Probably the single most important aspect in report writing is relating your recommendations to your client circumstances and because no two clients are the same then your reports need to be unique. There will be elements of standardisation but by building your reports with unique content you will be reducing compliance risk and making it more relevant to your client and in turn it make it easier for your client to comprehend your advice.
The FCA rules do state that a suitability report should explain why the firm has concluded that the recommendation is suitable for the client having regard to the information provided by the client, so please do relate your recommendations specifically to your clients circumstances and keep them ‘Unique’.
Do you mark your own homework?
Paul Jay Compliance assessment tool, Conduct, DB Pension, DBAAT, Defined Benefit, FCA, FOS, Pension, PI, Senior Manager, SM&CR, Switch, transfer
Most firms will have at least vague recollections of the FSA’s thematic review of pension switching and the report it produced in December 2008. It produced a flurry of activity, but as time has elapsed it has perhaps become a distant memory, despite the high volumes of replacement business that have been and continue […]