Using Sage for FCA Gabriel reporting

Using Sage for FCA Gabriel reporting

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I am looking for a system on Sage that will work for the needs of a financial advisor and their Gabriel report. Also as I understand it other bodies also need them to be able to keep record of their income so that they are able to report on their income in great detail. This particular advisor deals with pensions, investments, life insurances etc.

From what I think they need is that they need to pinpoint the income down to client/provider/product/initial fee or recurring fee. I need to set up Nominal codes, possibly product codes and customers in a way which is going to give me the correct info.

Anyone has any experience doing bookkeeping for financial advisor?

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By Fidodido
06th Jul 2014 16:07

It is

We have set up a sage system for a client but it also runs along side their other system (Plumb)...

Depends on how many advisors they have.

We have codes per advisor per category for new bus, and recurring.

It is a lot of detail but makes the RMAR reporting straight forward (ish)

 

 

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By gmc1001
07th Jul 2014 09:48

Correct

I agree with Fidodido. You are correct that FCA regulated financial advisers are required to complete various reports throughout the year. Sage will help complete the P&L, balance sheet and Capital requirements. The FCA website has plenty of guidance. 

However, in my experience, Sage on it's own isn't going to cut it for the other reports. Depending on the number of advisers and transactions, you'll need a quality CRM system.

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