edevan5
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Many thanks for the recommendations and kind words about Genovo - always really interested to hear what paraplanners have to say. @JSFPL you'll find loads of info. about Genovo (including video tutorials, example reports etc) on our website. h…
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Disclaimer no. II...I'm no expert in FE Analytics, but yes transaction costs should be included as part of a MiFID II compliant costs and charges disclosure. Again, it is anticipated that you'd include the headline weighted average transaction ch…
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Here's the screenshot by the way..
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Hi @GallusAlice I'll get in my disclaimer straight off the bat - I'm no certainly no expert in Aviva's charging structure and I haven't written a suitability report in anger for a live case in a little while now, but I do know a little about Geno…
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Thanks @richardgough. Can you also do this for portfolios (in particular user-built custom portfolios) and then run off a report containing high level PORTFOLIO data like portfolio name, portfolio OCF, portfolio ex ante charge, portfolio 1, 3 and 5 …
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Sorry, probably a very basic question for all you FE experts out there, but within FE is it possible for a user to create and save a filtered list of funds / portfolios that meet a set of user-defined criteria or a predefined 'recommended fund list'…
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@Rcaisley As you are no doubt aware, the required growth % in Genovo is designed to show the estimated annual return that the recommended alternative plan must achieve to provide a fund at least as good as that offered by the existing plan at the en…
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@sw1990 As the cofounder of Genovo, I'm sorry that your impression of Genovo isn't more favourable. Out of interest, what are you experiences of Genovo? Have you ever used the Genovo app to write a report or are you simply referring to some template…
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Never used it in anger so can't comment on how good it is, but Invidion have a Investment Bond Chargeable Event Calculator. https://www.invidion.uk/investment_bond_calculator.php
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For what it's worth there are all sorts of issues here and the adviser is likely to be in breach of the software provider's terms and conditions if they share their login details with you. To overcome the issues you highlight, and being purest about…
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Yes, this would typically be covered under a Data Processing Agreement between you and the Data Contoller (IFA). The DPA would cover how you (the Data Processor) process the personal data of the Data Controller's clients in order to provide your s…
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Thanks for the feedback @Nath and appreciate what you're saying. There is clearly no 'one size fits all' approach to this and I guess when the example report was created we were just trying to showcase everything that could be achieved However, bei…
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Hi @Rebecca_Tuck The figures within the report have only been added as examples and clearly don't stand up to close scrutiny! Sorry, didn't mean to mislead. There is no fancy calculations going on here (yet) in terms of ex-post charges discl…
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Hi, We’ve recently revamped our review report and I’ve attached an example report for you to have a look at. Although the new MiFID II reporting requirements were one of the main drivers for the revamp, we were also keen to try to design a proces…
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Thanks @parawhat for chucking the Genovo hat in the ring! @CQplanning both ourselves and ATEB offer free trials. I'd suggest putting both through their paces to see which one works best for you - it would certainly be interesting to hear your tho…
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May be you could ask their new DB transfer 'robo-paraplanner' service? http://citywire.co.uk/new-model-adviser/news/national-advice-firm-launches-db-transfer-robo-paraplanner
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Here's what we use in the Plan Comparison (replacement business) section of our reports..... "....It is not always easy to compare the charges of two plans on a like-for-like basis. Reduction in yield (RIY) is an industry standard figure that illus…
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Thanks Benjamin for your comprehensive response. A bit of bed time reading for me - insomnia will be a thing of the past!
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Gustavo_Fring For what's it's worth I agree. Including an annuity comparison and CY A seems rather counter-intuitive to me.....
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Sorry, here's points 4 & 5 of original post...save flicking back... 4) I strongly believe in empowering people and would always advocate transparency. However, I do think there is a real danger that the presentation of this costs and charges da…
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Thanks @parawhat really appreciate your comments and feedback. Answers to your queries below: Yeah, I’ve seen that providers have been quoting charges in monetary terms for “subsequent years”, but IMHO, in the absence of a crystal ball, this is at …
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All (if any) of the providers may not be there yet, but in terms of ex-post reporting surely given time they'll be able to provide accurate costs and charges in monetary terms for each plan broken down into the different elements for the past 12 mon…
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Hi all, I’ve spent a bit of time over the past few weeks reviewing how we disclose costs and charges in our suitability reports so this post has been very timely and extremely useful. I also have to say that it exemplifies everything that’s great a…
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Hi Stuart, We've done a lot of work on this and even appointed our own internal GDPR coordinator to ensure we're "GDPR ready". I asked him to have a quick look at your query and I've included his response below. This is going to be a bit of a minef…
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Hi Keith, Please don't take this as gospel as I'm not sure anyone is 100% clear on this, but we've interrupted this to mean that the SR should be issued to the client before the application is submitted to the provider. Hope that helps in some way…
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For those of you who don't have a FE Analytics license, FE Trustnet (the free version) also has a "MIFID II - TARGET MARKET, COSTS & CHARGES" info box under the All Units tab.
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Thanks Mike and Richard for your kind words. Theresa, I believe all the main players offer a free trial. I'd suggest taking them all for a 'test drive' so you can see for yourself which one works best for you. If you'd like us to walk you throug…