Avoid it! Don’t assume that your clients will understand technical terms and acronyms. Yes, there has to be a degree of technical information, but wherever possible, explain this in simple terms.
We like the ‘granny test’ (with the greatest respect to all grannies all over the world) i.e. if your granny (or wife, husband, partner, aunty, uncle or best mate) can understand it, then you’re on the right track.
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.
The FCA has issued a second guidance consultation relating to vulnerable customers.
An email hacking scam first seen a few years ago is back.
Do you have to provide a suitability report for clients that are not UK citizens?
The EU/US Privacy Shield agreement has been struck down by the ECJ.
Suitability Reports – avoiding common problems
Alistair MacDougall Compliance complaints, Pension, PI, Update
How to avoid some of the commonly found issues with Suitability Reports.