It won’t come as a surprise that we’ve always thought research and due diligence is important, an essential exercise for any financial planning practice that takes suitability seriously.
We believe all Consumer Duty has done is make it that much more important.
Under Consumer Duty, there’s now a regulatory requirement for all firms to avoid foreseeable harms.
What that actually means is very subjective, but it’s that moment where you look back and think:
“We’ve dropped the ball here.”
“I wish we’d known that before we put clients onto that platform, or into that investment.”
Importantly, this applies through the life cycle of the client. So it’s not just about what the client needs now, but what they might need in future.
The good news is that Analyser has had this forensic approach to due diligence baked in since day one. At its core, Analyser has always been about having a robust, repeatable process underpinning your platform and investment selection.
We’ve built Analyser on what was suggested good practice from the regulator. What Consumer Duty has done is embed this as hard and fast rules.
A Consumer Duty headstart
If you don’t know where to start with your due diligence and suitability in this Consumer Duty world, we have your back. We have added five new templates to Analyser to give you a headstart. Drawing on our experience and expertise, they cover platforms and MPS and will have you on your due diligence and suitability way soon enough. In addition, we’ve added new, additional data points specific to Consumer Duty so you can now use Analyser to assess providers from a Consumer Duty perspective
Of course, subscribers to Analyser also have the Analyser team on hand to help ensure your due diligence and suitability pass muster.
You can give Analyser a go for yourself by signing up for a 14 day free trial here.