Probably the single most important aspect in report writing is relating your recommendations to your client circumstances and because no two clients are the same then your reports need to be unique. There will be elements of standardisation but by building your reports with unique content you will be reducing compliance risk and making it more relevant to your client and in turn it make it easier for your client to comprehend your advice.
The FCA rules do state that a suitability report should explain why the firm has concluded that the recommendation is suitable for the client having regard to the information provided by the client, so please do relate your recommendations specifically to your clients circumstances and keep them ‘Unique’.
Tax Year End Update
Doug McFarlane Suitability 2024, Pension, transfer, Update
Our report writing software has been fully updated on 6th April 2024 to accommodate changes to allowances, rates and reliefs for the 2024/25 tax year. Full details can be found below: Pensions Existing ‘Lifetime Allowance’ wording removed and replaced with new ‘Lump Sum Allowance (LSA)’ and ‘Lump Sum and Death Benefit Allowance (LSDBA)’ wording. In […]