arongunningham
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Where's the best place to look at the rules (which Trusts have to register) from an IFA perspective?
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Beneficary Lifetime allowance: The only LTA test is on the member, not their beneficiary. So it doesn't matter what their own position is (they will have to pay income tax on withdrawals however). Pension contributions post age 75: yes
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Begrudgingly, yes, when it's a client in drawdown: Since writing my original report, the FCA has conducted a review of retirement outcomes. As a result, from February 2021, pension providers (such as AJ Bell) are required to offer four investmen…
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yeah sounds possible. Have they deferred?
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My understanding is that the employer can force the employee to pay ER NI, so I think it depends what the agreement is between the two?
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30912-21402 * 15 = £142,650 (is the shorthand method I would use, which evidently doesn't work out perfectly)
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The CF is 15. *plays Eastenders theme tune
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@Andy_Schleider said: I would say 15, and it works back the other way too (using 15 as the CF) Was that using the shorthand method or the full-fat method?
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Try this one (real example): Max Pension - 30,912 or Lump sum - 142,671 Pension - 21,401 I know the CF, but what would you calculate this as? (I should say i'm not questioning anyone's methods here, i'm just an interested bystander!)
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I have a headache. I can't see how @Calvert76 calculations don't work. Do they work if the lump sum is below Max TFC?
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We don't use it. We have a CIP and provider panel that can facilitate it. We do DD on the providers individually at company level, and cost analysis each time we do a recommendation. EDIT: And the reason is precisely the problem you've rais…
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just to add my 2 pennys. If your main CIP is DFM's, you might also want to consider accessing them directly from the fund manager - it might be cheaper. Works for GIA and ISA in the most-part, so will need Pensions and Bonds from a third party.
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I work for an accountancy firm and I they do charge for their time on the phone to 3rd parties. You are working for the client during this time (if they did it themselves it would cost more, unless they did have someone to do this for them as Caro m…
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I was referring to the investment transparency. I don't know if it's the same everywhere, but we and our clients can log into the XYZ DFM and see their portfolio, its value, and the transactions. With a MAF you cannot. Best you can see is a fund …
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@benjaminfabi said: Ownership. Unfortunately it's nothing like as straightforward as Aron has suggested and depends on, among other things, the tax wrapper and the commercial arrangements between the fund manager, the DIM, the adviser and the p…
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The key advantage of MPS is that there is a clear view of what's being invested. The client is investing in the underlying holdings directly (they're just patched together into a portfolio by the DFM). There is also usually a wider range of investme…
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Hi there, @T_Smith - some observations which may help: * I believe yes you will need to disclose costs and charges. If you are recommending a new investment to someone, they will be need to be advised of a fund switch (as opposed to it being c…
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Parmenion do provide a feed on FE Analytics, but unfortunately it's not one I have access to myself. Within Analytics there's a section called Portfolio Tools > MPS Directory. From here you can click on Parmenion and request access. Generally,…
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which MPS is it (including the specific risk level)? And what date range are you looking at?
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Appears a waste of money to me. But if you have money to waste, go for it!
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I stopped at Level 4 and it's been a regret ever since (8 years) that I didn't continue. I'm not sure how much harder the exams are, and whether industry experience would be better first, but I just find it to be a huge mountain to climb, mentall…
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Hi Josh, Are there plans to integrate ESG questions into Dynamic Planner at all?
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Deposit Sense here. There's an update today if you wanted the latest info! Trust Accounts: Scottish Building Society - Instant (0.30%) United Trust Bank - 1 Year (1%) Hodge Bank - 3 year (0.96%) Cambridge & Counties - 5 year (1.40%) …
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Does Volume allow you to email the document via Outlook and/or even secure the document first and add it to a client portal? That's what's missing from IO documents (the ability to email it without downloading it first).
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I think this is the one I watched: https://techzone.adviserzone.com/anon/public/investment/webinar-top-slicing-relief
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As i say, i think it would be quite harsh to give you a question where you need to consider the savings rules AND the reducing PA , it'll usually be one or the other at this level. plus you definitely wont forget it now
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If the answer to the income tax question is £33,300, I highly doubt you'll be asked this in RO3 because there's a couple of elements you would need to manage to get the answer 1) you need to know that savings income will have an extra £500 allowa…
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I think the 2nd question is £33,300 Using an online calculator I entered £110,000 with an additional £500 allowance for the savings interest. I stand to be corrected though!
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sorry!
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We send the client a letter to send to PAYE. I think if you act as a agent it would be to complete a self-assessment. It's unlikely to be worthwhile for you or the client to fall into self-assessment world if this is the only reason. The body …