We have just conducted her annual review involving the report, rebalancing of her assets in line with her risk profile, transaction of back-to-back Isas, transfer to explicit pricing of all her investments and setting up of her income withdrawal requirements for the next 12 months. Our elderly client is unsophisticated and just wants the job done.
We have just sent out her review pack which excludes initial disclosure documentation. It is an incredible 184 A4 pages. No pictures, all words. Scanned on minimum resolution it works out at 14Mb. Nothing that is not required to be sent to her has been sent. It is ridiculous. Has it really reached the stage that we need to do this? I am afraid so. At least we put sticky tabs where she needs to sign.
Surely the litmus paper test the regulators should use is one of common sense? Why is it necessary to send 184 pages to a client to do what should be fairly straightforward?
I suppose we ought to be grateful that all her investments are on one platform.
Sam Caunt
Company secretary
Kingston Independent Financial Advisers
Northamptonshire
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