Paraplanners' Assembly (Paraplanners' Assembly)

Tax year end. ALREADY?

Yes. But it wasn’t just any old hour’s worth of tax chat (attractive though we know that would be). Because this is about getting in the RIGHT MINDSET for 2023’s tax year end deadline. 

Coach and facilitator, Becca Timmins, is joined by Kez Condy and Jo Parkes from Navigatus, Zoe Hitchcock from Crowe UK and Emery Little’s Satu Flynn to discuss how they are getting in the zone for this year’s tax deadline by answering three questions: (1) What went well at tax year end last year? (2) What was a challenge? and (3) What will you take with you into this tax year end?

By sharing their insights and experiences from last year – combined with audience contributions in the chat – there are plenty of ideas, tips and techniques that could prove invaluable in countdown to the tax year deadline.

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Big reductions in allowances for capital gains tax and dividends announced in last November’s autumn statement invite the question: should we be re-thinking how we use investment bonds and GIAs?

In this lunchtime Assembly online, we were joined by Les Cameron from M&G Wealth to dig into the topic and consider the consequences for paraplanning of the changes.

Important: Because Les is talking about the contents of a presentation, it's definitely worth downloading his slidedeck (opens in PowerPoint online) and following along if you can.

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With examination season looming, we took a timely tour of the tips and techniques that could give you the edge in your exams.

Host, Richard Allum, was joined by two guests:

Natalie Dawes is an Academy Support Adviser with Bespoke Training Solutions (or BTS). Natalie provides ‘side-by-side’ learning support that can be adapted to meet the different needs of candidates who are preparing for professional exams.

Not only is Alan Gow one of the UK’s most experienced outsourced paraplanners but, as a Chartered Financial Planner, Fellow of the Personal Finance Society and a CISI Accredited Paraplanner, the Argonaut Paraplanning founder knows a thing or two about about qualifications and how to achieve them.

During the one-hour lunchtime Assembly, Natalie and Alan shared insights into revision tips and exam techniques that have worked for them or the candidates they work with.

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As paraplanners enter their busiest time of year, we invited Transact's head of technical services, Brian Radbone, to share his top tips as we hurtle towards the 5 April tax year end deadline. 

In just 13 minutes podcast host, Richard Allum, and Brian cram in top tips that cover pensions, income tax, ISAs, CGT, bonds and IHT.

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Les Cameron of M&G Wealth joined us to explore what the Budget in March 2023 meant for paraplanners, financial planners and clients.

Over the course of a lunch hour, as well as fielding questions from paraplanners in the chat, Les talked through the key financial planning questions of the Chancellor of the Exchequer's statement.

In particular, Les tackled the changes to lifetime and and annual allowances and their consequences. 

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New consumer duty rules come into force on 31 July (for new products and services, that is).

Yet as recently as last month, Citywire reported that 59% of advisers have not started preparing for the July deadline – that’s according to a survey of 1,000 advice firms commissioned by Aviva.

It got us wondering: what’s going on in advice practices across the UK?

Are firms comfortable with the deadline because they’re confident they’ve got all the consumer duty bases covered? 

Or could they be underestimating the effect the consumer duty rules will have on how we all communicate with clients?

What’s happening where you work? And with client communications at the heart of the Duty – and the role of paraplanners – should we be worried?

To explore what’s going on, we invited Aegon UK’s public affairs director, Steven Cameron, and Gemma Knight, a director of Compliance and Training Solutions (CATS), to join us online for a lunch-hour Assembly.

Is your firm ready for the 31 July deadline? 

Listen to our latest podcast episode to find out!

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Years of stability in the retirement income planning world changed abruptly on 23 September 2022 when former Chancellor of the Exchequer, Kwasi Kwarteng, presented his ‘mini budget’.

Ever since, uncertainty about rising interest rates, anxieties about inflation, and even worries over the stability of pension funds themselves, have led paraplanners to rethink how clients can achieve the outcome they want from their financial plan.

One consequence of all this? Secure lifetime income has become a thing. And annuities are back in fashion.

In the first of a three-part series, Richard was joined by Karl Steadman from Just to explore what’s changed in the world of retirement income planning and what it means to paraplanners.

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This is the second in our series of It’s all kicking off in the world of retirement income planning Assemblies exploring the new practicalities of retirement income planning – a series made possible with the support of our friends at Just.

In our first Assembly, we asked why it’s all kicking off in the world of retirement income and considered events that have prompted paraplanners to consider an expanding range of strategies to help clients achieve their retirement income goals.

In this Assembly we’ll be getting real by digging into the paraplanning practicalities. During the lunch hour session we expect to cover:  

• what the research says
• using forecasting software to consider annuities and secure lifetime income
• looking at modelling examples
• what it all means for assets under management and client risk profiles
• how it works on a platform

To help, were joined by guests Jean-Paul Grenade and Karl Steadman from Just. 

CPD and resources

You can find links to the slides that JP and Karl refer to during the event on the event page where you'll also find a link to a survey. If you complete the survey, a CPD record of your attendance will be emailed to you automatically.

Book the final session in the series now

In the third and final part of the series – you can book your spot here now – we’ll be gathering online at 1pm on 8 June 2023 to explore three case studies. Each case will allow us to consider the suitability of different strategies to meet the ambitions for retirement income of each client. Naturally, we’ll be considering how the Consumer Duty affects the choices available too. 

Listen to part one

If you missed the first Assembly in the series, pop over to the event page – visit Why is it all kicking off in the world of retirement income planning? – where you’ll find a video replay and podcast episode link plus links mentioned during the event.

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In the third and final Assembly in our 'It’s all kicking off in the world of retirement income planning' series we're joined by Karl Steadman from Just to explore three client case studies.

Each case allows us to consider the suitability of different strategies to meet the ambitions for retirement income of each client. In addition, we explored the effect of the Consumer Duty on client choices.

Karl refers to this slidedeck during his presentation (opens in a PDF). You'll probably find it helpful to try and follow along.

At the event page you'll find a video replay and lots of links mentioned during the event - including the CPD survey link.

Important: It's only fair to point out that the live recording ended pretty abruptly at precisely 41 mins and 52 secs. We hope you like the way we seamlessly deal with that in the edit.

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Paraplanners' Assembly host, Richard Allum, is joined guest expert, Barrie Dawson from M&G Wealth, to ask: 'What happens to tax wrappers when a client dies?'

It’s a big deal because, for surviving family and friends, knowing there's a posthumous financial plan of action can help avoid a wealth of distress, doubt and anxiety.

What’s more, getting it right has the potential to be one of those 'moments of truth' for clients – the kind of support they never forget and are grateful for years later.

So what can paraplanners do to prepare?

For a start, you can listen to this lunch hour Assembly where we cover:

☑️ how tax works;

☑️ how money is distributed;

☑️ who needs to do what to get the money; and

☑️ where it needs to go.

We consider a whole variety of taxes – including income tax, inheritance tax and capital gains tax – as well as administrative issues such as probate. Plus we'll point out essential planning tips for paraplanners as we go too.

Slides and CPD

M&G Wealth have created a page on their website where you can download Barrie’s slides AND complete a brief test to obtain your CPD certificate for taking part.

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We recently teamed up with friend of the Assembly, Steve Sayer of Utmost Wealth International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.

In the first part of the series, Steve takes a look back at the last two budgets - the 'mini-budget' in September 2022 and spring Budget in March 2023 - to demonstrate the cumulative effect of 'stealth' tax rises and explore strategies to alleviate their effects.

During the hour-long talk he deals with changes in income tax, capital gains tax, corporation tax, and inheritance tax.

To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.

CPD, downloads and links

Slides: Post-April 2023 personal tax changes (opens a PDF in a new browser tab)

CPD certificate »

Top slicing relief: planning strategies – online Assembly, 16 November 2022 »

Talking top slicing relief – online Assembly, 29 June 2022 »

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In the first part of the series, Steve looked back at the last two budgets - the 'mini-budget' in September 2022 and spring Budget in March 2023 - to demonstrate the cumulative effect of 'stealth' tax rises and explore strategies to alleviate their effects.

In this episode, Steve explores the potential for loan trusts to feature in inheritance tax planning – especially in the wake of the 'stealth taxes' announced by Jeremy Hunt earlier this year.

Perhaps typecast as a bit of a 'slow burn' option in the past, Steve reveals the surprising flexibility that loan trusts offer clients. For instance, offering the ability to begin inheritance tax planning but not cutting off access to cash.

While the inheritance tax advantages of a loan trust may not be so significant initially, the growth of the funds outside the estate over time can accumulate to a substantial amount, providing future planning flexibility.

If you're handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.

We've 'chapterised' the video above so you can navigate the video however you'd like – and provided the slide number/s too for easy reference.

To download a PDF version of Steve's slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.

CPD, downloads and links

Slides: Planning with loan trusts (opens a PDF in a new browser tab)

CPD certificate »

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We recently teamed up with friend of the Assembly, Steve Sayer of Utmost International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms' clients.

In the first part of the series, Steve looked back at the last two budgets - the 'mini-budget' in September 2022 and April 2023 - to demonstrate the cumulative effect of 'stealth' tax rises and explore strategies to alleviate their effects.

In the second episode, he explored the flexibility of loan trusts and their potential for inheritance tax planning – especially in the wake of the freezes in inheritance tax allowances for nil rate and residence nil rate bands announced by Jeremy Hunt in April 2023.

In the final part of the trilogy, Steve considers discounted gift trusts as an alternative to loan trusts for inheritance tax planning.

In sharp contrast to loan trusts, the decision to execute a gift trust brings no flexibility but their appeal is the immediate inheritance tax advantages.

Whether they're the right vehicle will depend on a number of planning considerations such as the ages of the applicants and the types of gift trust.

During his talk, Steve looks at the difference between absolute trusts and discretionary trusts, touches on issues like the consequences of pre-2006 flexible power of appointment arrangements, plus making gifts and insurance policies.

In the accompanying slidedeck (which you can download below), you'll find two case studies: the first explores a couple choosing between a joint settlor or single settlor discounted gift trust. The second involves a client who wants to invest in a discounted gift trust but wants to be able to secure a fixed level of withdrawals. By combining discretionary and absolute trusts they're able to achieve their objective without exceeding their nil rate band.

Steve's talk is ideal if you're handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.

We've 'chapterised' the video above so you can navigate the video however you'd like – and provided the slide number/s too for easy reference.

To download a PDF version of Steve's slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording. 

CPD, downloads and links

Slides: Discounted gift trusts (opens a PDF in a new browser tab)

CPD certificate »

Utmost International

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We all occupy our place in a neurodiverse world.

But if the way we think is plotted on a spectrum, most of us would be considered 'neurotypical'.

Yet plenty of us - at least 1 in 10 in the UK - function, learn and process information differently from the neurotypical.

So we may be neurodifferent but, despite thinking differently, we're expected to adapt and succeed in a world that's geared towards neurotypical people.

Inspired by a post and thread at The Big Tent, we invited consultant and founding director of About Consulting Group, Jon Dunckley to join Richard to talk about neurodifference and paraplanning.

In a really absorbing, practical and illuminating hour, Jon - who is autistic - offers insights and ideas that will be invaluable to you if you're neurodifferent, or work with, live with or know people who are.

A few of links mentioned by Jon during the episode

British Dyslexia Association: Dyslexia-friendly style guide

The Neurodiverse Workplace by Victoria Honeybourne

Think Human Business Writing course

BTS podcast: Neurodiversity and studying for regulated exams

PFS Power: Working with vulnerable clients

Cornell note-taking system (YouTube video)

Online Assembly: Design principles for reports

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There are already plenty of reasons for business-owning clients to consider investing surplus profit rather than, for instance, taking it as income. And April’s 6p rise in corporation tax could add impetus to business owners’ interest in weighing up their options.

But with so much uncertainty around these days what strategies should you be considering for clients with businesses?

Les Cameron of M&G Wealth, joined host Richard Allum for an online Assembly to explore investment options, tax treatments and suitability.

Useful links

Les walked through a set of sides during the Assembly so it's definitely going to be worth your while grabbing a copy for yourself.

That's why M&G Wealth have created a page on their website where you can not only download Les’s slides AND complete a brief test to obtain your CPD certificate for taking part. To visit, just tap this link:

https://bit.ly/3QYlu1B

You can also find the page for this Assembly at our website which includes related links to previous Assemblies at which Les has appeared. Here's the event page:

https://paraplannersassembly.co.uk/event/investing-for-businesses-these-days/

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In the last of his quartet of bite-sized Assemblies on investing, Timeline investment strategist, Laurentius van den Worm, tackles the topic of market forecasting.

Given our recent experience with high inflation, higher interest rates not to mention pandemics, wars and conflict, is there much point attempting to forecast the future?

Or put another way: what's the outlook for forecasting (geddit? 😉)

Tune in and you'll soon discover that Laurentius thinks three things are worth remembering:

1. active managers rarely outperform the market long-term. Investors should get low-cost market exposure rather than try to beat it;
2. missing just a few of the stock market's best days over decades can seriously affect overall returns. Timing the market is extremely difficult, so investors should stay invested; and
3. equities have created significant wealth over the past century and remain an essential feature of long-term financial plans.

What's more fixed income can help reduce volatility (and traditional asset allocation still makes sense despite recent volatility).

The takeaway? Long-term historic trends remain a pretty sound basis for forecasts despite recent volatility. And equities tend to reward patient investors with long time horizons.

Rather than market timing, appropriate asset allocation and risk management enable investors to endure short-term swings.

But don't take our word for it. Listen yourself now.

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In our latest episode, we’re exploring what clients need to know if they want to invest in property as part of their pension.

To help us, host Richard Allum was joined by experts Rachel Geary and Murray Smith from Barnett Waddingham for a lunch-hour Assembly.

Together, they covered the technical, regulatory and legal issues that influence pensions and property serving up practical and valuable insights and ideas along the way.

Among the topics covered were:

• Why buy a commercial property with a pension?
• SIPP vs SSAS. What, why and when?
• Rules about property in a pension
• Technical and legal things to know about investing in commercial property with a pension
• FAQs. Which things crop up time and again?
• What can go wrong – and how to avoid it happening

For more details, visit the event page:

Property, pensions and paraplanning

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Timeline's investment strategist, Laurentius van den Worm, serves up a fast-paced fact-filled bite-sized Assembly exploring the elements of modern portfolio theory.

After a whistle-stop summary of the origins of modern portfolio theory, Laurentius introduces the five key principles driving the approach: risk and return trade-off, diversification, risk assessment and the correlation of assets.

And if you're wondering 'But that's just four principles!?', you'd be right. That's because Laurentius goes pretty deep into the fifth principle: the idea of the 'efficient frontier'.

First he looks at the efficient frontier in theory before seeing how it really plays out in practice (using Timeline's technology to illustrate it, of course).

Along the way, he considers criticisms of modern portfolio theory too.

Altogether, it's a great primer that's packed full of insights and information that will appeal to paraplanners at every stage in their career.

Download Laurentius's slides

Throughout his talk, Laurentius refers to a slidedeck. Follow the link below to download the slides as a PDF:

Slidedeck: Modern Portfolio Theory

About Laurentius

Laurentius van den Worm CFA joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.

Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.

Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.

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Timeline’s Laurentius van den Worm returns for the second in his series of four fast-paced fact-filled bite-sized Assemblies.

Last week it was modern portfolio theory (you can watch or listen to after this). This week, investment strategist Laurentius takes on the topic of asset allocation.

Tune in and in less than 20 minutes you’ll have explored what asset allocation is and why it’s important. You’ll consider the characteristics of assets classes and what different types are.

What’s more, you’ll have dug into the question of whether asset class really are helpful if you want to diversify risk. Plus you’ll discover what the nature of the risks are.

Next, Laurentius tackles property and asks why real estate is important before setting out the potential routes to gain exposure to property in a portfolio.

Finally, he takes a look at the performance of real estate investment trusts vs global equities – including a brief look at the correlation between global equities and real estate and what it tells us about the nature of diversification benefits.

Download Laurentius’s slides

Throughout his talk, Laurentius refers to a slidedeck. Follow the link below to download the slides as a PDF.

Slidedeck: Asset allocation and diversification (opens a PDF)

About Laurentius

Laurentius van den Worm CFA joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.

Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.

Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.

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Patrick Ingram from Parmenion joins host, Richard Allum, for a lunch-hour Assembly exploring the issue of capacity for loss.

Even though the combination of a client’s capacity for loss and their attitude to risk are significant factors when you’re working on a case, Patrick shows why both ideas are so different – and what that means for clients.

He digs into ideas like ‘client balance sheet’ and ‘wealth ratios’ and explore how they offer both strategic and practical ways to settle on an investment approach that fits their financial position.

And then he explores the idea of a ‘safety margin’. What is it? And how does the idea help insulate clients from financial risks while still allowing them the flexibility to adapt their strategy through life’s ups and downs? 

When capacity for loss is such a significant feature of the day job, this a great chance to catch up with the latest thinking.

Useful links

Visit the event page at the Paraplanners' Assembly website, scroll down, and you'll see a 'Useful links' section with a link to download the slidedeck that Patrick refers to during the episode.

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What can you do to treat a case of fluctuating emoluments?

Join Barnett Waddingham’s James Jones-Tinsley as he takes us on a third exploration of old pensions jargon for paraplanners – that’s what.

James joins host Richard Allum to shed light on acronyms and concepts that paraplanners may encounter in the wild including FURBS, UURBS, cash balance schemes, the difference between final salary and career average, CARE, fluctuating emoluments and straddling PIPs.

Didn’t catch the previous two episodes in James’s popular plain English trilogy? Visit the post about this episode at our website to catch them there.

In part one, which was recorded in May 2022, James covered s226, s32, AVC, FSAVC, EPP, GMP, with profits annuities, GAR and SSAS.

And in part two, he lifted the lid on UFPLS, NMPA, master trusts v deeds, SERPS, S2P, QROPS, ROPS and TIEA. This episode was recorded in January 2023.

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The team from Transact recently joined us to record a series of fantastic 5-10 minute audio treats. We hope you enjoy them.

Have you ever wondered what goes on behind the scenes when you place a trade on a platform? In this bite-sized Assembly Transact's head of distribution, Glen Sweet, does just that.

In just FIVE minutes, Glen tells host, Richard Allum, all about trading points, settlement periods (including the difference between settlement of equities and funds), reconciliations, execution prices, trading windows...you get the idea. 

When you consider the intro takes about 60 seconds it's AMAZING how much insight and knowledge Glen packs in to his remaining 4 minutes and 23 seconds.  

So if you've ever wanted to lift the lid on the workings of a platform, tune in to this episode for insights galore!

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Ever-popular Assembly regular, Les Cameron of M&G Wealth, joined us to answer the question ‘What’s going on with the lifetime allowance?’

Why? Because in his Budget statement to the House of Commons earlier this year, the Chancellor of the Exchequer, Jeremy Hunt, announced the removal of the amount you could hold in pension savings before becoming liable for tax.

And that’s quite the change. Because it’s not all that long since Hunt’s predecessors stood accused of levying ‘stealth taxes’ by freezing the LTA at to £1,073,100 – potentially exposing an influx of pension savers to tax liabilities thanks to the effect of inflation.

So with proposed legislation removing the LTA and introducing a rise in the annual allowance, doesn’t the future look rosey for pension savers and their pots?

Or do other proposed measures – like setting a limit of £268,275 on tax-free lump sums – muddy the waters a bit?

Well, that’s where Les came in. Because over the lunch-hour session he:

• recapped the saga of the lifetime allowance so far
• explained the changes that the government has proposed
• explored what’s already happened (and what’s still left to happen); and 
• considered what it all means for paraplanners working on retirement planning cases for clients.

Be honest. This stuff is like catnip to a paraplanner isn’t it?

Useful links

M&G Wealth have created a page on their website where you can download Les’s slides AND complete a brief test to obtain your CPD certificate for taking part. To visit, just tap the link below.

Slides and CPD

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In the third episode of his series of bite-sized Assembly on investing, Timeline’s Laurentius van den Worm takes on the topic of sequencing risk.

In just 15 minutes he offers a working definition of sequencing risk he brings the topic to life with an example of two fictional sisters who – despite enjoying identical returns over their 30-year retirement journey – experience starkly different levels of income during…all because of the consequences of sequencing risk.

What’s more, Laurentius explores pound cost averaging and ravaging as well as the ‘4% rule’. 

For paraplanners keen to top up on your investment know-how, it’s the ideal lunchtime listen.

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Rebalancing portfolios is a familiar task for paraplanners. Periodically – often after a client’s annual review – we make sure that fund allocations are tweaked so they’re true to original investment goals.

But how does rebalancing work from a platform’s point of view?

In the second episode of a three-part series on life behind the scenes at platforms,  Transact’s national sales manager, Stuart Fleat, walks you through the rebalancing process.

In just four minutes, Stuart explains how a platform calculates and processes sells and buys, how long it takes and how to check tax impacts upfront.

Note

We’ve tested a snazzy bit of tech to do some rebalancing of our own – to the sound for this episode. We’d love to know what you think so, whether you liked it or not, email hello@paraplannersassembly.co.uk and tell us what you think.

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Have you ever wondered how the transfer of pension or ISA or other investment actually gets transferred? Well now you will.

Because Transact’s Sian Ayling and Brian Radbone explain all in this bite-sized Assembly in conversation with host, Richard Allum.

In fewer than 15 minutes, they recap the reasons why transfers became a thing in the first place, why it can be hard to predict the time it takes to complete some in-specie transfers (it’s not just faxes that get a mention here but physical post), and why electronic transfer providers – like Origo – are making a difference to the ease of transfers.

Along the way, Sian and Brian talk about the effect of new UK pension transfer regulations, designed to fight scams, on the pace of transfers between providers.

Tune in and you’ll discover just how much choreography is required to make platform technology perform.

Useful links

Richard said we’d include a link to The Pension Regulator’s guidance on transfer requests. Here it is:

Dealing with transfer requests

Recorded on 22 September 2023

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For what seemed like AGES, low interest rates and low inflation rates gave the impression that the factors affecting a client’s future were pretty predictable.

But more recently, roller-coaster interest and inflation rates, combined with pandemics and wars, could leave you thinking that the future is altogether more unpredictable.

But is it?

Assumptions that are fit for purpose

During this online Assembly, Dan Atkinson and Richard Allum explore ways to think about planning assumptions in future.

They consider the kind of indicators that can form a set of assumptions with the durability to withstand those periodic headwinds sparked by social, economic and environmental events – the kind that have dominated our lives lately.

Of course investments are important but healthspans, death, inflation, spending, retirement, care and more have the potential to feature.

And then there are clients with specific outcomes in mind to add to the mix – for instance, meeting school fees, saving to offset childrens’ university tuition fees or deposits for their first homes.

Links

Dan and Richard referred to loads of sources of information throughout this Assembly. We've posted them at the event page but thought we'd add them here too:

Links

ONS: mortality in England and Wales ➔ https://bit.ly/41tRNbE

ONS: life expectancies ➔ https://bit.ly/4aFEHwr

ONS: life expectancy calculator ➔ https://bit.ly/3tfKCYd

Inequalities in life expectancy ➔ https://bit.ly/48fzv06

🥕 Carrot price ➔ https://bit.ly/4avnDcn

🥬 Brussels sprouts price ➔ https://bit.ly/48fzGZk

Guaranteed income: a licence to spend ➔ https://bit.ly/48lX7A8

Downloads

IFP briefing paper on assumptions ➔ https://bit.ly/41r9R6l (opens PDF)

FCA product projections and transfer value analysis ➔ https://bit.ly/3GPs5oB (opens PDF)

Rates of return for FCA prescribed projections ➔ https://bit.ly/3v5T6BD (opens PDF)

Screengrabs

The wealth effect in later life ➔ https://bit.ly/3NyMNwL (opens PNG image)

UK inflation from 1210 to 2000 ➔ https://bit.ly/3tlD5qJ (opens PNG image)

UK inflation from 1950 to 2023 ➔ https://bit.ly/3GNkGpO (opens PNG image)

Private education fees ➔ https://bit.ly/3towJa1  (opens PNG image)

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Host Caroline Stuart from Sparrow Paraplanning is joined by Heather Hopkins of Next Wealth to explore how financial advice practices have addressed – and continue to address – the demands of The Consumer Duty.

What did we cover?

As well as recapping what firms are expected to do about the Duty, Caroline and Heather also considered what they could do thanks to the opportunities it presents. Over the course of the lunch-hour session two significant themes emerged:

how firms are demonstrating the value of their advice; and

how to prove that clients really understand what they can expect from their financial plan

To bring the topic to life, Heather shared insights from consumer research recently carried out by Next Wealth (see the downloads below) which reveals what clients value – essential intel for 

With its focus on practicalities of implementation illuminated by evidence from original research, it proved to be a really informative and engaging hour.

Useful links

Heather refers to a set of slides during the Assembly. Here they are:

NextWealth - The Consumer Duty (opens PDF)

Want to take part in future research by NextWealth? Join the panel here:

https://www.nextwealth.co.uk/research-panel/

Follow this link to receive a personalised certificate to add to your record of CPD:

https://bit.ly/47YwVLe

Heather mentioned the Financial Advice Business Benchmarks Report (FABB). Here's the latest edition:

https://www.nextwealth.co.uk/research/financial-advice-business-benchmarks-report-2023/

NextWealth's website

nextwealth.co.uk

Caroline’s site/s

sparrowparaplanning.co.uk and sparrowsols.co.uk

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How are other paraplanners feeling about the state of advice in the UK these days? What do they really think about working with advisers? The adoption of technology? How about regulation and The Consumer Duty?

The Lang Cat’s Steve Nelson joined us to reveal insights gathered from paraplanners who responded to the research and communications consultancy’s annual State of the Advice Nation survey of advice professionals.

Despite being in its sixth year, this is the first time that The Lang Cat has cut the survey’s data to reveal paraplanners’ perspectives.

And to explore what the study tells us, Steve and Assembly host, Richard Allum, was joined by two leading outsourced and in-house paraplanners – Alan Gow of Argonaut Paraplanning and Jackie Manning from Evelyn Partners. 

Together they asked what this year’s results reveal. The conversation:

• revealed a surprising finding (to The Lang Cat team, at least) about clarity of communication between advisers and paraplanners 
• reflected on how the attitudes and sentiment towards some of the biggest issues in the sector are more aligned with the rest of the profession than you might expect; and
• explored attitudes towards technology – and AI in particular.

In a confessional post at The Lang Cat’s site back in November, Steve admitted that he’d wished he’d explored paraplanners’ perspectives a while back. 

Well now he has.

Useful links

You can download Steve’s slides here 👉 https://bit.ly/3Td4dSU (opens a PDF)

To take part in The Lang Cat’s research panel visit 👉 https://bit.ly/4bVcodW, scroll down and add your details ✍ in the ‘Take part’ box that looms into view

Once you've listened to the podcast, if you'd like a record for your CPD, help yourself here 👉 https://bit.ly/49yqv7i

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A special tax year end Assembly combining expert insights and Chat-powered Q&A.

Coming just a week after the Budget statement on 6 March, a little over a fortnight before tax year end, and while the Finance Bill from last October’s statement is still making its way through Parliament, it was the ideal time to tune in to what you really need to know as the tax year hits its paraplanning peak.

To help, we gathered together a stellar panel of experts to share their knowledge and know-how: Les Cameron from M&G Wealth, James Jones-Tinsley of Barnett Waddingham and Transact’s Brian Radbone. (Scottish Widows’s Tom Coughlan, was due to join us but technical gremlins proved too much of an obstacle.)

It's an hour-long discussion laden with lashings of insights on allowances, reliefs and exemptions spanning pensions, ISAs, capital gains tax and inheritance tax (and everything in between).

Useful links

Watch the replay on Crowdcast: https://www.crowdcast.io/c/rcm49qyvcyz6

Hosted on Acast. See acast.com/privacy for more information.

With the dust settling on the Chancellor’s Budget, Assembly favourite, Les Cameron from M&G Wealth, joined us to cast his expert gaze over the measures announced and what they mean for advice firms and their clients.

Over the course of one lunch-hour, Les explored what Jeremy Hunt’s Budget statement meant for things like inheritance tax, non-dom status, national insurance, lifetime allowance, annual allowance and pretty much any other allowance you can think of.

How many of the Budget measures trailed in the media in advance of the Chancellor’s speech actually materialised or turned out to be Treasury sleight of hand?

As regular Assembly participants know, Les absolutely loves fielding questions on tax and investing (especially from paraplanners) so tune into to see what issues cropped up.

Useful links

Grab a record of attendance for your CPD visit the dedicated event page for this Assembly at M&G Wealth’s Tech Matters site.

Hosted on Acast. See acast.com/privacy for more information.

How will AI affect paraplanners' day-to-day role?

Jonny Stubbs of LIFT Financial and Benjamin Fabi from Principled Paraplanning joined host, Richard Allum, for an online Assembly exploring how paraplanners are adapting to - and adopting - AI tools.

As well as learning about real-life examples of the role AI is already playing in paraplanning, this Assembly offered participants a chance to share their hopes, fears and experiences of the technology. By gathering together, we wanted to discover what paraplanners' are thinking and feeling about AI, and begin to understand how it could affect our day-to-day work.

Useful links

Early on in the podcast, Benjamin, Jonny and Richard run through some slides which summarise some of the commonly used jargon. That doesn't work brilliantly on audio but here's a PDF of the defintions they ran through:

AI jargon buster (PDF)

Later on, Jonny and Benjamin also share examples that illustrate the difference in results depending on the quality of prompts. Here are the examples they shared:

Benjamin's boiled egg example (PDF)

Jonny's report content example (PDF)

The Royal Institution Christmas Lectures 2023: The Truth about AI

For UK viewers: BBC iPlayer

For the rest of the world: YouTube

Open online courses on AI

Online learning platform, FutureLearn, offers a range of courses that you can choose from to get familiar with AI

FutureLearn

Tools mentioned in the recording and Chat

ChatGPT by OpenAI

Claude by Anthropic

Copilot by Microsoft

Saturn

PPOL suitability report builder

Watch the replay at Crowdcast

You can watch the full replay and read the comments in the - very active - Chat over here:

https://www.crowdcast.io/c/2xfo2f2o459r

Visit the event page

paraplannersassembly.co.uk: Paraplanning in the Age of AI

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In a world where even HMRC doesn’t seem too sure what the score is, how can paraplanners get to grips with the new allowances landscape so clients know what they need to know right now?

Well you could tune into this recording of our Assembly with Les Cameron on 24 April 2024 for starters.

Because M&G Wealth’s head of technical took us on a guided tour of the new allowances regime following the abolition of the lifetime allowance (LTA).

During this lunch-hour event, hosted by Richard Allum of The Paraplanners, Les explored what has changed, what matters, and what it all means for you and your clients.

Useful links

Here are useful links and downloads from this event. M&G Wealth have created a dedicated page for this event where you can take a quiz to receive a record for your CPD. Just follow the link to grab your certificate.

Les Cameron's guide to the new allowances landscape at M&G Wealth

Les refers to slides throughout this Assembly which you can download here:

Slidedeck: Quite simply - the new pension allowances

Finally, Les mentioned M&G Wealth's transitional tax free amount tool, which is available here:

M&G Wealth’s transitional tax free amount tool

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A bit of extra time with Les Cameron following his online Assembly on the post-LTA allowances regime. 

We ran out of time for Les to deal with a large number of questions in the chat at the main Assembly session, so Richard and Les met up later to address the questions instead.

To watch the online Assembly session visit https://www.crowdcast.io/c/beeglny38q63

You can listen to the podcast episode featuring Les's guide to the new allowances landscape here

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It’s no secret that top slicing relief offers a powerful method of reducing tax liability by spreading bond gains across each year of the lifetime of the bond. 

But no matter how experienced a paraplanner you may be, working out the best way to make use of the relief, and getting the top slicing calculations right, can be tricky.

That’s why we think this case study investigation (CSI) on top slicing will be right up your street.

In this 45-minute special on top slicing, Utmost International’s technical sales manager, Steve Sayer, joins The Paraplanners’ Richard Allum, to pick his way through a case study featuring fictional client, David. 

Designed to give you the chance to consider the financial planning opportunities from all sorts of angles, this CSI will help you:

• understand how top slicing relief works and when it can be applied;
• calculate top slicing relief as accurately and tax efficiently as you can;
• work out strategies to assign bond segments to spouses or beneficiaries to reduce tax liabilities;
• understand how pension contributions can be used to save tax and maximise relief; and
• navigate how bond gains, personal allowances, and other sources of income work together

Whether you’re new to top slicing relief or are a seasoned pro, it never hurts to top up your knowledge and know how – especially when it can make such a big difference to a client’s financial plan.

Useful links

Download the slides referred to in this case study investigation. Just listen out for the bell to follow along.

Slides: Case Study Investigation - more top slicing relief (opens PDF)

CPD: take the quiz and receive a certificate by email

Utmost x Paraplanners' Assembly: all our previous deep dives

Utmost Technical Academy webinar series

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Parmenion's head of strategic partnerships, Patrick Ingram, joined host Richard Allum for a lunch-hour Assembly to explore how paraplanners can approach the art of cashflow forecasting these days.

Why? Because two years ago, the Bank of England had raised interest rates to break a 1% ceiling that had been in place since February 2009.

Ten more rate rises followed. Inflation peaked at 11.1% in October 2022. The result for many investors, savers, borrowers, and anyone who bought anything, quite frankly, was a cost of living shock.

Moreover, the already unfamiliar effect of rising living and housing costs was compounded by a fiscal drag that was set to squeeze the spending power of many taxpayers: any gains in pay evaporated as personal allowances remained stubbornly static.

So the chances were that we were all living in a 'new normal' – and many would have said we were experiencing a reversion to pre-2008 financial crash 'normal'.

Cashflow forecasting in the 'new normal'

What did all that mean? Well, after 15 years of low rates and barely perceptible cost of living rises, predicting the future with any confidence suddenly felt a lot more…unpredictable.

Once ultra-reliable features of a paraplanner's toolkit didn't seem half as straightforward as they once did. And that included one of the foundational elements of any financial plan: cashflow forecasting.

So in a world that continued to be beset by economic, political, and environmental uncertainty, what did a paraplanner need to know to produce a cashflow forecast that wouldn't dissolve on contact with reality?

Takeaways from this lunch-hour Assembly

Patrick explored ways of thinking about cashflow and forecasting which relied less on predicting the future and more on preparing for it. We covered concepts including:

• causes and effects of fiscal drag
• capacity for loss
• cash budgeting
• wealth ratios
• cashflows and the consumer duty

It was a 60-minute session that offered a stack of insights and practical ideas that could be applied to client cases right away – plus a discussion that underlined just how vital conversations about cashflow with clients could be.

Useful links

Here are some links we thought you’d like. To watch the replay on Crowdcast, follow the link and tap ‘Save my spot’ to view the recording.

Patrick's slides: Patrick Ingram: cashflow modelling visuals

Bank of England daily estimated yield curves

Want a record of your attendance today for your CPD? Follow the link, add your details and we’ll email you a personalised certificate: Get your CPD

Watch the replay on Crowdcast (includes Chat)

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Once upon a time, we were scouring our library of previous online Assemblies and realised something: we had never covered the topic of inheritance tax (IHT) planning using the alternative investment market (AIM)!

So we thought it was high time to fix that with a whistle-stop tour to discover why investing in AIM is right up there as a strategy for IHT planning.

Whether you’re new to paraplanning and in search of a primer, or you’ve been paraplanning for absolutely ages and want to make sure you really know what you’re talking about, tuning into this Assembly will be well worth your while.

To help us navigate the topic we were joined by the ideal tour guide: Canaccord Genuity’s senior investment director and head of IHT investments, Paul Parker. During our lunch-hour gathering we explored:

• why AIM is so appealing for IHT planning
• business relief and how it works
• why AIM has a reputation for riskier investments
• how clients can invest in AIM – investment managers and DFMs
• researching the suitability of AIM portfolios and their managers
• things to consider when designing an IHT strategy using AIM

As ever, the chat was open for paraplanners to pose questions, or share ideas and observations – and the quality of contributions was great!

Useful links

Here are some useful links that cropped up during this Assembly – including the slides that Paul referred to and a link to MICAP, an alternative investment research tool mentioned by a number of contributors in the Chat.

Watch the Replay on Crowdcast

Paul's slides: AIM for IHT for Paraplanners' Assembly

Canaccord Genuity's IHT portfolio service

Canaccord Genuity's IHT portfolio documents for clients

MICAP's alternative investment research tool

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In a special bite-sized Assembly, Transact’s Stuart Fleat explains how model portfolio services offered by discretionary investment managers are able to be accessed on platforms like Transact.

In less than six minutes, Stuart explains how platforms and MPS providers are able to handle access to client accounts and data securely and confidentially, how portfolio rebalancing works in practice, practical considerations around capital gains tax, and how clients are invested into the model portfolios.

Hosted on Acast. See acast.com/privacy for more information.

Brian Radbone, Technical Counsel at Transact, joins Richard to unpack the post-lifetime allowance (LTA) world and its consequences for paraplanners.

In a bite-sized Assembly lasting less than eight minutes, Brian explores transition certificates, new lump sum allowances, and why timing is everything when it comes to crystallising benefits. Plus he discusses the importance of understanding provider restrictions.

If you’re in the market for a post-LTA primer but are pushed for time, this Assembly is ideal.

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Canaccord Genuity’s chief investment officer, Tom Becket, joins Richard Allum for a primer on fixed interest investments that is ideal for paraplanners wherever you are in your career.

During a 20-minute conversation, Tom explains the basics of bonds and gilts, how interest rates affect their values, and how the recent spikes in interest rates have affected returns and revived annuities – putting an end to years of fixed interest investments’ appearing to be ‘uninvestable’.

The likelihood of lower inflation combined with potential interest rate cuts is positive for fixed interest markets.

But Tom is keen to stress that all bonds aren’t created equal and he offers his thoughts on where – depending on the risk appetite of your clients – opportunities might lie across a spectrum of fixed interest investments, from government debt to high-yield credit.

For paraplanners looking to get a handle on this significant but possibly misunderstood asset class, this bite-sized Assembly offers valuable insights to help navigate the fixed interest landscape.

Useful links

Here are some links for this bite-sized Assembly, including the slides that Tom refers to during the conversation. Listen out for the bell to move to the next slide.

Slides: Fixed interest investments for Paraplanners' Assembly

Canaccord Genuity's website

Video: watch on Vimeo

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Believe it or not, it's already been nine years since the introduction of pension freedoms. And while it's fair to say that the arrival of drawdown has transformed the way that clients can plan income in retirement, when the new measures were announced back in 2015, they were made against the backdrop of a generally benign economic climate.

What had changed and what could paraplanners do?

Today, high interest rates and stubborn inflationary pressure, coupled with greater regulatory scrutiny courtesy of The Consumer Duty and the FCA's retirement income review, make for altogether more changeable weather.

So how are paraplanners expected to make forecasts and hatch plans that will deliver sustainable incomes for clients in their retirement? Plans that stack up under scrutiny - and against the demands - of The Consumer Duty?

During this lunch-hour Assembly, we were joined by Gareth Davies from Scottish Widows, who not only explored these issues but dug into other considerations that could influence paraplanners, advisers and clients when thinking about accumulation and decumulation strategies.

No matter what your experience or expertise as a paraplanner, this 60-minute session offers insights and ideas when considering options for successful and sustainable income in retirement for your clients.

Useful links

Here are links that were mentioned by Gareth and Richard – and contributors in the Chat:

The Platform Paraplanner Room

Scottish Widows' TechTalk

Picture your future

Our cashflow Assembly with Patrick Ingram

Receive a CPD certificate

Watch the replay in Streamyard

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To mark Independence Day in the United States, we thought we'd treat you to a bonus episode: a bite-sized Assembly that's all about investing for US expats living in the UK.

Because despite being citizens of the 'land of the free', once they leave the USA's shores, expat savers and investors often face complex challenges to stay on the right side of the US equivalent of HMRC: the Internal Revenue Service (IRS).

So what do paraplanners in the UK need to know to support US expat clients? Who better to ask for expert knowledge and insight than a specialist in investing for US expats: Canaccord Genuity's Laurence Leigh.

In this bite-sized Assembly, Laurence explores:

• The unique tax challenges facing US citizens abroad – including worldwide taxation and annual IRS returns
• Investment limitations and potential pitfalls, such as the risks of UK ISAs and non-US listed funds
• Solutions for compliant investing – including US-recognised structures and expert portfolio management

In just ten minutes, Laurence covers the dos and don'ts of advising US expats, the limitations of UK platforms, and the severe penalties for non-compliance.

It's an episode packed with practical advice that will give you confidence in ensuring US expat clients can invest effectively and stay compliant on both sides of the Atlantic.

Useful links

Canaccord Genuity's US investment service

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Working out what to do with your client’s wealth after their death is all part of a paraplanner's life.

But settling on the best strategy can be complex – especially when missing a vital detail can have costly consequences.

So what can you do about it?

Stay up to date with the latest thinking, that’s what.

Which is why Neil Macleod, senior technical manager at M&G Wealth, joined us to explore death and trusts and paraplanning.

During this lunch-hour Assembly, Neil covered:

• the types of trusts that can be created upon a person's death
• how to spot different trust structures and what this means
• the income tax and capital gains tax treatment of trustee investments
• strategies for selecting appropriate investments for specific trusts
• practical approaches to providing investment advice to trustees

What will I learn from this online Assembly?

By the end of this Assembly, you'll be able to:

• identify the types of trusts which can be created on a person's death
• describe the income tax and CGT treatment of trustee investments
• identify appropriate investments for a particular trust

No matter how complex the cases you deal with, this is a great chance to tune in to Neil’s expertise, and get up to speed on death and trusts.

Useful links

Want a record for your CPD PLUS Neil’s slides? Then follow this link: 'Death. Trusts. And paraplanners.' event page at M&G Wealth

For M&G Wealth's Technical Hub visit: Technical Hub

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When it comes to gaining and maintaining inheritance tax (IHT) planning know-how and expertise, nothing beats a good case study.

So this special case study investigation, which features not one but two client examples, is bound to be right up your street.

Because in this 50-minute episode, Utmost International’s Steve Sayer joins host, Richard Allum, to explore why reversionary interest trusts (RITs) combined with the available nil rate band (NRB) threshold, can become a powerful and flexible feature of a client’s IHT strategy.

In a conversation that’s packed with practical insights, ideas and expertise, tax and trusts expert Steve unpacks two case studies which will help you:

– understand the mechanics and key features of a RIT

– consider planning opportunities using RITs especially in conjunction with other options

– be able to discuss and explain RITs and NRB with a client in a clear and concise way

– apply this knowledge to appropriate, individual, client scenarios

Whether you’re a seasoned paraplanner who wants to keep your knowledge fresh or the role of RITs in IHT planning is new territory for you, we’re sure you’ll enjoy the hands-on learning offered by this expert discussion.

Useful links

Download the slides referred to in this case study investigation. Just listen out for the bell to follow along.

Download slides (opens a PDF)

CPD: complete the form and receive a certificate

Vimeo: watch this case study investigation

Utmost x Paraplanners' Assembly: all our previous sessions

Utmost Technical Academy webinar series

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It's been just over a year since the arrival of The Consumer Duty.

So, whether you've been neck-deep in its implementation or still feel like you're getting to grips with it, this lunch-hour Assembly asks how we’re all getting on with it.

To explore the topic, we were joined by founder of Compliance and Training Solutions (CATS), Mel Holman, and Tom Lloyd-Read, technical planning manager at Stonehage Fleming.

Mel has been providing advice and implementation support to a range of organisations while Tom has been deeply involved in implementation of the Duty within his firm.

Over the course of the lunch-hour Assembly, we covered:

* real-life experiences of implementing The Consumer Duty

* practical approaches to demonstrating client understanding

* the ongoing challenge of defining and proving value

* how firms are adapting to support vulnerable clients

* the impact of the retirement income review

What's more, we also touched on cashflow modelling assumptions, dashboards and gap analysis.

Of course, being an Assembly, not only did attendees tune into the conversation, but they also shared their thoughts and ideas on what's working, what's not, and where firms are still figuring things out in the chat.

If you missed this hour's worth of thoughtful insights and practical takeaways, keep an eye out for future events where we'll continue the conversation on The Consumer Duty and other important industry topics.

Useful links

Here are some useful links and resources that were mentioned during the recording of this online Assembly:

Here's Mel's consultancy's website: Compliance and Training Solutions (CATS)

And Tom is technical planning managers for Stonehage Fleming. Here's their site: Stonehage Fleming

Mel mentioned The Lang Cat's The meaning of value report with Royal London and also recommended watching the FCA's webinar The Consumer Duty: One year on. It was held on 31 July but you can register to access the recording.

Meanwhile, here's the Consumer Duty page at the FCA's website. Finally, Richard asked Mel about the FCA's thematic review of Retirement Income Advice

Watch the replay of this Assembly at Crowdcast or Vimeo

Grab your CPD

If you'd like to receive a record of listening to this podcast for your CPD, follow this link: The Consumer Duty CPD

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Ever wondered how platform’s manage your client's cash?

In this bite-sized Assembly, Transact’s Glen Sweet reveals all.

You'll learn how a platform like Transact calculates the aggregate interest earned across a client’s daily trading and longer-term deposit accounts. And also that, because of differences in charging from platform to platform, it’s important to take a closer look at whether and how charges affect interest returned to clients.

If you’re interested in fixed-term deposits on platforms, Glen covers that too.

And let's not forget about HMRC. Glen explains how different wrappers handle cash interest – from tax-free ISAs to the more complex general investment accounts (GIA).

And finally, did you know there’s a trend among some businesses in the UK – at least at the time of publication in September 2024 – to move corporate cash on to platforms? Tune in to find out why.

Hosted on Acast. See acast.com/privacy for more information.

There's nothing paraplanners love more than a case study to help bring a technical topic to life.

And that’s especially true when it comes to getting to grips with the complexities of inheritance tax (IHT) calculations.

Which is why you’re going to love our latest podcast episode: a case-study led online Assembly that’s all about calculating IHT.

Recorded on 20 September, host Richard Allum is joined by Graeme Robb from M&G Wealth as he guides us through a case study in which he will break down each stage and address common misconceptions. During the lunch-hour Assembly, Graeme covered:

• Nil rate bands: how nil rate bands come into play and their place in calculations
• Failed PETs: learn how to bring failed potentially exempt transfers (PETs) back into the equation
• Chargeable lifetime transfers: discover the impact of transfers requiring a 14-year look-back period
• Allowances on Death: explore the various allowances that can be factored into calculations if unused
• Taper relief: how it actually works - it's not what many think!
• Charitable gifts: unpack the 36% band for charitable gifts and find out how to calculate it correctly
• Deeds of variation: understand their influence on IHT calculations
• Tax Responsibility: who's actually responsible for paying the calculated tax

How does that sound? Tune in now.

Useful links

M&G Wealth has created a mini-site to support this event where you can take a quick quiz to receive a CPD certificate for your records. To grab your CPD, follow the link below.

Grab your CPD

Slides: Cracking the IHT code

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How are other paraplanners feeling at the moment? About regulatory change? About day-to-day pressures and workload? About emerging technology and its influence on advice? About perception of paraplanning as a profession and career? 

Upbeat? Pretty neutral? A bit meh?

Well wonder no more as Craig Spittal of Scottish Widows reveals the findings of Scottish Widows’ latest annual survey of paraplanners in the UK.

Craig and host, Richard Allum, are joined by paraplanners Ceetal Katechia of PSA Financial Services and Sarah Lees of Forvis Mazars to discuss findings that fresh off the press. In this lunch-hour Assembly conversation covered

• the changing demographics of the UK’s paraplanning population 
• the most common misconceptions about paraplanning as a career
• what challenges are adding the most weight to paraplanners’ workloads  
• how your paraplanning peers are feeling about role of technology – including AI
• how regulatory change – such as The Consumer Duty – is affecting the day job
• what paraplanners think about potential change in future e.g. an independent pensions policy body 

For a long time, paraplanners (and paraplanning) were lucky if they received even a passing mention in the conclusions of surveys of advice professionals in the UK.

So this online Assembly – packed with findings from original research commissioned and conducted only among paraplanners – doesn’t just offer a really clear snapshot of how paraplanners are feeling about the world of advice today, it also offers us all a chance to reflect on what’s affecting our profession and help focus our minds on how we’d like to shape our profession in the future.

Useful links

The team at Scottish Widows has created a mini-site to support this event where you can take a quick quiz to receive a CPD certificate for your records. To grab your CPD, follow the link below.

Grab your CPD

Read the report: 'Paraplanning redefined'

Craig's slides: Paraplanning redefined (opens PDF)

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You can’t beat a good case study or two for discovering and consolidating technical knowledge, insights and practical ideas. 

So you’re going to love this special episode in which Steve Sayer of Utmost International explores not one, not two, but three case studies that – together – spotlight essential planning considerations for clients who have spent time overseas, and have invested abroad or hold offshore bonds.

Because in this hour-long case study investigation special, Steve steers us through time apportionment relief, personal portfolio bonds and deficiency relief.

Time apportionment relief: The lion’s share of the recording focuses on time apportionment relief – a vital consideration for clients who spend time abroad or return to the UK with existing investments. Steve shows how pre- and post-2013 rules can significantly impact tax calculations, explores the potentially valuable concept of 'material interest periods' and covers plenty more besides.

Personal portfolio bonds: Using case study scenarios, Steve illustrates the potential pitfalls of non-compliant policies and the hefty tax implications of deemed gains.

Deficiency relief: Steve offers a comprehensive overview of the applications of deficiency relief and considers its limitations.

It’s no accident that Steve’s sessions are some of the most popular among paraplanners. His forensic knowledge, clarity of explanation and use of case studies bring topics to life and make episodes like this a must-watch or listen.

Useful links

To receive a certificate for your CPD records plus a link to download a copy of Steve’s slides, follow these links:

Request a CPD certificate

Download Steve’s slides

Browse previous Assembly sessions at Utmost’s site

Visit the Utmost Technical Academy webinar series

Steve mentions two technical briefings that are available at Utmost's site. Here are the links:

Tax planning using bonds – Time apportioned reductions

You can also watch the video either at the event page or on Vimeo.

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