The ability to select and edit our standard Advice Options and Reasons, and add your own custom Advice Options and Reasons is one of the key bits of functionality that makes the report building process so slick in Genovo.
It’s really easy to edit any of Genovo’s standard Advice Options and Advice Reasons, and doing so will certainly help to ensure that that personalised ‘colour and detail’ that the likes of Rory Percival and the FCA are so keen to see in a suitability report is included. And hence why you’ll see a number of Advice Options and Reasons throughout Genovo that prompt you to insert further information like this one.
'The *encashment of / switch of funds within* your *INSERT* investment will give rise to a capital gain of £*INSERT*. I understand that you have £*INSERT* of your annual capital gains tax allowance available (as well as losses of £*INSERT*) to offset against this gain, and thus the net taxable gain is £*INSERT*. As a *INSERT* rate taxpayer, this net taxable gain will be taxed at 10/20%, which means you will pay £*INSERT* of capital gains tax. You will need to declare this capital gain in your annual tax return.'
When you select an Advice Option or Advice Reason in a step of a section you'll notice that a edit icon will appear to the right of the selected option. If you click on the icon you'll be taken to a new page where you can then edit the wording of that option for that individual report.
You can only make a permanent edit to an Advice Option or Advice Reason belonging to you or an organisation to which you belong (subject to the necessary permissions). You can do this via your Advice Options & Reasons Library.