I've always been fascinated by suitability reports and the nuances of them (I'm a paraplanner through and through) and this is just becoming ever more interesting as no fewer than five separate businesses have launched their AI suitability report writing tool. The general consensus of reports being time-consuming to write is something that tech companies are, understandably, trying to fix via, um tech.
However, from Jo's blog we can see that if we take a step back, a large part of the time-consuming problem isn't that the content takes too much time, but that too much content is often being put in. We have preached about this for years (and years) but with compliance firms contradicting us by scaring advisers into thinking that they need to put everything into a report, then we've been shouting into a void quite a bit. (We've always had a different approach to compliance, for exactly this reason, and you can read below the impact that this has had on one of our firm's).
Whilst technology can absolutely help speed up lots of things (including client friendly reports) my concern is that it ends up speeding up the wrong thing. That the over lengthy reports that are "backside-covering" will become ever more the norm because they just take less time to write. Just because they're then done faster, doesn't mean that they (or the overall advice) are any more compliant or any more likely to stand up to a FOS review. One to bear in mind!
Other bits are a cheeky lil insight into our CPD brunches (if they're not reason enough to become a Verve member, I don't know what is!) and a really interesting article from Citywire (before the paywall hits!) showing all the deals done in finance in the last three years!
Enjoy a peruse and have a wonderful weekend all,
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