On 14 June, the FSA wrote to CEOs of wealth management firms, requiring a response by 9th August.
The letter summarised the findings of a review to assess suitability of client portfolios against documented client information. It also asked the CEO to consider whether their firm meets the suitability requirements and how this can be demonstrated.
A number of the aspects highlighted in the review as failings can be addressed using Dynamic Planner, our front office and financial planning application. Many leading firms currently use Dynamic Planner to hold client records and manage their financial planning needs. This includes risk profiling, asset allocation, model portfolio and investment fund selection and ongoing review.
We understand that each welath management firm will have its own way of working. However, if as a result of conducting the review, you have identified areas in which you would like to introduce technology – please talk to us.
There are two areas in which we may be able to help you:
Dynamic Planner can support you with:
We can help to ensure that investments are aligned to client risk profiles, as we offer a fund risk profiling service that increasing numbers of fund managers are utilising.
Please contact Shelley Robertson, Marketing Manager on 0118 903 5850 or send an email