Genovo Suitability Report New Features & Updates July 2016

Team Genovo

Here’s a summary of the new updates and features (including new defined benefit pension transfer and insistent client options) you’ll discover the next time you log in to the Genovo suitability report app.

App

Module	Feature	Update / Enhancement
Pension Reports	It is now possible to make recommendations in respect to DB pensions. Read more...	Ability to review DB pensions. Option to transfer DB pensions. New Insistent client text in line with FCA guidance.
The Report	New Defined Benefit TVAS section	This section will be automatically inserted into the appendix of the report when a DB pension transfer is recommended.
Report Builder & report template	Following feedback from our users we've made the app and the report less "product" centric.	We've removed the word "product" from: - The auto-generated tables in the app and the report. - The standard report text.
Report Builder	Appendix - Glossary of Terms	We've shifted the order of the appendicies so the glossary of terms now comes out before the technical information.
Report Builder	Relevant advice sections are automatically added to the Report Builder	We've updated the rules so the relevant section(s) are automatically added when a particular recommended actions is selected / other related sections are inserted.
Write / View Report	Example Reports	We've added an example DB transfer report. Learn how to refresh the example reports in your account

Section Wizards

Section(s)	Step(s)	Update / Enhancement
All Review and Recommendation Sections	Plan Summary	The Ownership field is now an editable drop-down so you can over-type and add your own custom text instead of just selecting the client's first name.
Pension Review	Plan Summary	We've added a new pension type: Defined Benefit Pension
Pension Review	Plan Summary	We've added a new optional field: Leaving Date
Pension Review	Plan Summary - Add / Edit Plan	We've added the following yes / no fields: Include summary of defined benefit pension benefits? Include details of defined benefit scheme’s funding level?
Pension Review	Recommended Action	We've added some new recommended actions for sole use with DB pensions. Including ones for use with insistent clients.
Investment Review	Plan Summary	We've added a new investment: National Savings Pensioner Bond
Investment Review	Recommended Action	We've added some new recommended actions for use with deposit-based investments.
Pension Recommendation	Disadvantages Other Solutions	We've added some new advice options & advice reasons for possible use with DB pension transfers.
Investment Recommendation	Plan Summary - Add / Edit Plan	We've added the following options to the Income Frequency field: Natural Yield Fixed Regular Amount
Important Information	Supporting Information	We've added some new advice options & advice reasons for possible use with DB pension transfers.

Report Content Manager

Section	Snippet Name	Update / Enhancement
Introduction	Client Background Financial Knowledge	We've made some small changes to the wording.
Pension Review	Title & Opening Benefits & Features Disadvantages Further Info Heading Further Info (pension switch & transfer) Further Info (draw benefits)	We've made some small changes to the wording.
Pension Review	CETV Date DB Pension Benefits DB Pension Scheme Elements DB Funding Level Insistent Client Warning Further Info (draw benefits comparison)	These are all new snippets that have been added for DB transfers.
Investment Review Protection Review Review of Existing Retirement Income Plans	Title & Opening Disadvantages	We've made some small changes to the wording.
Pension Recommendation	Why Product Expression of Wish Cancellation (switch) Alternative Solutions	We've made some small changes to the wording.
Pension Benefits Recommendation	Why Product Expression of Wish Alternative Solutions	We've made some small changes to the wording.
Investment Recommendation	Why Product Alternative Solutions	We've made some small changes to the wording.
Risk Warnings	Defined Benefit Pension Transfer	This is a new snippet that's automatically inserted when a DB transfer is recommended.
Risk Warnings	ISA Investment Switch	We've updated the rules associated with these snippets to ensure they fire when any relevant recommended action is selected in the review sections.
Appendix - DB TVAS	Title & Opening Comparison of Estimated Pension Benefits Critical Yield Drawdown Income Tax Free Lump Sum Comparison of Death Benefits Important Notes	This is a new section, the snippets of which will be automatically inserted when a DB transfer is recommended.
Appendix - Product Information	Title & Opening	We've made some small changes to the wording.
Appendix - Glossary	Defined Benefit Pensions	This is a new snippet that's automatically inserted when a DB transfer is recommended.
Appendix - Glossary	Pensions	We've made some small changes to the wording.
Appendix - Tech Notes	Defined Benefit Pension	This is a new section that's automatically inserted when a DB pension is added to the Pension Review section.
Appendix - Technical Notes	Pensions Pension Switching	We've made some small changes to the wording.

Please remember the changes we make to the report template will only take effect in your reports automatically if the Genovo version of the snippet is selected as active in your Report Content Manager (it is by default).  For more information about the Report Content Manager and updating of snippets check out the Genovo Knowledge Base.

Let us know what you think

If you’ve got any suggestions – no matter how big or small – as to how we can improve Genovo or there’s a new feature you’d like to see added, we’d love to hear from you. Send us a message with your thoughts and we promise we’ll get back to you.

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