Evelyn Partners as a Manufacturer

We have been working over the past 3 months to develop a new Fair Value Framework, which is embedded in our updated Product Governance Framework. This work has resulted in the following key areas of activity:​
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• Updating our governance in relation to Fair Value and Products and Services, including increasing the role of the Product Services Oversight Committee (PSOC) and recruiting an individual responsible for overseeing the governance process for each product and service.​
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• Developing a Fair Value Framework that defines how Evelyn Partners assesses fair value, taking into account comparable competitor pricing, comparable pricing within our own Group, service and value add, and cost to serve amongst other things.
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• Developing a Product Governance Framework which requires each product and service to be assessed against all Consumer Duty requirements and is built upon PROD requirements, with additional detail being included for Consumer Duty purposes. The Product Governance Framework requires a detailed assessment of the product or service against various metrics including: the intended target market; the intended distribution strategy; understanding where foreseeable harm could occur and how that is prevented; understanding how the product or service adequately deals with any potential client vulnerabilities, amongst other things.
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• Producing a new Information template for all distributors of our products and services, which will set out information included within the European MiFID Template (EMT) as well as additional fields, designed to support our distributors in understanding what target market the product or service is designed for, how we envisage sharing information if there are indicators of concern or complaints from consumers in relation to the product or service, and confirmation that the product and service has gone through the Fair Value and Product Governance assessment process. The Information Summaries will be available to you via this portal as soon as possible and certainly before the deadline of 30^th April 2023.​
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• In undertaking the Fair Value assessment for our products and services, we have determined that in relation to pricing for our products where financial advisers are acting on either an agent as client basis or reliance on others, that there is a lower cost to serve as a result of additional work the financial adviser undertakes and we are confident that this is reflected in our pricing which we will continue to monitor and assess.

This page was last updated on 20/04/2023.