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Defaqto launches suitability report templates

28 January 2019

Financial information group Defaqto has teamed up with Eversheds Sutherland to make suitability report templates available through Defaqto Engage Core. 

The suitability report templates cover a wide range of content including pension switching and contributions, pension drawdown, lifetime annuities, investment switching and contributions, IHT planning using investment bonds, individual life and critical illness, income protection and business protection.

It will sit alongside the current reporting capabilities of Engage Core, enabling advisers to use the same tool throughout the advisory process.

The templates have been designed to be flexible and amended on a firm level, enabling firms to accommodate templates and content that may have previously been developed by the firm internally or by a third-party consultancy.

Simon Collins, managing director regulatory at Eversheds Sutherland Consulting, said: “Financial services regulation continues to present major compliance challenges and business opportunities. We are delighted to have supported Defaqto in developing templates which are designed to meet the FCA guidelines to support advisers in their day-to-day jobs.”

David Cartwright, head of insight and consulting at Defaqto (pictured), said: “Our suite of suitability reports templates is there to help advisers meet their obligations under the regulations governing financial advice. Advisers are expected to relay the story that took place. That is why Defaqto’s templates provide some standard text to help frame the advice but aims moreover to provide detailed hints and tips designed to help the adviser craft a bespoke suitability letter for their client in line with the FCA’s requirements.”

Professional Paraplanner