We completed the latest upgrade to ATEB Suitability on 9th July 2021. This update comes at no additional cost and provides various template & content management enhancements as well as performance improvements when recommending/reviewing multiple investment/retirement plans.
Full details of the enhancements can be found in the tables below, but some of the highlights are:
Upgraded Investment/Retirement Plan Charges table functionality
In our April 2021 system update, we upgraded the calculation logic within the charges tables of the main ‘Suitability Report’ template; to provide firms the ability to deduct an initial advice fee from the initial investment/contribution amount for all new investment/retirement plan recommendations. This functionality is now available for any further investment/contribution amounts being made to a client’s existing investment/retirement plan(s).
Improved Recommended Plans page loading times
The logic within the Recommended Plans pages of the main ‘Suitability Report’ template has been restructured to reduce the load time experienced when adding multiple Investment/Retirement plans to the same report.
New ‘Whole of Life Cover’ considerations section added for Defined Benefit Scheme Transfer recommendations
Where advice has identified a desire to provide a legacy in the event of a client’s death / protect the value of their pension in the event of death, firms are now provided with a range of supportive wording to assist them in considering and recommending or discounting a Whole of Life insurance policy as a suitable alternative to transfer.
Content Management – ‘Investments’ library updated
We have added descriptive text for the following ‘Investments’ within Content Management:
- Invesco Summit Responsible 1 Fund
- Invesco Summit Responsible 2 Fund
- Invesco Summit Responsible 3 Fund
- Invesco Summit Responsible 4 Fund
- Invesco Summit Responsible 5 Fund
Template Change Details
Main Suitability Report
|Change at a glance||Location||Detail|
|Enhanced charges table functionality.||Getting Started page → Investment Advice/Retirement Advice → Investment/Retirement Plans page → New or Existing? Existing → Investment/Retirement Plan Charges page → Do you wish to include the initial charges? Yes → Will the initial advice charge be deducted from the investment? Yes||Firms are now able to deduct the advice fee from any investment/contribution amounts being made to a client’s existing investment/retirement plan(s).|
|Improved Recommended Plans page loading times.||Getting Started page → Investment/Retirement Advice → Investment/Retirement Plans page||We have reduced the load time a user experiences when adding multiple investment and/or retirement plans to the same report.|
|New ‘Whole of Life Cover’ section added for Defined Benefit Scheme Transfer recommendations.||Getting Started page → Retirement Advice → Retirement Plans page → Existing Defined Benefit Scheme or Other Occupational → Further Considerations tab → Whole of Life Cover||A new ‘Whole of Life Cover’ section has been added to the ‘Further Considerations’ tab. Users are provided with a range of supporting text in this section to assist with consideration of Whole of Life insurance as a suitable alternative to transfer.|
|New logic applied to the Retirement Plans page.||Getting Started page → Retirement Advice → Retirement Plans page → Discounted Alternatives/Further Considerations tabs||The selectable sections shown within the ‘Discounted Alternatives’ and ‘Further Considerations’ tabs of the Retirement Plans page are now dependent on the ‘product type’ or ‘action applicable’ selected.|
|‘Ongoing Charges Figure (OCF)’ wording updated.||Getting Started page → Investment/Retirement Advice → Appendices page → Glossary of Terms → Glossary page||We have updated the wording of our ‘Ongoing Charges Figure (OCF)’ glossary item.|
|Change at a glance||Location||Detail|
|New ‘Investments’ added to Content Management.||Dashboard → Content Management → Investments||New descriptive text has been added to the ‘Investments’ feature of Content Management for Invesco’s Summit Responsible 1-5 Funds.|
Please don’t forget we have a collection of ‘how to’ guides, articles and hints/tips via our FAQs which are available on our Help & Support Portal.