Paraplanner Martin Vaughan gives his top tips on creating the ideal client suitability lettter.
During a session at the Insititue of Financial Planning's Paraplanner Conference, Vaughan, of outsourcing firm Paragon Paraplanning, highlighted the role of suitability letters in compliance, educating clients, providing peace of mind and managing risk. However, he added: "You sometimes feel you're writing the suitability letter for the FSA and not for clients." Here are some of his tips for writing the ideal letter for clients: Before and after - table reports to suit what you know about clients and the knowledge they have - set a deadline, know your message and organise though...
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