Having selected the client(s) you wish to write your report to, you will be prompted within the Report Creation Method page to confirm the method you wish to use to create the initial framework for your report.
There are 3 options available:
- From scratch;
- Using a pre-configured advice scenario; or
- From an existing report template.
This is the standard ‘vanilla’ option. On selecting this option you’ll be directed to a new page where you’ll be prompted to give the report a name, and select the report type. Genovo has a number of different report types including:
- Suitability report
- Review Report 2.0
- Fund Switch
- Top Up / Bed & ISA
- Continued SR
Each report type has been designed to cater for a slightly different advice scenario, and the report type selected will determine:
- Which sections are available in the Report Builder;
- Which steps show in the Wizard Sections included within the Report Builder;
- Which recommended actions show in the recommended action step of the review sections; and
- Which snippets (i.e. content) get included in the resultant report.
You can also provide a report reference and select the currency you wish to use.
On clicking save you’ll be taken through to the Report Builder where you’ll notice that the standard core sections for that report type have been auto inserted.
However, you will still need to add other sections from the ‘Available Sections’ drop down to reflect the advice you're providing. For example, if you were recommending a pension switch you would at this stage need to add the:
- Review of Your Existing Pensions;
- New Pension Recommendation; and
- Recommended Investment Strategy sections.
Having added all of the sections required, you will then need to step through each wizard section in turn and add all of the data required to complete it.
To see which sections you need to add into the Report Builder for a variety of advice scenarios click here. However, figuring out which sections you need to add for different advice scenarios is really pretty straight forward and logical. Provided you remember the following general premise you’ll never go too far wrong.
- Recommendations in respect to existing plans are dealt with in review sections;
- New plan recommendations are dealt with in recommendation sections; and
- The recommendation of a new investment strategy for a new plan and / or a revised investment strategy for an existing plan is dealt with in the Recommended Investment Strategy section.
Using a pre-configured advice scenario
On selecting this option you’re once again prompted to give the report a name, insert a report reference and select the currency. However, instead of selecting a Report Type you’re prompted to select an advice scenario.
A number of common place advice scenarios are included for your convenience. By selecting a scenario, the most appropriate Report Type will be automatically selected for you, and any additional sections that you’ll need to complete, on top of the standard core sections, will also be automatically inserted into the Report Builder for you.
As an example, let's say I selected the option of 'switch money purchase pension' as my advice scenario. This scenario is clearly replacement business and as a result the Suitability Report type is automatically selected and the Review of Your Existing Pension Plans, New Pension Recommendation and Recommended Investment Strategy sections will be automatically inserted into the Report Builder in addition to the standard core sections that are inserted for a suitability report.
However, please bear in mind you will still need to step through each wizard section in turn and add all the data required to complete it, just as you would if you were building the report 'from scratch'.
From an existing report template
This option uses a pre-configured Report Builder with partially completed sections already inserted as the starting point for creating your new report, and can therefore prove to be a very quick and effective way to build a report.
On selecting this option, once again you’re prompted to give the report a name, insert a report reference and select the currency. However, this time you’re prompted to select a pre-existing report template from your Report Template Library as the basis for creating the initial framework for your report.
When you select a template, all of the additional sections that you will require will be automatically inserted into the Report Builder just as they are with a pre-configured advice scenario. However, unlike the option of a pre-configured advice scenario, you can also have any of the sections you don’t want to include, hidden by default.
However, what really differentiates using a template from the other two report creation methods is that the steps of the various wizard sections can be preloaded with data making it even quicker to complete a report, albeit you will still need to step through all of the wizard sections in turn and edit certain fields to ensure the report reflects each client’s individual circumstances and objectives.
Finally it's worth remembering that Genovo is a multi product, multi section modular report builder that allows you to deal with multiple advice scenarios and recommendations in one report, and therefore irrespective of the method you select to create your report, you can always add or remove sections from the Report Builder as required.