In the first instance you’ll need to add the appropriate review section to the Report Builder. It’s within this section that you’ll be prompted to provide information about the existing plan / investment, confirm how the plan is currently invested i.e. its current investment strategy, and select the relevant recommended action - which in this instance could be any one of the following:
1. switch the underlying investments of (i.e. an internal fund switch);
2. switch the model portfolio of;
3. rebalance the existing portfolio of;
4. Top up and.....;
5. Partially encash and...
6. Re-register or sell the funds of and...., or
7. Bed and ISA and....; or
8. Start drawing and income and.....
You’ll then be prompted to confirm the reasons for, and any disadvantages associated with, your recommended action. With the exception of rebalancing, the selection of any one of the recommended actions will also trigger the Plan Comparison - Performance and Plan Comparison - Investment Strategy Charges steps in the review section. It's here that you'll be prompted to compare the past performance and charges of the existing and the new investment strategy you're recommending (in line with FCA best practice).
If however you do not wish to include a comparison of performance / charges in your reports then do not include any data in these steps, and no mention of a performance or cost comparison will be included in your reports.
Having completed the review section you’ll need to add the Recommended Investment Strategy section to the Report Builder. It’s within this section that you should provide details of the revised investment strategy you are recommending.
To create the recommended new investment strategy you have 2 options:
1. Clone a Current Investment Strategy you've previously created in a review section of this report.
This is particularly useful if the revised investment strategy you're recommending is broadly similar to the current investment strategy (i.e. a couple of fund may have changed) as you wont need to re-key all the data again. To clone a current investment click on the clone current investment strategy button above the investment strategy table.
You'll be directed to a new page where you'll see all of the current investment strategies that you've created in this report.
Select the current investment strategy you wish to clone and click the clone current investment strategy icon to the right of the investment strategy you wish to clone.
You'll be redirected back to the main Investment Strategy step page where you'll notice that an exact copy of this investment strategy has been created and added at the bottom of the investment strategy table with the name "Copy of......".
Having created the copy, you can then edit its name by clicking on the edit icon to the right of the investment strategy name (remember this name will be included as a sub heading within your report), and the underlying investments that make up this investment strategy in the usual way by clicking on the edit investments link.
2. Create a new investment strategy from scratch
To create a new investment strategy click create new investment strategy.
You will be directed to a new page where you’ll be prompted to give the revised investment strategy a name. This will be included as a sub-heading within your report and should help identify to which plan(s) and whom the investment strategy applies e.g Your REVISED Transact Investment Strategy.
Click save and you’ll then be prompted to add the investment(s) that make up the revised investment strategy. This may be a simple adjustment to the allocation % of the existing funds within the existing portfolio, a switch of some of the underlying funds within the existing portfolio, a switch to a different model portfolio or DFM service, or a complete change of investment style - this is all achievable with Genovo. However, whatever the scenario, it is important that you include all of the investments that make up the revised investment strategy.
Once you’ve added the investments to the revised investment strategy, click the corresponding select why investment strategy link, and you'll be directed to a new page where you’ll be prompted to confirm the advice reasons why you’ve recommended the revised investment strategy.