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’.
Reviews. What do yours look like?
Paul Jay Compliance 2018, 2023, FCA, MiFID, Pension, Periodic Review, PI, TCF, Update
Review. It’s a simple word, but depending upon who you speak to, it can have several meanings. There are several definitions of the word ‘review’. In verb form, the Cambridge Dictionary cites review as: to think or talk about something again, in order to make changes to it or to make a decision about […]