Benefit Statements

The majority of reports that we view contain ‘advantages’ rather than ‘benefits’.

Advantages are often generic statements that are found in the product provider brochure.  By only including ‘Advantages’ it normally demonstrates a weakness in ‘Know your Customer’ gathering and or a ‘lazy’ sales process. ‘Advantages’ are often a guess and have a ‘so what’ element to them. ‘Benefits’ however link the aspects of your recommendation and or features to the clients circumstances and views. For example:

With this investment, switches between funds do not incur a personal liability for capital gains tax. This could be useful if you are already making use of your annual capital gains tax allowance elsewhere.

When you make switches between funds within this investment, you will not be personally liable for capital gains tax. This is a useful benefit as you are already making use of your annual capital gains tax allowance elsewhere.

In order to explain why your advice is suitable you need to make a direct link between a feature and the clients circumstances, this means making ‘Benefit Statements’.   

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

SUIT - Beautiful Reports
SUIT - Complete Control
SUIT - Comp confidence
previous arrow
next arrow

About the Author

Director - Having joined us directly from university, David quickly developed into an indispensable member of the team. As our IT Director he is responsible for ATEB’s technology strategies, security systems and platforms. He has been at the forefront of the development of ATEB Suitability and instrumental in ensuring that the complex regulatory requirements are catered for in an interactive and intuitive fashion. He would be delighted to discuss its capabilities with you in more detail.

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in