Speeding Up The Suitability Report Process

We are now offering a range of pre-populated suitability report templates through our adviser portal that users can personalise to their clients’ needs.

AdviceObjects has teamed up with financial compliance experts, B-Compliant, to deliver the suitability reports, ensuring all current and future regulatory requirements are met. We have then converted the offline documents into templates that the system can auto-fill from data it already holds, saving advisers significant time, without compromising the document’s integrity.

Once a suitability report is complete, it can be reviewed by the author and other colleagues, who can make amendments within the same file. This allows the adviser and senior management to sign off its content before it is shared with a client.

AdviceObjects CEO, Uday Nimmakayala, said: “It is our aim to make the administrative side of the financial planning process simpler and more efficient. Suitability reports remain a very manual process and we felt that by integrating them into our system, we could save advisers a significant amountof time that could be better spent with clients.

“We are very grateful to B-Compliant for providing the necessary resources and oversight to enable us to build this functionality into our advice platform. With their assistance and feedback from existing users, we have redefined how suitability reports are produced and enhanced the service we provide.”

AdviceObjects now includes the following suitability report templates:

Annual review letter

Target market and suitability guidelines – higher risk advice (EIS/VCT)

Investment – appendices

Investment – switch to ISA or GIA

Mortgage template

New ISA or GIA

New offshore bond

New onshore bond

New pension

Pension – appendices

Pension drawdown

Pension switch

Protection letter

Protection – appendices

Suitability report guidelines

Target market and suitability guidelines – higher risk advice(AIM/BPR)

‍Contact us for more information about how we have integrated suitability reports into our software, or email contact@adviceobjects.com