Change at a glance

Location

Detail

Addition of new core template to accommodate a simplified, end to end ‘Confirmation of Continued Suitability’ process.

Dashboard → Create a New Report → Select Type: Continued Suitability Letter → Start Report

In addition to the existing report writing functionality users now have the ability to confirm, in writing the continued suitability of clients existing investments as part of their periodic assessment of suitability requirements under MiFID II.

‘New’ or ‘Existing’ product select options improved.

Selected from:

Report Builder → Investment Advice/Retirement Advice → Plan Builder

To avoid confusion, new or existing questions options are now always visible on screen without having to click drop down list.

Change at a glance

Location

Detail

‘Help to Buy – Equity Loan’ and ‘Help to Buy – Shared Ownership’ fields added to the ‘Mortgage Details’ tab.

Selected from:

Report Builder → Mortgage Advice → Plan Builder → Mortgage Details

Output text is presented in the report under the heading Mortgage Advice → Mortgage Recommendation.

We continue to enhance the Mortgage products available and this includes our recent Help to Buy additions. Available for selection under the Mortgage Details tab with supporting suggested text found under the Product Recommendations Reasons, Potential Disadvantages and Risk Warning tabs.

‘Second Charge’ added as new product to ‘Mortgage Type’ drop down.

Selected from:

Report Builder → Mortgage Advice → Plan Builder → Mortgage Details → Select Product Type

Output text is presented in the report under the heading Mortgage Advice → Mortgage Recommendation.

Available for selection under the Mortgage Details tab with further suggested recommendation text found under the Product Recommendation Reasons tab.

Stamp Duty Land Tax and Land & Building Transaction Tax Glossary terminology updated

Selected from:

Report Builder → Glossary

Output text presented as an appendix to the final report under the heading Glossary.

Glossary updated to cater for the changes to Stamp Duty Land Tax (SDLT) and Land & Building Transaction Tax (LBTT) for first time buyers.

Change at a glance

Location

Detail

Revised ‘Financial Experience and Knowledge Discussion’ section within the Attitude to Investment Risk tab.

Selected from:

Report Builder → Introduction to Advice/Investment Advice/Retirement Advice → Attitude to Investment Risk

Output text will be presented in the report under the heading Attitude to Investment Risk.

The addition of a free text box provides increased flexibility and personalisation for the user to introduce and document the financial experience and knowledge of the client. To ensure relevant points aren’t missed a ‘compliance tip’ has been added outlining the new COBS 9A requirements in this area.

Money Purchase Annual Allowance (MPAA) Glossary terminology and warning text updated.

Selected from:

(1) Report Builder → Glossary

(2) Report Builder → Retirement Advice → New or Existing Plan → Actions Applicable to this plan → Income or Withdrawal/UFPLS

Output text will be presented as an appendix to the final report under the heading Glossary or within the report itself under New or Existing Retirement Advice.

Intention is now clear that a reduction to £4,000 has been applied retrospectively – reference to a MPAA of £10,000 has been removed accordingly.