Change at a glance

Location

Detail

Charges table now optional for existing plans/products.

Report Builder → Investment/Retirement Advice → Section Builder → Charges → Plan Builder → Charges

Output text will be presented in the report under the heading Charges.

Enhancement of current software functionality to provide users the option to include the charges table for either existing and new plans or for new plans only with the total aggregate charges expressed in both percentage and cash amounts.

Mandatory fields removed from templates.

To provide users with a greater level of flexibility in the creation and editing of their templates all mandatory fields previously requiring values to be entered prior to saving have now been removed.

Change at a glance

Location

Detail

EIS, SEIS and VCT’s added as new product types to the Investment Advice area.

Report Builder → Investment Advice → Plan Builder → Select Product Type

Output text will be presented in the report under the heading New Investment Product Advice.

We continue to enhance the Investment products available and this includes our recent EIS, SEIS and VCT additions. Available for selection under the Plan Builder with supporting suggested text found under the Recommendation Reasons and Potential Disadvantages tabs.

Key Information Document (KID) added to Supplementary Documentation section.

Report Builder → Investment/Retirement Advice → Plan Builder → Supplementary Documentation

Key Information Document (KID) now available as an option within the Supplementary Documentation section for all Packaged Retail and Insurance-based Investment Product (PRIIPs) recommendations.

Change at a glance

Location

Detail

Revised ‘Discounted Alternatives’ section for Defined Benefit Transfers.

Report Builder → Retirement Advice → Plan Builder → Select ‘Existing Defined Benefit Scheme or Other Occupational’ → Further Considerations tab → Discounted Alternatives

Output text will be presented in the report under the heading Discounted Alternatives.

The addition of a free text box with guidance text prompting the user to include a summary of the alternatives considered and discounted prior to the recommendation to transfer.

Suggested Reasons, Disadvantages and Risk Warning text for Existing Defined Benefit Schemes have been amended to remove reference to the ‘guaranteed’ nature of benefits.

Report Builder → Retirement Advice → Plan Builder → Select ‘Existing Defined Benefit Scheme or Other Occupational’→ Recommendation Reasons/Potential Disadvantages tabs.

Risk warnings will automatically appear in the final report on selection of ‘Existing Defined Benefit Scheme or Other Occupational’ as the product type.

To more accurately reflect the nature of the benefits provided under Defined Benefit Schemes we have removed reference to ‘guarantees’ and replaced with reference to ‘safeguarded and/or secured benefits’.