Overview of Genovo Report Sections:
A comprehensive suitability report solution covering over 100 products,
as well as 5 report and 3 client types
Summary of Sections
Here’s an overview of the sections that make up the Genovo Suitability Report App. Click on the section heading to view the product types and steps / topics covered within that section.
Review Sections
Review of Your Existing Investments
Product Types
AIM Investment
Business Relief IHT Scheme
BR IHT Scheme ISA
Cash ISA
Child Trust Fund
Collective Investment
Deposit Account
Direct Equity Investment
Discretionary Managed Portfolio
Endowment Plan
Enterprise Investment Scheme
ETF Investment
Fixed Rate Bond
Friendly Society Regular Savings Plan
General Investment Account
Guaranteed Growth Bond
Guaranteed Income Bond
Help to Buy ISA
Innovative Finance ISA
Investment Trust
Junior ISA
Lifetime ISA
National Savings Premium Bond
National Savings Certificates
National Savings Guaranteed Bond
National Savings Income Bond
Offshore Investment Bond
Onshore Investment Bond
Regular Savings Plan
Seed Enterprise Investment Scheme
Stocks & Shares ISA
Structured Product
Trustee Investment Plan
Venture Capital Trust
Steps / Topics
Plan Summary
* Current Investment Strategy
Plan Charges
Recommended Action
* Retain
* Top up
* Encash (and reinvest)
* Cash-in
* Transfer
* Fund switch
* Portfolio switch
* Rebalance
* Unit class conversion
* Re-register funds
* Draw an income
* Bed & ISA
* Bed & pension
* Assign
Disadvantages & Tax Implications
Plan Comparison / Replacement Business
* Charges Comparison
* Reduction In Yield Comparison
* Performance Comparison
Review of Your Existing Pensions
Product Types
AVC
Defined Benefit Pension
Executive Pension
FSAVC
Group Personal Pension
Group Stakeholder Pension
Mastertrust Workplace Pension
Occupational Money Purchase Scheme
Personal Pension
QNUPS
QROPS
Retirement Annuity
Retirement Trust Scheme
Section 32 Buy Out
SIPP
SSAS
Stakeholder Pension
Steps / Topics
Plan Summary
* Current Investment Strategy
Money Purchase Benefits & Features
Plan Charges
Recommended Action
* Retain
* Top up (and carry forward)
* Adjust the regular contributions
* Switch (money purchase transfer)
* DB transfer (Including insistent client options)
* In-specie transfer
* Draw benefits
* Transfer and draw benefits
* Take the open market option
* Fund switch
* Portfolio switch
* Rebalance
* Unit class conversion
* Cash-in / trivial commutation
* Invest pension scheme assets
* Group scheme transfer
* Certify (ahead of AE Staging Date)
Lump Sum Payment
Disadvantages & Tax Implications
Plan Comparison / Replacement Business
* Transfer value Comparator
* Charges Comparison
* Reduction In Yield Comparison
* Performance Comparison
* Death Benefits
Review of Your Existing Retirement Income Plans
Product Types
Beneficiary Drawdown
Capped Drawdown
Fixed Term Annuity
Flexi-access Drawdown
Investment-linked annuity
Phased Capped Drawdown
Phased Flexi-access Drawdown
Retirement Trust Scheme
Steps / Topics
Plan Summary
* Current Investment Strategy
Benefits & Features
Charges
Recommended Action
* Retain and maintain withdrawals
* Take revised withdrawals
* Transfer
* Purchase annuity
* Fund switch
* Portfolio switch
* Rebalance
* Unit class conversion
* Cash-in
* Convert to flexi-access drawdown
Recommended Future Withdrawals
Disadvantages & Tax Implications
Plan Comparison / Replacement Business
* Charges Comparison
* Reduction In Yield Comparison
* Performance Comparison
* Death Benefits
Review of Your Existing Protection Plans
Product Types
Accident, Sickness & Unemployment
Decreasing Term
Executive Income Protection
Family Income Benefit
Gift Inter Vivos
Income Protection
Key Person Term Assurance
Key Person Income Protection
Level Term
Mortgage Protection Assurance
Multi-plan
Partnership Protection Plan
Relevant Life Plan
Shareholder Protection Plan
Whole of Life
Steps / Topics
Plan Summary
Benefits & Features
Recommended Action
* Retain
* Cancel & replace
Recommendation Sections
New Investment Recommendation
Product Types
AIM Investment
Business Relief IHT Scheme
BR IHT Scheme ISA
Cash ISA
Collective Investment
Deposit Account
Direct Equity Investment
Discretionary Managed Portfolio
Endowment Plan
Enterprise Investment Scheme
Fixed Rate Bond
Friendly Society Regular Savings Plan
General Investment Account
Help to Buy ISA
Inheritance Tax ISA
Innovative Finance ISA
Investment Trust
Junior ISA
Lifetime ISA
NS Income Bonds
NS Premium Bonds
NS Guaranteed Growth Bond
Offshore Investment Bond
Onshore Investment Bond
Purchased Life Annuity
Regular Savings Plan
Seed Enterprise Investment Scheme
Stocks & Shares ISA
Structured Investment Product
Trustee Investment Plan
Venture Capital Trust
Steps / Topics
Plan Summary
Why Product Type
Why Provider / Plan
Plan Charges
Trusts
* Discount Gift Trust
* Gift Trust
* Loan Trust
* Retained Interest Trust
* Probate Trust
Structured Product Plan Features
Disadvantages & Tax Implications
Other Solutions
New Pension Recommendation
(Pension Accumulation)
Product Types
Executive Pension
Nest
Personal Pension
QNUPS
QROPS
Retirement Trust Scheme
Section 32 Buy Out
SIPP
SSAS
Stakeholder Pension
MasterTrust Pension (AE option)
Group Stakeholder Pension (AE option)
Group Personal Pension (AE option)
Steps / Topics
Plan Summary (carry forward option)
Why Product Type
Why Provider / Plan
Plan Charges
Plan Features
Auto Enrolment (when relevant)
Disadvantages & Tax Implications
Other Solutions
Drawing Benefits From Your Pension Fund
(Pension Decumulation)
Product Types
Beneficiary Drawdown
Capped Drawdown
Enhanced Annuity
Fixed Term Annuity
Flexi-access Drawdown via a PPP
Flexi-access Drawdown via a SIPP
Guaranteed Drawdown
Guaranteed Lifetime Annuity
Investment-linked Annuity
Phased FAD via a PPP
Phased FAD via a SIPP
Retirement Trust Scheme
Uncrystallised Fund Pension Lump Sum
Steps / Topics
Plan Summary
Why Product Type
Why Provider / Plan
Plan Charges
Annuity Options & Benefits
Capped Drawdown Income Limits
Income Sustainability (Critical Yields)
Disadvantages & Tax Implications
Other Solutions
New Protection Recommendation
Product Types
Accident, Sickness & Unemployment
Decreasing Term
Executive Income Protection
Family Income Benefit
Gift Inter Vivos
Group Critical Illness Insurance
Group Income Protection
Group Life Insurance
Group Private Medical Insurance
Income Protection
Key Person Income Protection
Key Person Term Assurance
Level Term
Mortgage Protection Assurance
Private Medical Insurance
Partnership Protection Plan
Relevant Life Plan
Shareholder Protection Plan
Whole of Life
Steps / Topics
Plan Summary
Why Product Type
Why Provider / Plan
Why Cover
Why Term
Plan Features
Trusts
Disadvantages
Mortgage Recommendation
Product Types
Recommend multiple mortgages
Optionally include details of existing mortgage
New mortgage
Help to Buy: Equity Loan
Help to Buy: Shared Ownership
Right to Buy
Remortgage
Mortgage Product Transfer
Further Advance
Second Charge Mortgage
Residential (main residence)
Residential (second home)
Consumer buy-to-let
Professional buy-to-let
Commercial
Self build
Repayment
Interest-only
Part and part
Retirement Interest-only Mortgage
Capped Rate
Discount Rate
Fixed Rate
Flexible Rate
Offset Rate
Standard Rate
Tracker Rate
Variable Rate
Equity Release Recommendation
Lifetime Mortgage
Home Reversion Scheme
Long Term Care Recommendation
Immediate Care Annuity
Deferred Care Annuity
Other Sections
Introduction
Client Circumstances
Client Objectives
Assets & Liabilities and IHT Position
Overview of Existing Provision
Basis of Advice
Financial Knowledge and Experience
Regulatory Dates
Recommended Investment Strategy
Attitude to Risk
Capacity for Loss
Recommended Investment Strategy(s)
* Model Portfolio
* DFM
* Portfolio of Funds
* Structured Product
* Commercial Property
Risk Warnings
Auto-generated advice specific risk warnings
Important Information
Adviser Remuneration
Service Proposition and Reviews
Costs & Charges Disclosure (reviews)
Client Classification
Emergency Fund and Affordability
Non-disclosure
Supporting Information
Other Needs and Shortfalls
Next Steps
Optional Appendices
Plan Comparison
DB Pension TVC / TVAS
Summary of Attitude to Risk Profiles
Product Information
* Client-specific tax information
Glossary of Terms
Technical Information
Other Optional Inclusions
Table of Contents
Executive Summary
Client Declaration
Authority to Proceed
Auto-generated Covering Letter
Summary of Report and Client Types
The Genovo app caters for a variety of report and client types.
Report Types
Suitability Report
Designed to ensure you fulfil all of the regulator’s expectations of you when recommending a new product for a new or existing client and / or replacement business.
Review Report 2.0
Designed to allow users to provide an existing client with a holistic review of their financial affairs, as well as their existing investments as part of an annual (or more frequent) review service.
Fund Switch Report
Designed to streamline the process of recommending a change of investment strategy for a client’s existing plan(s).
Top-up / Bed & ISA Report
Designed to streamline the process of recommending a top-up or bed & ISA of a client’s existing plan(s).
Continued Suitability Report
This is shorter and more product focused than the Review Report 2.0. It has been specifically designed to fulfil the requirements of MiFID II reporting where there has been no change in the client’s investment objectives and you solely wish to confirm to the client the on-going suitability of their existing investment(s).
Client Types
Private Client
Includes vulnerable client and Power of Attorney options
Corporate Client
Includes:
* Limited company
* Partnership
* LLP
* Limited Partnership
* Charity
* Sole Trader
Trust Client
Includes:
* Bare trust
* Interest in possession trust
* Discretionary trust
* Accumulation & maintenance trust