v2 Genovo Recommended Actions Matrix

	A	B	C	D	E	F	G	I	J	K	M	N	O	P	R	S
1	Genovo Recommended Actions Matrix
2
3	The matrix below provides a summary of all of the recommended actions that are available for selection in the Recommended Action step of the various review sections and what they are typically used for.
4	It also shows in which report types you'll find the recommended action, and which (if any) of the Plan Comparison steps will be triggered when that recommended action is selected.
5
6	Review of Existing Pension Plans Section
7
8			Report Types						Conditional Steps		Plan Comparison Steps				DB Pension Steps
9	Recommended Action	Typically Used For	Suitability	Review 2.0	Continued SR	Fund Switch	Top-up / Bed & ISA	Recommended Withdrawal	Recommended Contribution	Revised Plan Charges	Plan Charges	Reduction in Yield	Performance	Death Benefits	Death Benefit Considerations	TVC
10	Retain	Recommending the existing plan is retained and no changes are to be made
11	Adjust the regular contribution of	Recommending a new regular e'ee and / or e'er contribution amount
12	Top up	Recommending the top-up of an existing plan
13	Switch the underlying investments of	Recommending the switch of the underlying investments (e.g. funds) that an existing plan is invested in
14	Switch the model portfolio of	Recommending the switch from one model portfolio to another within the same plan
15	Rebalance the existing portfolio of	Recommending the rebalance of the underlying funds of an existing plan
16	Partially disinvest from	For use when recommending the partial encashment of existing pension scheme assets held within a SIPP or SSAS to pay fees / member withdrawals etc
17	Convert the unit class of the funds held within	Recommending a share class conversion
18	Take a tax-free lump sum directly from	Recommending that a tax-free lump sum (but no income) is taken directly from an uncrystallised pension plan
19	Take a taxable lump sum directly from	Recommending that a taxable lump (but no income) is taken via UFPLS directly from an uncrystallised pension plan
20	Cash-in	Recommending that the existing plan is cashed-in (includes small pots and trivial commutation)
21	Switch	Recommending the switch (transfer) of a money purchase pension plan to another money purchase plan (e.g. PPP to PPP, PPP to SIPP etc)
22	Partially switch	Recommending the partial switch (transfer) of a money purchase pension plan to another money purchase plan (e.g. PPP to PPP, PPP to SIPP etc)
23	Transfer in-specie the investments of	Recommending the in-specie transfer of a plan's existing assets to another plan
24	Consolidate the plans being switched within	Recommending the existing plan is retained and the proceeds from the client's other plan(s) that are being switched are invested within it
25	Transact a bulk transfer of	Recommending the bulk transfer of a group pension scheme
26	Take benefits directly from	Recommending a pension plan is crystallised and an income (and a lump sum) is drawn directly from the existing plan via an annuity, drawdown or UFPLS
27	Take the open market option and vest	Recommending benefits are taken via an open market option annuity
28	Take benefits having switched	Recommending that an income (and / or lump sum) is taken via drawdown or UFPLS having transferred the pension fund to another plan
29	Retain (DB pension only)	Recommending existing DB pension is retained
30	Take benefits directly from (DB pension only)	Recommending benefits are taken from an existing DB pension
31	Transfer (DB pension only)	Actively recommending the transfer of a DB pension to a money purchase pension plan but no benefits are being taken immediately.
32	Partially transfer (DB pension only)	Actively recommending the partial transfer of a DB pension to a money purchase pension plan but no benefits are being taken immediately.
33	Take benefits having transferred (DB pension only)	Actively recommending the transfer of a DB pension to a money purchase pension plan so benefits can be taken immediately (via drawdown for example)
34	Remain in the scheme but you insisted on transferring (DB pension only)	For use with INSISTENT CLIENTS who want to transfer their DB pension to a money purchase pension plan but no immediate tax free cash or income is required.
35	Remain in the scheme but you insisted on taking benefits having transferred (DB pension only)	For use with INSISTENT CLIENTS who want to transfer their DB pension to a money purchase pension plan so benefits can be taken immediately (via drawdown for example).
36	Proceed to full advice from abridged advice for (DB pension only)	Recommending that a client proceeds to 'full advice' following an abridged advice process
37	Retain following abridged advice (DB pension only)	Recommending that a client retains their DB pension following an abridged advice process
38	Invest monies held in the pension scheme bank account	For use when investing the cash held within the pension scheme bank account of a SIPP or SSAS
39	Encash and reinvest the pension scheme assets of	For use when recommending the encashment of existing pension scheme assets held within a SIPP or SSAS
40	Purchase a commercial property with	For use when recommending the client uses their existing SIPP or SSAS to purchase a commercial property
41	Take a loan from	For use when recommending that the company takes a loan from their existing SSAS
42	Take beneficiary drawdown from	Recommending a beneficiary draws down directly from an inherited uncrystallised pension plan
43	Adjust the adviser charge of	Recommending a change to the ongoing adviser charge of an existing plan
44	Change the pension scheme administrator of	For use when recommending that the role of the scheme administrator of an existing SSAS is switched to another provider
45	Invest the pension share within	Recommending the existing plan is used to receive the pension fund of a pension sharing order
46
47	Review of Existing Investments Section
48
49			Report Types						Conditional Steps		Plan Comparison Steps
50	Recommended Action	Typically Used For	Suitability	Review 2.0	Continued SR	Fund Switch	Top-up / Bed & ISA	Recommended Withdrawal	Recommended Contribution	Revised Plan Charges	Plan Charges	Reduction in Yield	Performance
51	Retain	Recommending the existing plan is retained and no changes are to be made
52	Maintain the current income from	Recommending the current level of income continues to be drawn from the existing plan
53	Take a revised income from	Recommending a revised income is withdrawn from an existing plan
54	Start drawing an income from	Recommending an income starts to be taken from an existing plan
55	Adjust the regular contribution of	Recommending a change to the regular contribution being made to an existing plan
56	Top up	Recommending the top-up of an existing plan
57	Switch the underlying investments of	Recommending the switch of the underlying investments (e.g. funds) that an existing plan is invested in
58	Switch the model portfolio of	Recommending the switch from one model portfolio to another within the same plan
59	Rebalance the existing portfolio of	Recommending the rebalance of the underlying funds of an existing plan
60	Convert the unit class of the funds held within	Recommending a share class conversion
61	Transfer	Recommending the transfer of a stocks & shares ISA.
62	Transfer in-specie the investments of	Recommending the in-specie transfer of a plan's existing assets to another plan
63	Encash and reinvest the proceeds of	Recommending the encashment of an existing investment and the reinvestment in a new plan
64	Partially encash and reinvest the proceeds of	Recommending the partial encashment of an existing investment and the reinvestment in a new plan
65	Encash	Recommending the encashment of an existing investment to raise funds (e.g. to buy a house etc)
66	Partially encash	Recommending the partial encashment of an existing investment to raise funds
67	Reinvest the maturity proceeds of	Recommending that the maturity proceeds of an existing investment are reinvested in a new or existing plan
68	Consolidate the plans being transferred within	Recommending the existing ISA is retained and the client's other plan(s) being transferred are transferred into it
69	Consolidate the plans being encashed within	Recommending the existing plan is retained and the proceeds from the client's other plan(s) that are being encashed are invested into it
70	Bed and ISA	Recommending the bed and ISA of an existing collective, GIA etc
71	Bed and pension	Recommending the encashment of an existing investment and then a reinvest of the proceeds in a pension with the same provider
72	Adjust the adviser charge of	Recommending a change to the ongoing adviser charge of an existing plan
73	Assign	Recommending the assignment of an existing investment bond to different owner(s)
74	Withdraw cash from	Recommending monies are withdrawn from a deposit type investment
75	Transfer	Recommending the transfer of a Cash ISA.
76
77	Review of Existing Retirement Income Plans Section
78
79			Report Types						Conditional Steps		Plan Comparison Steps
80	Recommended Action	Typically Used For	Suitability	Review 2.0	Continued SR	Fund Switch	Top-up / Bed & ISA	Recommended Withdrawal	Recommended Contribution	Revised Plan Charges	Plan Charges	Reduction in Yield	Performance	Death Benefits
81	Retain	Recommending the existing plan is retained and no changes are to be made
82	Maintain the current withdrawals from	Recommending the current level of income continues to be taken from a fully or partly crystallised pension plan via drawdown for example
83	Take a revised income from	Recommending a revised income is taken from a fully or partly crystallised pension plan via drawdown for example
84	Start drawing an income from	Recommending an income is taken for the first time from a fully or partly crystallised pension plan via drawdown for example
85	Take a tax-free lump sum from	Recommending that a (further) tax free lump sum (but no income) is taken directly from a partly crystallised pension plan
86	Take a taxable lump sum from	Recommending that a (further) taxable lump (but no income) is taken via UFPLS directly from a partly crystallised pension plan
87	Adjust the regular contribution of	Recommending a change to the regular contribution being made to an existing plan
88	Top up	Recommending the top-up of an existing plan
89	Switch the underlying investments of	Recommending the switch of the underlying investments (e.g. funds) that an existing plan is invested in
90	Switch the model portfolio of	Recommending the switch from one model portfolio to another within the same plan
91	Rebalance the existing portfolio of	Recommending the rebalance of the underlying funds of an existing plan
92	Partially disinvest from	For use when recommending the partial encashment of existing pension scheme assets held within a SIPP or SSAS to pay fees / member withdrawals etc
93	Convert the unit class of the funds held within	Recommending a share class conversion
94	Switch	Recommending the transfer of an existing drawdown plan to another drawdown plan with a different provider
95	Transfer in-specie the investments of	Recommending the in-specie transfer of a plan's existing assets to another plan
96	Consolidate the plans being switched within	Recommending the existing plan is retained and the proceeds from the client's other plan(s) that are being switched are invested within it
97	Purchase an annuity with	Recommending the pension fund is used to purchase an annuity
98	Reinvest the maturity proceeds of	Recommending that the maturity proceeds of an existing plan are reinvested
99	Convert to flexi-access drawdown	Recommending an existing capped drawdown plan is converted to a flexi-access drawdown plan with the same provider
100	Convert to beneficiary drawdown	Recommending a beneficiary draws down directly from an inherited crystallised or partly crystallised pension plan that's already in drawdown with the same provider