Kate Hall, lead paraplanner, looks at how the new Consumer Duty rules will affect the day-to-day aspects of the paraplanning role, in particular, the writing of suitability reports.
I’ll start by saying a paraplanner’s job is much more than just writing the report. It’s about absorbing yourself in the case and working towards the same outcomes as the adviser; essentially concluding what is best for the client, based on their objectives and circumstances. In this article, I’ll look at how the upcoming Consumer Duty will affect this process.
At its heart, Consumer Duty is about positive client outcomes. Report writing is about setting out advice in a clear and easily understandable way. But report writing, and paraplanning in general, also provides a ‘sense check’ as to whether the advice stacks up.
Read more in our Professional Paraplanner article here.
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