Initial Meeting
Understand your clients and add value to the service you provide
When meeting a client for their initial financial assessment you’ll need to gather some comprehensive information on their financial situation, requirements as well as their expectations. SimplyBiz will provide you with a range of tools from fact find templates to attitude to risk modelling tools all designed to ensure you gather the information you need and allow you to demonstrate to the regulator you’ve understood your client’s needs and requirements.
Fact Finds
SimplyBiz will provide you with a range of detailed compliance approved fact find templates designed to assist you in gathering the information you require from your clients. Not only can you adapt the templates to suit you but by completing these detailed assessments of your client's financial situation and aspirations with them, you will also be illustrating the depth of analysis and understanding you're undertaking, to ensure you'll be making the most appropriate recommendations for them.
Risk Profiling Tool
Save up to £85 per month as a SimplyBiz Member
As part of your Membership, SimplyBiz will provide you with access to Distribution Technology's Dynamic Planner. This simple yet sophisticated, independent risk profiling tool uses a psychometric questionnaire to help you determine your client's attitude to risk and gives you the flexibility to discuss and change risk scores with your client to really ensure it is representative.
With the publication of the FCA paper 'Assessing Suitability', the attitude to risk tool offered By SimplyBiz assists advisers in meeting the requirements outlined by the FCA in assessing your client's willingness and capacity to take risk.
Client Service Agreements
Once you've determined the most suitable charging structure for clients, you'll need to communicate this formally. SimplyBiz will provide you with a Client Service Agreement template that you can tailor to your requirements. This compliance approved template will assist you in managing your client's expectations in understanding how the service you provide will be delivered and charged for.
