Genovo Suitability Report New Features & Updates August 2018

Team Genovo

Here’s a summary of the new updates and features you’ll discover the next time you log in to the Genovo suitability report app.

App

Module	Feature	Update / Enhancement
iO integration	The iO integration has been extended to cover Mortgage plans.	It is now possible to pull across a client's mortgage plans into the New Mortgage Details step as well as the Current Mortgage Details step of the Mortgage Recommendation section. You'll find further info about which fields are available via the integration here.
iO integration	Plan search dialog box	Following user feedback, an extra filter has been applied so only plans with the following stati appear in the search results: - In force - Submitted to Provider - Paid Up - Draft i.e. Out of Force plans will no longer be included.
iO integration	Extended product type filtering	Following user feedback, the following iO product types will now appear in the Retirement Income Review AND the Pension Review sections: - Personal Pension Plan - SIPP - Deferred SIPP
The report	New cleaner look report header and footer, with the option to upload a favicon.	Changes have been made to the standard report header and footer following feedback from our users. Read more>>
Customisation Dashboard	A new icon has been added 'upload favicon'	It is now possible to display a favicon in the top right hand corner of your reports. Read more>>
The report	Plan Summary tables in review and recommendation sections.	To solve the problem of text wrapping / leaching over 2 lines the Plan Summary tables will automatically render vertically rather than horizontally when more than 7 fields are included. Read more>>
The report	Client's attitude to risk description text	The format of how the client's ATR is rendered out in the {IS_ATRTable} tag has been modified. It will now be displayed as standard paragraph text rather than in a tabular format.
The report	Risk Warnings section	The format of the risk warnings table has been modified for greater impact and to make better use of space.
Plan Charges Disclosure	Initial Aggregated Total Charge in monetary terms in recommendation sections	The Plan Charges input screens and the ATC formulas have been extended to take account of instances where a different initial ATC % is being levied on the lump sum and the regular contributions being paid into a plan. Read more>>
Plan Charges Disclosure	The recurring Aggregated Total Charge in monetary terms shown in the review sections and the Appendix - Plan Comparison section.	There was an inconsistency in the formulas being used to calculate the Recurring ATC in monetary terms for existing plans in these 2 sections in that the later did not take account of any monthly contributions being invested in the plan whilst the former did. This inconsistency has now been corrected.
Plan Charges Disclosure	Impact of Recommended Alternative Plan	The formulas used to calculate the impact in monetary terms have been slightly changed and are now consistent with the formulas that are being used to calculate the ATCs in monetary terms in the corresponding review sections i.e. The new formulas use the fund (as opposed to the transfer) value and also take account of any regular contributions being invested in the existing plan.
Report Content Manager	Dynamic tags	Tags e.g. {PRV_ChargesTable} are no longer 'section dependent' and can now be moved out of their original section and inserted into any other section of the report. Albeit the associated content will only be rendered if the corresponding step has been completed. Read more>>
Executive Summary	Plan Summary tables for review sections	The first letter of the recommended action included in the Recommended Action column appended to the tables will be automatically capitalised.
Report Builder	Client Declaration	The name of this section has been renamed Adviser / Client Declaration to more accurately reflect its content.
Current and Recommended Investment Strategies	Transaction Charge	This field will now accept negative as well as positive integer values.
Report Builder	Genovo Suitability Report Sections Matrix	The matrix has been updated. See more>>
Provider Library	Providers Updated	Cofunds has been changed to Aegon Platform following upgrade in May.

Section Wizards

Section(s)	Step(s)	Update / Enhancement
Introduction	Knowledge and Experience	If you're signed up to a Company Plan Midi or above, we can now add custom 'knowledge & experience' options for you.
Pension Review	Recommended Action	The following new options have been added: - adjust the regular contribution - switch the underlying investments and adjust the regular contribution
Investment Review Pension Review Retirement Income Review Investment Recommendation Pension Recommendation Drawing Benefits from Pension Protection Recommendation	Key Disadvantages and Tax Implications	A new advice reason has been added at the top of the list: 'Do not include in this report' When selected the Key Disadvantages & Tax Implications snippet will be excluded from that report.
Mortgage Recommendation	New Mortgage Details Current Mortgage Details	The following options have been added to the Interest Rate Type Field: - Flexible Rate - Offset Rate - Standard Rate
Mortgage Recommendation	New Mortgage Details	The following options have been added to the Mortgage Type Field: - Further Advance - Second Charge Mortgage
Mortgage Recommendation	Further Advance Second Charge Mortgage	These are new steps where you can confirm why you have recommended a further advance / second charge mortgage.
Mortgage Recommendation	New Mortgage Details	Property Name has been renamed Property Address Loan Amount £ has been renamed Total Loan Amount (incl. all applicable fees) £. Expected Monthly Repayment £ (after initial interest rate expires) has been added as a new optional field.
New Investment Recommendation	Plan Summary	The following new investment has been added: NS&I Guaranteed Income Bonds
New Protection Recommendation	Why Term Why Cover Level	When recommending multiple protection plans it is now possible to provide distinct and separate reasons as to why the term and amount of cover has been recommended for each plan.
Important Information	Other Needs and Shortfalls	The text and options in this step have been reviewed and updated. General insurance advice has been added and what was Protection advice has been renamed Life insurance and protection in the event of ill health.

Report Content Manager

Section(s)	Snippet Name	Update / Enhancement
All review and recommendation sections	Key Disadvantages or Key Disadvantages and Tax Implications	Following a tip we picked up at the recent Report Writing Howow, the format of how this information is displayed in the report has been changed to give it extra impact.
Pension Review Retirement Income Review Investment Review	Aggregated Total Charge	The wording of this snippet has been slightly updated.
Mortgage Recommendation	Why Further Advance Why Second Charge Mortgage	These are new snippets associated with the 2x new mortgage steps.
Investment Recommendation Pension Recommendation	Aggregated Total Charge - just lump sum	This is a new snippet that will be triggered when the plan's initial charges are only being levied on the lump sum investment (not the regular contributions).
Investment Recommendation Pension Recommendation	Aggregated Total Charge - lump sum and regular contributions	The name of this snippet has been updated to distinguish it from the above.
Investment Strategy	ATR & Capacity for Loss	Minor changes have been made to the text as a result of the change in format to the ATR wording.
Client Declaration	Title & Adviser Signoff Client Signoff (Single Private) Client Signoff (Multiple Private) Client Signoff (Corporate and Trust)	The wording and formatting of these snippets have been changed slightly.
Appendix - Plan Comparison	Impact of Recommended Alternative	The wording of this snippet has been updated to reflect the changes to the formula used to calculate the difference in charges in monetary terms.
Appendix - Product Information	NSI Guaranteed Growth Bonds NSI Guaranteed Income Bonds	These snippets have been updated and added respectively.
Appendix - Glossary of Terms	Mortgages	A definition of the following terms has been added: - Further Advance - Portability - Second Charge Mortgage
Appendix - Technical Notes	Lasting Power of Attorney	Some additional info re: certificate provider has been added.

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 this video tutorial.

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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