TRS Headache

Hi all,

I'm having a difficult time getting my head around what/when an adviser is required to obtain "proof of registration" for the TRS when conducting annual reviews of existing policies in trust.

I keep finding conflicting information about when an adviser is required to have sight of it.

As an example, if you had an existing client which had an investment bond held in a discretionary trust set up in say 2018, are you required to get the proof of registration document before giving any advice on the product/investments within (including at annual review) or is it not required?

If you have a brand new client now (i.e. a new business relationship), where the recommendation is to set up an investment bond under a provider's own discretionary trust (i.e. another new business relationship with the insurance provider), at what point are you required to obtain TRS proof, and are you required to keep requesting this at every annual review?

Appreciate the help




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