Genovo Suitability Report New Features & Updates May 2017

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
Client Library	New vulnerable client options	If the vulnerable client option is selected for a client, you will now be prompted to provide further info regarding any relative / friend who was present during your meeting(s).
Review sections	Enhanced Current Investment Strategy text	We've changed the format of the text in the report so it specifically reflects the ownership of the plan(s) e.g. "Ed's Transact ISA is currently invested..." "Your joint Standard Life Investment Bond is..."
Attitude to Risk Library	New set of ATR profiles.	We've added the following new profiles: Synaptic ATR Profiler

Section Wizards

Section(s)	Step(s)	Update / Enhancement
Introduction	Assets & Liabilities and IHT Position	This is a new optional step where you can summarise a client's assets & liabilities, and current IHT liability. Read more...
Review of Your Existing Investments Review of Your Existing Pensions	Plan Summary	We've added a new optional field which will allow you to explicitly state the amount being invested as a top-up to an existing plan : Top up Amount £ Read more...
Review of Your Existing Investments Review of Your Existing Pensions	Recommended Action	We've added the following recommended action: top up and switch the model portfolio
Review of Your Existing Investments Review of Your Existing Pensions Review of Your Existing Retirement income Plans	Plan Comparison: Charges Comparison	This is a new optional step that will get triggered if you're recommending replacement business, and will allow you to quantity the difference in the total annual charges of the existing plan and the new plan you are recommending to replace it. Read more...
New Investment Recommendation	Trusts	We've added extra functionality to this step. You will now be prompted to provide further details regarding the recommended trust as well as the key individuals involved in it. Read more...
New Investment Recommendations	Disadvantages & Tax Implications	We've added some new advice reasons specifically related to trusts.

Report Content Manager

Section	Snippet Name	Update / Enhancement
Introduction	Vulnerable Client - No relative / friend present Vulnerable Client - Relative / friend present	These are new snippets relating to the enhanced vulnerable client options. The original Vulnerable Client snippet is no longer active.
Introduction	Assets & Liabilities	This is a new snippet where the content included within the new Assets & Liabilities and IHT Position step will be rendered.
Review of Your Existing Pension Plans	Scheme Funding Level (DB Only)	We've updated this snippet.
Investment Recommendation	Trusts Absolute DGT Discretionary DGT Absolute Gift Trust Discretionary Gift Trust Absolute Loan Trust Discretionary Loan Trust Retained Interest Trust Probate Trust	These snippets have been updated to reflect the enhancements made to the Trusts step.
Appendix - Plan Comparison	Pension Review Charges Retirement Income Review Charges Investment Review Charges	The tags within these snippets have been updated to reflect the new charges comparison fields.
Appendix - Plan Comparison	Impact of Recommended Alternative	This is a new snippet where the the impact of the annual charges of the recommended alternative plan when compared to the existing plan will be displayed.
Appendix - Technical Notes	Pensions	We've previously updated this snippet to reflect the postponement of the proposed changes to the Money Purchase Annual Allowance.

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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