The FSA has given IFAonline permission to reproduce the prototype of its proposed off-the-shelf fina...
The FSA has given IFAonline permission to reproduce the prototype of its proposed off-the-shelf financial healthcheck, to give financial advisers a better indication of how the generic advice will work and what it could look like.
Designed by both mPower and the Financial Services Authority, the prototype is written as a 'flash' document and covers several basic scenarios which clients may seek advice on.
The FSA would like you, the IFA, to send us your comments on the design and content of the generic advice package, to find out whether it would cover the basic advice needs of clients.
Rather than looking at a whole range of client-need scenarios, the off-the-shelf generic advice system - first proposed by Ron Sandler in his review of the retail financial services industry - at this stage presents two example clients: one is a single mother, while the second looks at the financial status of a middle-aged self-employed man who is married with grown-up children.
Once inside the system, clients are given only a handful of options to select when deciding their aims and objectives for their finances, but the programme does look at the basic details required for a fact-find.
IFAonline was unable to present the entire document as a 'flash' download, because the file is 11MB in size, so we have instead broken it down into seven pages of flat screenshots which can be downloaded.
Click on the right-hand links to view screen pages and tell us what you think - the FSA would like to know what you, the IFA, think of their proposed generic advice package so we will send all constructive comments to the regulatory body.
IFAonline apologises for the poor quality of the images displayed, however the pages displayed are effectively screen shots of "interactive screen shots".
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m