Frequently Asked Questions



Q.     If you answer yes to “does the client have sufficient knowledge and experience to understand complex high risk products” then why does the system take out all but complex high risk products, Some of my clients do have the necessary knowledge and experience but I may want to recommend a SIPP.

A.    For this particular piece of advice where knowledge and experience is not required you need to answer “no” to the question.

 

Q.    What if my client wants both Investment and Pension advice? when I tick 'yes' to both of these it removes all products.

A.    In this scenario you need to ensure you do two assessments, one for the Pension Advice and one for the Investment advice.

 

Suggestions:

It has become clear from recent feedback that there a few questions that are causing a few queries. These are questions that when answered a particular way will filter out all products except those that relate to the subject at hand. For example, does the client have sufficient knowledge to understand high risk products. If you answer yes to this then the system will filter out all products that are not complex and high risk. When this is the case it is really important that the adviser uses the notes boxes to explain the type of the advice being given and why the panel of products is appropriate. Advisers need to learn to use the system to get the results that they want and then use the notes boxes to explain why a panel of products is appropriate.

This relates to the following questions:

i.                    Does the client have sufficient knowledge and experience to understand complex, high risk products?

ii.                   Is a transparent and RDR friendly charging structure appropriate?

iii.                  Is a product that allows gearing appropriate?

iv.                  Is the investment term less than 5 years?

v.                   Is a product with counterparty risk appropriate?