I am having another think about the content of the reports that we produce and whilst we have made them shorter, I still think they are too long.
I am seen some reports which literally just contain what the FCA want and everything else is in the appendix.
At the moment we have the following sections
Your Objectives and My Recommendations
Product & Provider Recommendation
Cost Comparisons where appropriate
Duty of Disclosure
My thoughts are
Put in the risk profile section just say we agreed x level of risk based upon your term, knowledge and capacity for loss and further details can be found in the appendix
Product and Provider Recommendation
Put in I am recommending X product on the Y platform the reasons for which can be found in the appendix
I am recommending X portfolio and further details can be found in the appendix
This, I believe would cut the main body of our report down by half, from 14 pages to 7.
Does anyone have any thoughts on this approach or been told its not compliant?
My concern is that we havent actually shorterned the report, but rather had to make the client jump around to find stuff?
Any feedback would be appreciated.