Annual Review Flexi-Access Drawdown Template

Modified on Sun, 15 Nov, 2020 at 8:41 PM

ATEB Template

Start with the ATEB template named ‘Annual Review Flexi-Access Drawdown Template’. You will find this in the ‘Sample Templates’ tab on the ‘Templates’ page. The template has been pre-populated with basic information that is not client specific (see table below).

Firm Specific Template

Create your own version of the template using the ‘Duplicate Template’ button. Give it a meaningful name. Modify the template to make it firm specific, for example by adding company and/or adviser details. Consider the comments in the table below under the column ‘to be considered’ when modifying or creating templates based on the ATEB version.

Test Template

You may not get the template right first time; therefore, once the template is created, use it to generate a client specific test report. Based on the generated report, you may need to amend the template further. Repeat this testing process until you have a template which enables full client specific personalisation but contains common standard content. The time spent here will save hours going forward.

Important Notes

Prior to use, your template should be checked by your compliance department or compliance consultant.
This template is provided only as a guide. ATEB IT Solutions Ltd does not accept legal or regulatory responsibility for the contents of the template.

ATEB Suitability Section	ATEB template defaults	To be considered
Getting Started
Report Details	Defaulted to individual (single) client	Amend as required
	Report Title: Annual Review	Amend as required
	Advice Area: ‘Retirement Advice’
	Covering Letter: defaulted to ‘No’	Amend as required
	Remainder of section blank to allow for case-by-case personalisation	Consider whether more fields can be added to the template
Introduction to Advice
	Sections included: Background to our Meeting Current Personal & Financial Circumstances Agreed Objectives and Priorities Attitude to Investment Risk	Amend as necessary
Background to Our Meeting	Assumed part of annual review	Amend as necessary
	Assumed client is not elderly or vulnerable	Amend as necessary
	Assumed that disclosure documentation has previously been issued	Amend as necessary
	No disclosure documentation pre-ticked	Do not pre-populate and enter on a case by case basis
Current Personal & Financial Circumstances	Personalised Paragraph about Current Personal and Financial Circumstances pre-ticked	Consider if further sections required as standard
Agreed objectives and priorities	Focussed review assumed	Amend as necessary
	Objective used: ‘Review your current pension arrangements’ and ‘You would like to review your existing Flexi-Access Drawdown plan to determine whether your targeted retirement income is still appropriate and sustainable, and consider any changes needed.’	Amend as necessary
Attitude to Investment Risk	Default introduction to risk paragraph pre-ticked	Consider whether to use an in-house standard paragraph
	Default ATR category selected	To be entered on a case by case basis
	Assumed no change in client ATR from previous rating	Amend as necessary
	Default introduction to capacity for loss pre-selected	Consider whether to use an in-house standard paragraph
	Remainder of section blank to allow for case-by-case personalisation	Consider whether more fields can be added to the template
Retirement Advice
Foreword to Advice	Blank to allow for case-by-case personalisation	Consider whether any default text is appropriate
Annual Allowance and Carry Forward Considerations	Default to question: Include Annual Allowance and Carry Forward Considerations section? set to ‘No’	Consider whether a default of ‘Yes’ appropriate and whether any further standardisation required
At Retirement Alternatives	Blank
Recommended Plan
Plan Builder	Set to Existing Plan
	Provider/Platform: blank	To be completed on a case by case basis
	Product: Flexi-Access Drawdown
Plan Details	Review outcome – ‘Other’ free text option selected
	Actions applicable to this plan set to ‘Income’ and ‘Withdrawals’	Amend as necessary
Recommendation Reasons	This section left blank to allow for case-by-case personalisation	Consider if further standardisation required for the template
Potential Disadvantages	Blank to allow for case-by-case personalisation	Consider if further standardisation required for the template
Critical Yield A/B Comparison	Default to question: Include Critical Yield A/B Comparison section? Set to ‘No’	Amend as necessary
Situation on Death	Default to question: Are you nominating a beneficiary in the event of the client’s death? set to ‘No’.
Discounted Alternatives	Blank	Consider if further standardisation required for the template
Further Considerations	Blank	Consider if further standardisation required for the template
Retirement Plan Charges
	Default to question: ‘Do you wish to include a breakdown of charges? set to ‘Yes’ with ongoing ‘Adviser’, ‘Product’ and ‘Fund’ charge rows added to table.	Amend as necessary
Investment Strategy Recommendation
	Assumes Investment Strategy Recommendation relevant to Existing plan only
	Preferred investment approach set to ‘Select and investment from Content Management’	Amend as necessary
	‘Include Fund Performance’ defaulted to ‘No’	Amend as necessary
	Remaining section left blank to allow for case-by-case personalisation	Consider if further standardisation required for the template
Planning Ahead
	No sections included	You may want to include sections as standard
Important Information
	Sections included: Cost of Our Services Regular Reviews Changes in Your Circumstances	You may want to include further sections as standard
Cost of Our Services	‘Ongoing Servicing Fee’ selected as charging method	Set any default charges applicable across the firm
Regular Reviews	Default entries used
	It is assumed that a regular review service will be implemented (or is in place)	Amend as necessary
Changes to Your Circumstances	Default text selected	Consider whether this meets your needs or whether amended text or a suitable standard paragraph is required
Appendices
	Assumes ATEB Glossary of Terms to be included within the report.	Amend as necessary
	Consider whether any customised appendices should be included as standard
Glossary
	Default options selected	Amend as necessary
Risk Warnings
	Default options selected	Amend as necessary