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Benchmark your DB Transfer advice

£399.00

A practical workshop which will help benchmark your DB advice

We’ve condensed 18 months development work on DB TV Suitability Reports into a one day workshop.

There are fundamentals which should be covered in every suitability report and we’ll explain these key elements in detail first. Then we’ll benchmark your cases by asking two key questions:

  1. How do you make your advice ”FOS-proof”?
  2. How we evidence the fact that our clients understand your advice?

You’ll leave with working documentation you can use in the future to assess your own cases and an independent assessment of your submitted cases based on all our combined experience.

Submit your application for attendance and with it you can submit a case for review by John Reynolds,  Chris Wells and Trevor Williamson – from which we’ll choose a selection of four (4) from those submitted, to review in the afternoon.

The objective of this day is simple: share our collective experience and knowledge to help your business become ‘Armageddon’ proof by limiting the possibility of a remediation claim (through the FOS, or even worse – through the courts..) for unsuitable advice being upheld by FOS against you and your business.

 

Chris Wells

Chris has been working in financial services for over 25 years, initially working as a tied adviser and then as an IFA. He joined the Financial Ombudsman Service in 2000 where he specialised in working on investment and pension issues. He managed teams of adjudicators that investigated complaints as they came to national prominence, including mortgage endowments, Equitable Life and Arch Cru.

Having left FOS in 2015, Chris set up his own consultancy (IFAs Included Ltd) and has been working with IFAs across the country to help them understand how to prevent complaints and understand more about how their clients should be communicated with. He has a unique insight into how FOS views complaints (which isn’t the same as the FCA) and shares this knowledge on a one to one basis, with groups of advisers and also by speaking at seminars.

 

Trevor Williamson

Is programme Leader MSc Financial Planning & Business Management at Manchester Metropolitan university and has been involved in the design and delivery of undergraduate and postgraduate programmes of study related to Financial Planning since January 1992.

As a Former member of the Education Board of the Institute of Financial Planning and member of two working groups of The Financial Planning Standard Board (US), he has a long-standing relationship with the communities engaged in the provision of Financial Planning advice. In his roles with the IFP and FPSB he was involved in curriculum development, establishment of educational standards and assessment criteria leading to the award of the Certified Financial Planner qualification. Trevor holds the Certified Financial Planner and Chartered Wealth Manager (CISI) qualification. He is presently working with the Chartered Investment and Securities Institute in the development of a pathway to a Level 7 qualification and has been involved in the design and delivery of case study writing and teaching workshops at leading educational establishments in Australia, India, Indonesia, Malaysia, South Africa, Kenya and throughout Europe.

And he is delighted at the prospect of joining Expert Pensions in the New Year as tutor for the new AF8 Later life Retirement Planning exam, working alongside John to continue driving up standards in the profession.

17 January 2018
Milton Keynes, Kentshill.
Maximum of 20 places
£399+VAT per person

Takeaways
1. DB TV SR framework covering the key points
2. Four cases assessed with feedback from John, Chris and Trevor
3. Summary of Trevor’s tutorial on critically assessing understanding

Scroll down to view the workshop agenda

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The agenda for the day

9.30-12.30: Your ‘framework’ for your report

1. APPETITE for risk: NOT just attitude for investment risk

Appetite for risk was used 20 times in the CP17/16 – do you know what it means and how to use it?

2. Sustainable income: a 3-ways robust test of income sustainability

The FCA has said: ‘’needs before objectives’’: COBS 19.1.17 ”the extent to which benefits may fall short of replicating those in the defined benefit pension scheme

3. Suitability is ”specific, detailed and personal”

This is the area which probably needs most work: reasons why the advice is suitable for this client.

COBS 19.1.6: ”A firm should only then consider a transfer, conversion or opt-out to be suitable if it can clearly demonstrate, on contemporary evidence, that the transfer, conversion or opt-out is in the clients best interests.

4. How do you actually FOS proof your SR?

Chris Wells will walk you through how the FOS will tackle a complaint, when it comes (not if).

5. How do you (and FOS) know that your client understood what just happened?
Trevor Williamson will challenge your perceptions of ”understanding” and explain how you might be able to prove your clients understood what they were doing? Are you asking the right questions?

*Lunch*

1.30-4.30: Putting it into practice by applying the rules of the framework

Using real case studies supplied (redacted) from the audience before the workshop, we will apply the principles covered in the morning into a number of actual real cases (supplied by the audience) to highlight the key learns in real case work. These cases will have been reviewed in-depth by John, Chris and Trevor.

1. Case 1
2. Case 2
3. Case 3
4. Case 4

Review and summary: would your advice stack up?

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