When to Document

In deciding whether to document a particular event for the client’s file or retain a particular document in the file, consider the relevance. Did the event, or does the document, represent a decision on the client’s portfolio? If so, the event should be documented or the document retained. If not, there may not be ga ood reason to retain the document.

You should also prepare and retain notes of any discussions, interviews, meetings, or conversations relating to the preparation, completion, or execution of the decision point documents. Try to follow a standard procedure in preparing these notes, which will ensure their consistency. You should only retain additional documents, such as investment product information (charts, graphs, and narrative descriptions), if they relate to a decision you have made on the client’s portfolio. Retaining these “decision-point documents” represents the first level of required client file documentation.