ATEB Template

Start with the ATEB template named ‘Defined Benefit Recommendation to Retain Template - FULL ADVICE’. 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

  • This template is for recommendations pertaining to transferring from a Defined Benefit Scheme; it is NOT designed to be used for recommendations pertaining to switching from a Defined Contribution Plan.
  • Care should be taken when preparing this template due to the regulatory risk associated with this type of transaction.
  • 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: Defined Benefit Scheme 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:

 

  • Defined Benefit Review – Summary of Advice
  • About Your Firm
  • Background to our Meeting
  • Current Personal and Financial Circumstances
  • Agreed Objectives and Priorities
  • Attitude to Investment Risk

You may want to include further sections as standard.

Defined Benefit Review – Summary of Advice

Question ‘Are you recommending the client retain or transfer the scheme?’ set to ‘Retain’

 

About your Firm

Assumed ‘focussed independent advice’ provided

Amend as necessary

Background to Our Meeting

Bespoke ‘Other’ default text used under ‘Who contacted who’

Amend as necessary

 

Assumed client is not elderly or vulnerable

Amend as necessary


Assumed that disclosure documentation will be included with the report or has previously been issued



No disclosure documentation pre-ticked

Consider whether any documentation can be selected as standard. 

Current Personal & Financial Circumstances

Summary of the Client(s) Current Personal and Financial Circumstances

Complete on a case by case basis

 

Personalised Paragraph about Current Personal and Financial Circumstances pre-ticked

Complete on a case by case basis

Agreed objectives and priorities

Comprehensive (full) review assumed and that no limits were placed on the scope of advice

Amend as necessary

 

Objective used: ‘Review your current pension arrangements - You would like to review your existing occupational pension benefits to determine whether they remain suitable and on track to meet your retirement objectives.’ 

Amend as necessary

Attitude to Investment Risk

Default introduction to risk paragraph pre-selected

Consider whether to use an in-house standard paragraph

 

Default ATR category used

 Amend as necessary

 

Assumed no change in client ATR from previous rating

 Amend as necessary

 

Default introduction to capacity for loss pre-selected plus additional text for pension transfer advice

Consider whether to use an in-house standard paragraph


Describe capacity for loss section left blank

Complete on a case by case basis


Default introduction to transfer risk paragraph pre-selected

Consider whether to use an in-house standard paragraph


Client’s attitude to transfer risk conclusion/outcome assumes a transfer would not be suitable.


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 Plans

 

 

Plan Builder

Set to Existing Defined Benefit Scheme or Other Occupational

 

 

Product: Defined Benefit Scheme

 

Plan Details

Review outcome is to ‘retain this scheme with no changes.’



Actions applicable to this plan set to ‘Retain Scheme (no change)’


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

Add in all specific potential disadvantages required for the template

Situation on death

Assumes current death benefit options have been discussed with client.

 Nominated beneficiary set to ‘No’

Amend as necessary on a case-by-case basis

Discounted Alternatives

Blank

To be complete on a case-by-case basis

Further Considerations

Blank

To be complete on a case-by-case basis 

Retirement Plan Charges


 


Default to question; ‘Do you wish to include a breakdown of charges? set to ‘No’

 

Planning Ahead




Sections included:

 

  • Wills
  • Power of Attorney

You may want to include further sections as standard.

Wills

Blank

Consider if any options can be added as standard to the template

Power of Attorney

Blank

Consider if any options can be added as standard to the template

Important Information




Sections included:

 

  • Cost of Our Services
  • Regular Reviews
  • Changes in Your Circumstances
  • Emergency Funds
  • What Happens Next
  • Client Declaration

You may want to include further sections as standard.

Cost of Our Services

Blank

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)

If this is not the case, de-select this in the Report Builder section of the template (see above)

Changes to Your Circumstances

Default text selected

Consider whether this meets your needs or whether amended text or a suitable standard paragraph is required

Emergency Funds

Blank

Amend as necessary

What Happens Next

Blank

Amend as necessary

Client Declaration

Some default options selected, otherwise blank

Complete all other declaration options required for the template 

Appendices


 


Assumes ATEB Glossary of Terms to be included within the report. 

 


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