For many advisers, investment proposals have devolved from being essential planning tools that aim to engage and benefit clients to legally sounding documents clients can’t comprehend.
According to Ingrid Breed, Amity Investment Solutions adviser experience manager, this can cost a business dearly.
In an internal article, Breed (pictured above) explained that the original aim of investment proposals was to be a roadmap, a practical document helping a client to understand their financial position, where they were headed and how the adviser’s recommended investment strategy would help them get there.
However, with ever-increasing regulation and compliance requirements, advisers’ focus on creating these documents has shifted to a ‘tick-box’ approach, aligned with Financial Advisory and Intermediary Service Act (Fais) and treating-customers-fairly requirements.