Not just a Suitability Letter!

Nov 6, 2020 | Blog | 0 comments

Did you know our Paraplanning service encompasses so much more than just the writing of the Suitability Letter?

At Plus we like to think of ourselves as being there to give you a helping hand, and provide a comprehensive service which begins when you submit a case to us.

We are always looking at ways we can help Partners save time and effort, starting as soon as your case has been submitted, when our dedicated Chasing team can then send Letters of Authority to providers to gather information as needed.

We have all experienced the difficulties and frustrations in dealing with providers, and their sometimes obstructive manner when it comes to accepting LOAs, and it is for this reason our Head of Chasing, Jonathan Maskell, applied years of experience to come up with the formula for the ‘Perfect LOA’.

Tips for the Perfect LOA

  • Use your Practice/Company name on LOAs
  • Ensure full client information is included, such as full name, address, date of birth and NI number
  • Should contain the details and signatures of all policyholders
  • Quote both correspondence address and FCA registered address, if different
  • One LOA for each product provider

We have found if these tips are applied, the chances of the LOA being rejected is less likely, therefore saving the necessity to go back to the client for a new one, and that all important factor – time, which runs away with us all!

Once all information is received, your Paraplanner will check through and request any outstanding details directly from the provider, and carry out any calculations required.

We know communication is key, so we aim to update you at all stages of the process, while taking on the burden of the more mundane and time consuming tasks, such as information gathering.

We liaise with Business Assurance

We understand getting your case passed by Business Assurance can sometimes be a daunting task, so we liaise directly with them to gain approval, or pre-approval if necessary, on your behalf.  We pride ourselves on being actively involved at every stage of the process, from submission to approval, to make your life a little bit easier.

We are fully versed in IBusiness

Our involvement does not end with the provision of your approved Suitability Letter! Your paraplanner will create illustrations and advice sets as necessary for replacement cases.

Our experienced Administration Support team are also on hand to continue the process through to submission on iBusiness, and ensuring all documents are attached and recorded, as well as making sure any Money Laundering proformas are completed and attached to ensure all compliance procedures are met.

We know how important it is for you to provide your clients with your most important asset – your time.  We are on hand to take care of everything else!

To view the 13 steps to getting your case approved at a glance, click here.

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