PPOL has evolved
The FSA/FCA over the past three years highlighted and scrutinised within their thematic reviews the failure of firms to confirm the Investment Proposition recommended. In response PPOL created a section that enables propositions to be detailed in a personalised manner. The section allows any or all of the following areas to be detailed
- If a Wrap or Platform service was recommended
- The type of Mandate agreed
- The Investment Research undertaken
- The Investment Strategy advised
- If Asset Allocation was created In House or via a specialist third party
- What Style was being proposed – Active, Passive or a Blend
An example of a completed report including an Investment Proposition recommendation can be downloaded here
The FSA raised concerns on how firms are justifying their ongoing fees. In response PPOL created a section enabling a review of the previously recommended proposition with the objective to confirm if it remains suitable moving forward.
The advice aspects that can be reviewed and discussed are as follows:
- Wrap / Platforms
- Mandate
- Research processes
- Investment strategies
- Rebalancing of portfolios
- Asset Allocation
- Investment styles
The section provides the opportunity for firms to confirm if the aspects of the proposition remain suitable and confirm how they should continue.
An example of a completed review report can be downloaded here
PPOL have introduced a Mortgage Review section whilst revamping the Mortgage recommendation section to ensure it reflects the requirements of the FCA’s Mortgage Market Review (MMR) introduced in April 2014.
The mortgage review section provides the ability to review any type of mortgage e.g. Buy to Let, Help to Buy or a Sharia Law compliant mortgage. The review has been designed so you can recommend the mortgage be:
- Retained
- Redeemed
- Re-mortgaged
- Partly Repaid
- Make an Over Payment
- Make a Further Advance
- Or complete a Rate Switch
A demonstration video can be watched here
PPOL have introduced a Protection review section and at the same time revamped the Protection recommendation section.
The Protection Review section allows you to review the following policy types:
- Decreasing Term Assurance
- Level Term Assurance
- Family Income Benefit Assurance
- Whole of Life
- Income Protection Plan (Individual)
- Income Protection Plan (Executive)
- Key Person
- Business Ownership
- Relevant Life
- Renewable Term Assurance
- Pension Level Term Assurance
- Pension Decreasing Term Assurance
The review section has been designed so you can recommend the policy be:
- Retained
- Rebroked
- Placed in an Absolute Trust
- Placed in a Discretionary Trust
- Assigned
An example of a completed report can be downloaded here
PPOL introduced a Client Library primarily to avoid re-entry of personal information relating to a client. The client can be set up by simply writing a new report or can be created directly into the Client Library. A summary of the benefits are as follows:
- Unlimited reports storage
- Unlimited clients can be created within My Clients
- Introduction pre-populated with client details saving re-entry of data
- All reports written for a client accessible via My Clients
For a full illustration of how to use your Client Library a demonstration video can be watched here