Confidential Financial review

Question 1

key points when introducting the CFR

Answer 1

• Chance to better understand their current financial position and potentially identify areas that may need some support to achieve aspirations detailed in life plan.
• Remind of confidentiality
• Explain the importance of full disclosure, and its effect on ability to give suitable advice
• Special Category Data Form

Question 2

Key points when collecting the information

Answer 2

• Mindful of vulnerability
• Skillset: Use open questions where appropriate to aid needs analysis:

-Why did you take out this plan?

-How did that make you feel? - allows for skillful DIRIE conversation, “you said that… what would you feel if…

-Do you think you are under/over protected?

• Gauge investment experience
  -Checking Employee pension scheme fund value/ changing portfolio
  -Past investments/thoughts on this