New FCA Guidelines Impact

We've updated our processes in several ways:

• Created a new section in our fact-find specifically for the enhanced affordability assessment
• Implemented a checklist system to ensure all new requirements are met
• Updated our client documentation to include clearer explanations of the changes
• Using Etty's compliance tools to automate much of the process

Happy to share our checklist template if anyone's interested.

Adding to Mark's excellent points, we've also found success with:

• Recording client meetings (with permission) to ensure we capture all affordability discussions
• Creating a simplified one-page summary of the changes for clients
• Weekly team meetings to discuss any challenges with the new requirements

The key has been transparency with clients about why we need more detailed information than before.

Quick question for Mark - could you share more details about the checklist system you've implemented? We're struggling with ensuring consistency across our team of 6 advisers.

Also, has anyone had any pushback from clients about the additional documentation required? How are you handling those conversations?

@David - Regarding client pushback, we've found success by:

• Explaining the changes during the initial call/meeting
• Emphasizing that this is for their protection
• Providing a clear timeline of what's needed and when
• Using Etty's client portal to make document submission easier

Most clients appreciate the thoroughness once they understand the reasoning behind it.