Guide · Advice process
What is a financial adviser suitability report?
The report should help you understand what is being recommended, why it fits your circumstances and the important costs or risks involved.
What is the purpose of a suitability report?
For regulated advice where a suitability report is required, the document records the personal recommendation and why the adviser considers it suitable based on the information collected.
What should you look for?
Your objectivesDoes the report describe what you actually told the adviser you want to achieve?
RecommendationIs the proposed action clear rather than buried in generic wording?
ReasonsCan you understand why the recommendation fits your position?
Costs and risksAre material charges, disadvantages and risks visible enough to understand?
What if the report does not match what you discussed?
Raise the issue before proceeding. A suitability report is not useful if your circumstances or objectives are recorded incorrectly.
Keep the report
It can be an important record of why a financial product, investment or planning action was recommended and may be useful in future reviews or if you later change adviser.
Sources & further reading