A. Communicating Flashcards
What should communication be?
Fair, Clear and not misleading
Why is it important for communication to be fair, clear and not misleading?
Client can understand how and why the recommendations meet needs and objectives and the costs of services.
Most FCA firms have to give clients what information?
Information about services and about costs
After discussing goals and recommending a product what will the advisers give to the client.
Written information, allows client to read documents to make sure they are satisfied that it is suitable for them.
What information is presented to the client when considering a mortgage?
European Standardised Information Sheet (ESIS) for comparison of features and costs.
What information is presented to the client when considering insurance?
What is does or doesn’t cover, limits or restrictions, other important features.
What information is presented to the client when considering investments?
Key information Document/Key Investor Document. Should cover aim, clients commitment, how it’s invested, main risks, tax position, fees and charges.
