank to deliver integrated portfolio solutions that span both local and regional market opportunities. Bond leadership and income-focused portfolios CIMB Thailand’s long-established position in Thailand’s bond market remains a cornerstone of its wealth franchise. Strong demand for fixed income investments among affluent clients has positioned bonds as a key contributor to the bank's wealth business, generating substantial investment volumes and fee income while reinforcing its long-standing leadership in bond distribution. The bond franchise also acts as a gateway product for affluent clients transitioning from deposit-heavy portfolios into more diversified investments. This positions the bank as a disciplined wealth manager rather than a pure product distributor, with bonds serving as an anchor of portfolio stability. CIMB Thailand’s affluent banking transformation reflects a broader shift taking place across Southeast Asia’s wealth management industry. As affluent markets mature, competitive advantage is increasingly defined by the quality of advice, disciplined portfolio construction and sustained client engagement, rather than the breadth of products offered on shelf. The bank has steadily repositioned itself from a product provider into a wealth adviser that delivers structured, long-term wealth solutions. Rather than relying on product-led interactions, it has established a hybrid advisory model that combines personalised relationship management, seamless digital engagement and disciplined investment governance to deliver consistent, client-centric advice at scale. As Thailand's affluent segment continues to expand, sustainable differentiation will increasingly come from the ability to combine scalable, high-quality advisory with disciplined investment solutions and integrated digital engagement, creating a more holistic wealth management experience than product breadth alone can deliver.
