The New SR report for pension switching, is a triumph for a government seeking through legislation mandatory disclosures, springing out of Mifid, FCA papers and pension legislation. The problem is that the more you give the client to read, the less they understand. For two decades now people have been seeking a way around this conundrum without success, as bulk reviews, complaints, FCA DB recommendations for SR reports drive more, not less, disclosure, and more complexity.
BAT are working to re-design this and other SR reports into quick summaries and bulk appendices. Not an easy task, mindful that our audience includes not just the addressee, but also claims companies, legal advisers, FCA, FOS and disgruntled heirs. And finally you all need to be persuaded to change your own template ways of working. Hopefully this is an advance that will be welcome to you.