Suitability reports have grown steadily longer, and few advisers believe the extra length is read by clients. At the same time, thin files carry obvious risk if a recommendation is later questioned.
This matters because the point of the record is to demonstrate that advice was suitable and understood. Length is not the same as clarity, and a document written mainly for a future reviewer can fail the client it was written for.
Discussion questions:
- How long are your suitability reports, and how have you tried to shorten them?
- What have you removed without weakening the evidence trail?
- Where does the client's understanding get lost in the documentation?
Firms should take their own compliance view; nothing here is regulatory guidance.