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

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 Letter/Report

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

4) Costs and Charges Illustration/Statement

ATEB suitability includes a simple and compliant approach to meeting the mandatory Costs & Charges disclosure requirements for firms covered by MiFID II.

The suitability report generator provides two stand-alone templates:

  • Costs & Charges Statement – Ex-Post (done at least annually, based on actual costs for the previous period)
  • Costs & Charges Statement – Ex-Ante (done at outset for each new ‘product’ recommended, based on forecasts)

Users will also have the ability to reference these statements within the charges section of both the Suitability Report and the Periodic Suitability Review Letter/Report.