Paraplanners' Assembly

Each of us shares an ever more complex and connected planet. One where we’re all facing the consequences of a human-made climate emergency and conflicts. A world of profound inequalities in health, economic and social outcomes between – and within – populations. So it shouldn’t be a surprise to learn that more and more clients are looking for returns that aren’t measured financially, but by effecting positive economic, social and environmental change.But how many of your clients think this way? And if you did know how many, how confident are you that you can help clients make their social and charitable ambitions part of a practical financial plan? What you’ll learn at this AssemblyTo explore this topic we gathered together three wise people (appropriate for the time of year) to help us:look at different ways in which clients can give these dayswhy they might want to give in the first place; andthe evidence that clients do want to give but their advisers don’t seem to realiseHost Richard Allum is joined by pioneering ethical investing advocate and financial planner Jeannie Boyle of EQ Investors, Jack Chellman chief project officer of the innovative Global Returns Project and David McIntosh of chief executive of ShareGift – a brilliant service that has turned the shareholding equivalent of spare change into more than £50 million in donations to UK charities since 1996.Listen nowOnce upon a time, philanthropy was something that only the very wealthiest would consider. But in this season of goodwill – and in a world that doesn’t half need it – find out why that’s no longer true – and how paraplanners can help clients put their money to work in powerfully positive ways more easily than ever before.Useful linksGrab your CPD certificate for watching or listening to this Assembly by visiting the link below. We’ve also included a PDF of Jack's stats plus link to the podcast episode.CPD: Request your certificateDownload: Jack's stats on client appetite for giving (opens PDF in new browser tab)Watch the Replay on Crowdcast (includes Chat) or on Vimeo (no Chat)Visit the event page

Aegon UK’s Sarah Purves and Succession Wealth’s Ellie Welling return for a follow-up to last month’s ‘What kind of paraplanning leader will I be?’ Assembly.Picking up where they left off in November, Sarah, Ellie and host, Richard Allum, explore a topic that every aspiring and existing leader will experience during their career: difficult conversations. Sarah shares ideas and techniques that can help paraplanning leaders successfully prepare for and navigate discussions that you might otherwise dread.During the second half of this episode, our guests focused on questions, ideas and topics raised by paraplanners during the first Assembly.  But whether or not you joined Sarah and Ellie last time, and haven’t had a chance to listen or watch it on catch up yet, you’re sure to gain plenty to inform your reflections on successful leadership by tuning into this discussion.Useful linksMake sure you grab your CPD certificate for watching or listening to this Assembly by visiting the link below. We’ve also included links and downloads that Sarah, Ellie and Richard mentioned during this Assembly.CPD: Request certificateSlides: What kind of paraplanning leader could I be?Watch this Assembly on CrowdcastWatch this Assembly on VimeoTo catch up with the first Assembly in this series you can watch the replay on Crowdcast or listen to the podcast episode. You find all the links mentioned in that episode at the event page.

Think you know how to stay safe online? No matter how savvy you think you are, even people who have never known a world without the web can fall victim to sophisticated scams (listen out for the case of a 20 year old digital native who nearly lost £000s in a fake HMRC email scam). Which is why you should tune in to this eye-opening conversation with Sarah Coles, Parmenion’s head of cyber and resilience. As a seasoned cybersecurity expert, whose blog posts have acquired almost cult status among readers of the Assembly's monthly newsletter, Sarah has spent a decade protecting wealth management professionals and practices. In this conversation with host Richard Allum, Sarah shares five practical tips that will help shield you and your business from a world of cyber threats.Want to know why storing passwords in your browser might be riskier than you think? Or why relying on SMS codes for two-factor authentication could leave you vulnerable? Sarah breaks down complex security concepts into actionable steps you can implement right away.In fewer than 30 minutes, you'll discover:Why length matters more than complexity for password securityThe truth about backup solutions (no, Dropbox sync isn't enough)How to spot sophisticated phishing attempts that can fool even expertsSimple ways to protect client data that meet regulatory requirementsReal-world examples of common security mistakes and how to avoid themWhether you're a solo paraplanner or part of a larger team, this conversation offers valuable insights for protecting not only your practice and your clients' sensitive information but your personal information too. These days, good security isn't just about the tech you use. It's about developing smart habits that become second nature. Tune in and, in half an hour, you could be setting out on a lifetime of freshly minted healthy cyber security habits.Useful linksCatch up with Sarah’s cyber security posts at Parmenion’s blogSarah mentioned Parmenion’s regular email. To subscribe, visit Parmenion’s homepage, scroll down and click the link under ‘Sign up to our latest insights’ section.Richard mentioned 1Password a number of times – even though he’s not on their payroll! – which is a password manager app that works on any of your devices as an app and in your browser.

Scottish Widows’ pensions specialist (and Big Day Out 2024 ‘Quiz the Expert’ alumnus), Gareth Davies, joins host, Richard Allum, for the follow-up to his popular ‘Is there a recipe for successful retirement income advice?‘ Assembly which we held back in June.Why a second helping?An unbelievably busy Chat meant that Gareth fielded a fair few comments and questions which left too much ground to cover in just one lunch hour. So Gareth agreed to come back later in the year to conclude his survey of the retirement advice landscape.In this concluding Assembly, Gareth and Richard…Revisit the annuities vs. drawdown debate - examining the case for ‘annuities plus drawdown’, exploring the latest annuity features, and discussing strategies for annuitising fully crystallised pension pots.Dig into pension death benefits: they’ll consider the options and potential pitfalls of death benefits – plus focus on the importance of nomination forms and their regular review.Assess the effect of regulatory change: if there’s time, they’ll consider how the FCA’s thematic review is influencing retirement income advice, what it may mean for centralised retirement propositions, and what it means for your ongoing assessment of suitability.It makes for a lunch-hour Assembly that’s packed with valuable insights and practical ideas that you can apply to client cases right away.Useful linksDon't forget to grab your CPD for tuning into this Assembly. Just add your details to the survey and the certificate will be emailed to you within an hour.In case you haven't heard it, you can hear Gareth's appearance in Is there a recipe for successful retirement income advice? from June 2024. You can also find all the links for that session at the event page.Gareth mentioned HMRC's technical consultation on IHT on pensions and, in the chat, Nick Bromhall posted a link to the HMRC IHT Manual which has helpful information about gifting out of income.

This online Assembly focusing on professional development would not be possible without the generous support of Aegon UK. Thanks to the team at Aegon for supporting this week’s event – and for supporting the development of paraplanners and paraplanning in the UK through their support of the Paraplanners’ Assembly.---Perhaps you’ve been thinking about stepping into a leadership role in paraplanning. Or you’re already managing others and want to build your skills. Either way, this specially extended Assembly is for you.Why?Over 90 minutes, Aegon UK’s learning and organisational consultant, Sarah Purves, and Succession Wealth’s recently appointed paraplanning team leader, Ellie Welling, joined host, Richard Allum, to explore the paraplanning leadership and how you can make the step into that role with confidenceThroughout the Assembly, Sarah invited Ellie and Richard (and the Chat) to try out a series of exercises to help you:identify the paraplanning leadership qualities you already have (you might be surprised)discover your natural management style by learning from what’s worked (and what hasn’t) with your own managersget better at those tricky conversations that come with leading othersbuild a practical toolkit you can use straight away to have more impact in your rolePlus Ellie and Richard shared their own experience of moving into leadership roles – what they’ve learned, what they wish they’d known, and how they have developed their own approach to managing a team.It’s an Assembly that’s specially designed so you can:reflect on the challenges of leadership withoutlearn from the experience of others at different stages of their careergain practical tips you can actually use right awaywork out if leadership is right for you and what it could look likeask questions you’ve always wanted to ask about managing othersTune in nowThere’s no magic formula for becoming a leader. But there are tools and techniques that really work. No matter whether you’re a freshly minted paraplanning leader or have many years’ experience behind you, there are bound to be ideas and insights in this conversation that will help you.Useful linksThere are loads of links from this Assembly and we’ve listed them below. Most important though: make sure to grab your CPD certificate for watching or listening to this Assembly. Follow the first link in the list,CPD: Request your certificateSlidesSarah's slides: What kind of paraplanning leader could I be? (downloads a PDF)Sarah’s slides mention lots of recommended books, courses, talks and listens. You'll find links to them all (plus every other conceivable link for this Assembly) at the event page. (Scroll all the way down and you'll spot the list.)Watch this AssemblyIf you'd like, you can watch the Replay on Crowdcast (includes the Chat) or view the video on Vimeo too.

Perennial Assembly favourite, Les Cameron of M&G Wealth, joined us to share his thoughts on Labour’s Budget on 30 October.As well as the fact that Rachel Reeves made history by becoming the first woman to deliver a budget as Chancellor of the Exchequer, were there measures that are sure to feature when Budget history is written?Or were the widespread jitters among savers and investors ill-founded as Labour delivered its first Budget since Alistair Darling’s on 20 April 2010 – no fewer than 5,334 days earlier.What actually happened?Were the headlines screaming about capital gains and inheritance tax? How about pension tax relief and fuel duty? Or national insurance and the British ISA? Perhaps even VAT on school fees or measures affecting non-doms? And what about a wealth tax?Les was on hand to offer his thoughts and insights, and address lots of questions and comments posted by paraplanners in the Chat.So did it turn out to be one of the most consequential Budgets of recent years? Was it more of a ‘pitch-rolling’ statement in preparation for future measures? Or something else altogether?Tune in and find out.Useful linksOnce you’ve listened to the podcast, take the quiz at M&G Wealth’s site to receive a certificate for your CPD records:Take the quiz at M&G Wealth’s episode siteIf you'd like, you can watch the Replay on Crowdcast (includes the Chat) or view the video recording on Vimeo too.Other useful downloads mentioned during this Assembly include:M&G Autumn Budget SummaryM&G tool for extracting company profitsM&G Tax Wrapper Comparison ToolLes also mentioned HMRC’s Technical consultation - inheritance tax on pensions. That link will take you straight to seven worked examples in Annex 6.In addition, Les mentioned M&G Wealth’s Adviser guide: Financial Planning with small and medium-sized enterprises (opens a PDF) and briefly referred to last August’s online Assembly on Investing for business these days

Rachel Reeves will become the first woman in UK history to deliver a Budget statement on Wednesday 30 October. But how exactly will the measures that she has announced become law – and how quickly?That’s the question that host Leanne Pickering of Pivotal Paraplanning and James Jones-Tinsley of Barnett Waddingham tackle in this Assembly. Together, Leanne and James explore how Budget changes contained in the Finance Bill are transformed into client advice - from Parliament, through providers, paraplanners, and other advice professionals - ensuring compliance with the latest laws and regulations.Along the way, they explore examples of when things go well (like the pensions industry’s prep for A-Day) and when they don't (the ongoing saga of lifetime allowance abolition). You'll learn about the stages that the Finance Bill must pass and why some changes can happen overnight while others take months to implement. Plus Leanne and James share some ideas about client questions during periods of uncertainty including sources of information that can be helpful.Whether you're puzzled by parliamentary processes and want to understand more, or just want to brush up on your knowledge of how Budget measures become a feature of your daily work, this conversation offers you a really accessible and interesting primer.Useful linksDuring the conversation, a number of sources of useful Budget information are mentioned, so here they are.James is a fan of the HM Treasury website and the HMRC’s Pensions Tax Manual  He also mentioned the Pension Management Institute’s website - and Leanne coaxed out of him the fact that he’s appearing on post-Budget webinar 2024 Budget and its impact on pensions at 3pm on 30 OctoberFor outsourced paraplanners, Leanne recommended looking out for WhatsApp groups – plus technical insights and briefings published by providers including Barnett Waddingham and M&G Wealth And there’s the Paraplanners’ Assembly’s Big Tent, of course, where you can often find technical experts – whether they work for providers, or as in-house or outsourced paraplanners – offering their insight, knowledge and expertise. For more on the parliament end of things, the Institute for Government has a fantastic searchable database of explainers, including this one on BudgetsYou can track the progress of any Bill that is before Parliament using parliament.uk's Parliamentary Bills page

What steps can you take to make sure your client’s plan will deliver a reliable income in retirement nowadays?After all, it’s an area of advice that is coming under some significant regulatory attention. Because not only is it the subject of a thematic review but the arrival of The Consumer Duty has also turned the spotlight on the suitability of advice too. Retirement income advice: why all the fuss?The last few years witnessed big challenges for paraplanners seeking secure incomes in retirement for clients thanks to significant economic and political events.  First there was pension freedoms and the surge in drawdown strategies. Next, rising inflation and interest rates conspired to squeeze income during the cost of living crisis. And that crisis prompted the search for secure income and a revival of annuities.The paraplanner’s dilemmaBut what’s the right balance between drawdown and secure income strategies? (Is there a balance to be struck at all?) What steps can you take so your client won’t simply run out of money? And how can you be sure that the FCA will agree that your approach to retirement income is consistently suitable?Patrick’s practical planning pointersThat’s where our guest expert at this Assembly, Parmenion‘s head of strategic partnerships, Patrick Ingram, comes in. Because Patrick shares some practical ideas that you apply straightaway to cases, and offers insights that will help you think through the planning challenges.Among the areas that Patrick and host, Richard Allum, cover in this lunch-hour Assembly are:analytical drawdown advice for clients spending money in retirement why managing drawdown is different to wealth management the importance of secure income ratios in drawdown planning the ‘4% rule’ versus current annuity ratesUseful links To receive a certificate for one hour’s worth of CPD, follow this link – Receive my CPD certificate You can also watch the replay of this Assembly at Crowdcast or at the event page

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 linksTo receive a certificate for your CPD records plus a link to download a copy of Steve’s slides, follow these links:Request a CPD certificateDownload Steve’s slidesBrowse previous Assembly sessions at Utmost’s siteVisit the Utmost Technical Academy webinar seriesSteve mentions two technical briefings that are available at Utmost's site. Here are the links:Tax planning using bonds – Time apportioned reductionsYou can also watch the video either at the event page or on Vimeo.