benjaminfabi
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Is it also the case that if you are investing via a B-Corp certified DIM then you'd be okay? EG Tribe Impact Capital and EQ Investors are both B-Corp status DIMs, so it would be harsh if investing through their portfolios threatened your own stat…
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Prior to April 2024 includes all pre-commencement pensions though, eh? Everything pre-2006 was also pre-2024.
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Having just skimmed the draft legislation, I'm interested to know whether the "transitional tax-free amount certificate" mentioned in para 125 and then defined from para 127 onwards is intended for this situation? I don't have time to read it in…
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If she is only 57 you can also start to use PET via assignment as a strategy for reducing the estate. The segments are decent sizes for gifts
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You don't say how old she is. Mortality may play a role, although it doesn't seem like she will ever run out of money. Sounds like she needs c£90k pa from the bond. The 5% allowance on 500 segments is more than double what she needs, so I'd proba…
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Gilt portfolios are very good for short-term laddered liquidity, particularly for high earners, as almost all the return comes from capital gains, which aren't taxable.
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BTS is good. BrandFT stuff for AF4 is also tried and tested, especially the calculations workbook as it applies to J10 and J12 too (which you should consider doing one or both of at the same time for more points from the same syllabus).
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Ditto here for most of my planners. They will inevitably talk about the markets as part of the annual meeting, with notes, but the tolerance questionnaire is not more frequently than 3 years.
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Thanks Les
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Thanks both. So in my example, if the member hasn't had any previous bce he can take the entire £387k pcls tax-free, as the first slice of his lta under a bce6, with the balance crystallising into fad as bce1 with no lta excess charge?
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Ah okay thanks. So it's worded as a removal of the income tax exemption currently given to beneficiaries of a bce5c/d. I had read the draft legislation from start to finish more than once and didn't see it referenced, and clearly didn't pay eno…
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I read the legislation draft and recently said this to another person... In 637U of the draft, paragraph 3 states that: If no relevant benefit crystallisation event has occurred in relation to the individual before the current event, the …
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I heard it described as 'hyper charged autocomplete' in a youtube video discussing what the current AI really is. Basically, it is searching the entire of its database and picking the next word one word at a time. Iteratively, it will get better …
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Hi, The issue I think is less with the tax on the surrender and more with the IHT consequences of the gifts. Effectively, in your situation, the gift from one spouse to the other wouldn't be exempt as it is conditional on them being given the mon…
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Hi, The basic rate band gets extended by the amount of any grossed up pension and charity contributions. Relief at the higher rate is given on all income. It doesn't matter how much you extend the band over what income they have, because the c…
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I think that's the best way. The rules on all this are very simple. Unless you're in DB transfer world, there is very little in the way of prescriptive content for a suitability report. As Gareth says, clear and fair.
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The basic regulatory approach to this is first contained in the FSA thematic review into the quality of advice on pension switching, from way back in 2008. In it, you will find the following key wording: We assessed advice as unsuitable when the …
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Hi, This sounds like a very complicated situation and more information is needed. Yes, you can assign segments of a bond in trust to a beneficiary and the tax position is assessed on them (settlor living doesn't impact this). However, if the '…
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Hi Kelly, That is the whole market! It's not very competitive.
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Hi, My experience is that the third party material can be a very good supplement to what you get from the CII/PFS. If it wasn't aligned to the syllabus then the businesses would have failed years ago. Brand FT Wizard Learning Bespoke Trainin…
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Hi, The investment bond is a long term insurance contract and has 100% protection with no cap. The deposit account is subject to the £85,000 cap per individual but Beryl's claim is limited by her share of the joint ownership, which is £55,000 (i…
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I thought death benefits are all effectively treated as occurring immediately prior to death? The test doesn't happen until they are paid, but the the test is done as at date of death. This avoids timing death benefits from different schemes to mani…
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AF4, J10, J12. 70 credits and both J papers are FCA certified exams for advising on specific areas (namely DIM and direct shares)
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Mifid II aggregation rules allow you to simplify down to: * Service charges, and * Investment charges. This needs to be done for each wrapper. The actual costs (whether ex-ante or ex-post) must be shown as both percentage and monetary. …
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Hi Nitu, I was lucky when I first started. I got a 3 day pw contract with a firm for 6 months and another outsourced firm offered me some subcontracting work until I was on my way. But, the market was much smaller then than now, so I suspect gett…
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I think of AI like the internet and search engines. Did it kill off some businesses, for sure. Encyclopaedia sales probably aren't what they were 30 years ago, for example. But, fundamentally, the internet made most humans who could use its poten…
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If a member retains an 'employment link' to a DB scheme that's closed to future accrual eg a salary link, then the carve-out isn't applicable.
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IRR is a time weighted return and would give the same result as my calculation. XIRR allows for the timing of cashflows and is a money weighted return. With a fixed-term annuity you don't get any ongoing return on the premium paid. As soon as y…
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(((7920.6*5)+83135)/100,000)^(1/5) = 1.0418 = 4.2% (((4736*5)+104515)/100000)^(1/5) = 1.0509 = 5.1%
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Yeah that is what I ended up doing. Well, I didn't ignore them. Problem is there was another fund with transaction costs that weren't negative. And this creates an issue because obviously that figure on that fund is also exposed to the same calculat…