In today’s evolving financial landscape, suitability reports are more important than ever, especially in light of the Consumer Duty regulations. As an experienced outsourced once-(and still at heart)-paraplanner, our Chief Operations Officer, Jo Campbell, has tackled a wide range of suitability report templates - from well-crafted to confusing and overly complex.
With the FCA’s guidelines now placing greater emphasis on transparency and consumer understanding, firms face increasing pressure to ensure their reports not only comply with regulatory standards but also clearly communicate advice to clients.
The challenge, however, lies in striking a balance between meeting compliance requirements and delivering clear, concise communication. Overly technical or jargon-heavy reports can leave end clients confused, while overly simplistic ones may fail to provide the necessary depth of advice.
In this article, Jo explores how to design suitability reports that align with both FCA guidelines and the core principle of Consumer Duty: ensuring that clients fully understand the advice given. From structuring reports to simplifying complex terms, Jo offers practical tips for creating effective, client-friendly suitability reports in the post-Consumer Duty era.
Click here to read the full guest PIMFA article from Jo.
Jo is chief operations officer at Verve with a background in paraplanning and unwavering dedication to incredible service, client focus and building a team set up to thrive.
