Client’s own words (COWs).
This is a powerful and effective way of personalising suitability reports. When you gather know your customer (KYC) information (see ‘K’ blog post) try to record some of the client requirements and objectives using their own words, so that you can repeat the quotes back to the client in the reports.
This provides the ultimate in personalisation and is a great way to cement recommendations.
If you can quote something like
“Both you and Beth want to use you maximum ISA allowance for the next 7 years (when you plan to retire Tom) for the purpose of supplementing your retirement income but also to buy that camper van you’ve always wanted and fulfil your dream of driving around Europe”.
Minimum Pension Age Regulatory Change in ATEB Suitability
Doug McFarlane Suitability 2021, Evalue, NMPA, normal minimum pension age, Pension, platform, transfer, Update
Following the release of a consultation paper on 10th February 2021 by HM Treasury, we have now added a ‘Proposed changes to Normal Minimum Pension Age (NMPA)’ section within the ‘Retirement Advice’ page of the main Suitability Report template. This includes a standard text option, pre-ticked for inclusion in all retirement advice reports, informing clients […]