Paraplanners' Assembly

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.

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 reviewWhat'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 linksHere 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 FlemingMel 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 AdviceWatch the replay of this Assembly at Crowdcast or VimeoGrab your CPDIf you'd like to receive a record of listening to this podcast for your CPD, follow this link: The Consumer Duty CPD

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 scenariosWhether 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 linksDownload 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 certificateVimeo: watch this case study investigationUtmost x Paraplanners' Assembly: all our previous sessionsUtmost Technical Academy webinar series

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 deathhow to spot different trust structures and what this meansthe income tax and capital gains tax treatment of trustee investmentsstrategies for selecting appropriate investments for specific trustspractical approaches to providing investment advice to trusteesWhat 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 deathdescribe the income tax and CGT treatment of trustee investmentsidentify appropriate investments for a particular trustNo 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 linksWant a record for your CPD PLUS Neil’s slides? Then follow this link: 'Death. Trusts. And paraplanners.' event page at M&G WealthFor M&G Wealth's Technical Hub visit: Technical Hub

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 returnsInvestment limitations and potential pitfalls, such as the risks of UK ISAs and non-US listed fundsSolutions for compliant investing – including US-recognised structures and expert portfolio managementIn 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 linksCanaccord Genuity's US investment service

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.

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 linksHere are links that were mentioned by Gareth and Richard – and contributors in the Chat:The Platform Paraplanner RoomScottish Widows' TechTalkPicture your futureOur cashflow Assembly with Patrick IngramReceive a CPD certificateWatch the replay in Streamyard

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 linksHere 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' AssemblyCanaccord Genuity's websiteVideo: watch on Vimeo

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.