How to write a watertight client file

Compliance, while much maligned, is a necessary evil for financial advisers. This is particularly true when it comes to client files, as advisers are increasingly called upon to prove that they have followed all necessary steps to meet their clients’ needs and objectives. However, for many advisers, a compliant, well-ordered file that documents every aspect of the pre- and post-planning process is not only a safety net, but an aid. Thorough record keeping A compliant client file should enable an adviser to clearly demonstrate that they have fully and correctly served a client and th...