As you are already reading this, you have no doubt considered the potential merits of outsourcing your paraplanning. Here are some of the key benefits:
- Save you time. Free up your time to service existing clients and generate new business
- Financial Benefits. Increase revenue and profitability
- Professional reports. Professional, high quality suitability reports that will reflect well with your clients
- Minimise your costs. No recruitment costs, salary, sickness or holiday pay, pension contributions, national insurance, employee benefits, training and development etc.
- Pay as you go. Only pay for the service when you use it
- High quality service. Have a highly qualified and experienced paraplanner as part of your team
We know that outsourcing your paraplanning can be expensive. That’s why we have developed an affordable paraplanning solution that will meet your suitability requirements under the FCA’s COBs 9.4 guidelines for suitability reports whilst keeping costs to a minimum.
How do we do this?
We’ve designed a packaged solution that includes:
- Provider selection report using Capita Synaptic to support your recommendation
- Planning report from our suite of templates
- Pension transfer analysis using SelectaPension to compare costs
Some Food for Thought
Did you know that the only FCA requirements under COBs 9.4.7 (contents of a suitability report) are that the suitability report must:
- Specify, the clients demands and needs;
- Explain why you, as adviser have concluded that the recommended transaction is suitable for the client, and
- Explain any possible disadvantages of the transaction
In our experience, suitability reports have generally become rather complicated, complex tools to de-risk by incorporating a significant amount of detail, often not relevant to the specific advice being given.
We’ve taken all of this into consideration when designing our suite of templates. Although we insist on using our own templates (this is how we keep costs to a minimum), our reports meet suitability requirements for COBs 9.4 compliance.
But Don’t Just Take Our Word For It
Here’s what the FCA had to say following a file review that included one of our suitability reports:
“The suitability report appears well presented and clear, without a surplus of information or detail that can be confusing to clients”.
We do Appreciate
that each suitability report needs to be bespoke to a clients’ needs and objectives and should be personalised.
As experienced paraplanners, that’s where our skills shine.
We can incorporate your own branding, font, colour etc so that the suitability report follows your corporate style.
We can provide a sample of a suitability report on request.
Are you looking for a more bespoke service?
Don’t worry, we’ve got it covered. Our sister company, Outsourced Paraplanning provide a bespoke paraplanning solution that can be tailored to your specific requirements, using your own suitability reports. You can find out more at www.outsourcedparaplanning.co.uk.