What type of Reports/Templates can be created via ATEB suitability?

1) Suitability Report

Users are able to create a full suitability report which can include the following section areas: Retirement, Investment, Mortgage and Protection (options available depend on licence type). In all section areas, multiple plans can be recommended; in the Investment and Retirement recommendation sections, it is possible to create new and/or existing plans. 

If the company holds a Zenith licence, it is also possible to create, save and upload model portfolios, company paragraphs and user specific paragraphs into the system and generated documents. Suitability reports work with a 'top-down' approach, i.e. all the selections chosen at the start of the wizard will determine the subsequent options.

2) Continued Suitability Review Letter (legacy)

Please note that as of the suitability upgrade on 06/04/21, the 'Continued Suitability Review Letter' has been incorporated into our 'Periodic Suitability Review Report/Letter'. As a result this standalone template is being retired from the application. ATEB will continue to provide access to this legacy template for a period of 3 months at which point it will be removed. For those firms wishing to complete a continued suitability review we recommend you select the 'Periodic Suitability Review Report/Letter' option instead.

To assist with the ‘Periodic assessment of suitability’ requirements under MiFID II, users can create a shortened ‘Confirmation of Continued Suitability’ Letter. This provides the ability to confirm in writing, that existing investment/retirement plans remain suitable to a client’s investment objectives and attitude to risk alongside a summary of the reasons why the investments continue to meet those objectives or alternatively, a statement referring the client back to the suitability report for details on the original rationale. 

3) Periodic Suitability Review Report/Letter

This template provides the opportunity to create a Periodic Suitability Review report/letter or a Continued Suitability Review letter.

The Periodic Suitability Review template is designed to assist firms in the production of their periodic review letters and reports in a fast, efficient and compliant manner (don't forget this must be done at least annually for clients with whom there is an ongoing relationship). 

This template enables users to review a client's current personal and financial circumstances, attitude to risk and investment objectives; alongside making any of the following types of recommendation/action in respect of the client's existing plans:

• Fund Performance Review
• Fund Switch
• Bed and ISA
• Lump Sum Investment/Contribution
• Commence, amend or cease a Regular Investment/Contribution
• Commence, amend or cease Investment Income

To assist with the ‘Periodic assessment of suitability’ requirements under MiFID II, users can create a shortened ‘Confirmation of Continued Suitability’ Letter. This provides the ability to confirm in writing, that existing investment/retirement plans remain suitable to a client’s investment objectives and attitude to risk alongside a summary of the reasons why the investments continue to meet those objectives or alternatively, a statement referring the client back to the suitability report for details on the original rationale.

As of the suitability upgrade on 06/04/21, users now have the option to generate an ‘Ex-Post’ costs and charges statement from within the ‘Periodic Suitability Review’ template. By selecting this option, firms are now able to complete their periodic suitability review reports/letters and disclose the cost and charges that have applied to the clients’ existing plans in one seamless document.

4) Abridged Advice Report

The Abridged Advice Report provides a framework to assist firms in the production of DB Transfer Abridged Advice reports; this is in line with the FCA's PS20/06 rules. 

To view these rules in the FCA's website, follow this link: https://www.fca.org.uk/publication/policy/ps20-06.pdf. 

To view the ATEB Consulting blog post on Abridged Advice, follow this link: https://news.ateb-group.co.uk/ps2006-part-two/.

5) Ex-Ante Costs and Charges Statement

This is part of ATEB Suitability's simple and compliant approach to meeting the mandatory Costs & Charges disclosure requirements for firms covered by MiFID II.

The Ex-Post Costs and Charges Statement is now a stand alone template in Suitability and is completed at outset for each new ‘product’ recommended, based on forecasts.

Users will also have the ability to reference this Ex-Ante Statement within the charges section of both the Suitability Report and the Periodic Suitability Review Letter/Report.

6) Ex-Post Costs and Charges Statement

This is part of ATEB Suitability's simple and compliant approach to meeting the mandatory Costs & Charges disclosure requirements for firms covered by MiFID II.

The Ex-Post Costs and Charges Statement is now a stand alone template in Suitability and is completed at least annually, based on actual costs for the previous period.

Users will also have the ability to reference this Ex-Post Statement within the charges section of both the Suitability Report and the Periodic Suitability Review Letter/Report.