Nath
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- Nath
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Perfect thank you all!!
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Yes this makes sense thank you.
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Thanks for the reply. So do you also think he could take £312,500 from the £500,000 SIPP or that he would be limited to 25% of this? Hopefully we will also get a few more replies to really nail this down and thanks for answering. N
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Same as Tim. We use Voyant to model sustainable withdrawal rates for our clients and include crash scenarios and the monte carlo simluations on occasion. Each client will be different, its difficult to have a particular safe withdrawal rate across…
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Thanks for replying, appreciated.
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Thanks Tim, yeah it makes sense to me as the client will still have all LTA available from a PCLS perspective if he takes SIPP first.
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Remember its not just OCF's you need to be comparing under MiFID. If you have FE, this will do it all for you or if not build a spreadsheet as the poster mentions above. How do you currently do it as its needed for all switches/transfers?
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For someone to be investing for 26 years, even at those charges, it is criminal that they have actually lost money. Just not fit for purpose.
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Ah perhaps that might change things then. Maybe best for them to run it past their compliance support and go from there. Even if you don't have to compare old vs new, I would still expect advice to be given on the new home for the clients but comp…
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My understanding is also that Vitality Invest will remain open for existing clients but closed to new biz last year. Not sure where the deadline comes from? Perhaps they just want to move ASAP especially if paying in regulars or the firm you are w…
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Hi Andy As far as I am aware advice has to be given to each and every client. Obviously, some standard wording can be used and I am sure if new solutions are similar then a lot of templating in these areas would help, however, my understanding i…
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No problem at all!
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The Next Gen planners training programme is one that one of our colleagues used. Very worthwhile and deals with technical side and soft skills training etc.
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I have dealt with a number of Offshore bond providersover the years and Utmost are by far and away the best service. Forms easily available, quick calcs provided, online system good. Difficult to fault them really. We had an assignment and surren…
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2 of our advisers have completed AF8 and using Voyant is 100% acceptable.
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Ah yes I see. Thanks for clarifying Les. Thanks Maddy too Luckily nowhere near LTA issues but just wanted this one clarified for my own piece of mind. Have a good weekend all!
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On that basis and that Clerical Medical will surely be buying the annnuity to pay the GMP, it would be the £131K I suppose.
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Yes going to draw GMP from the Section 32. Yeah perhaps the x 20 GMP, as if it was still in the DB scheme. Just thought I would check though but can't find anything online. It won't impact him at all but just for my own info really.
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I'm talking to myself now but my guess is the £131K as that's the cost to provide it.
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Total sense yep. I shouldn't have just jumped into a spreadsheet that I had used for the alternative scenario you mentioned and should have thought it through more Cheers Benjamin, have a good weekend!
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I'm guessing as I'm using the XIRR which takes the cashflow dates into account vs IRR which doesn't?
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I just chucked together a basic XIRR function on excel to look at it...what have I done wrong Ben ha ha!! Attached for you to tear apart No fancy template just quickly chucked in the figures and XIRR
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@richallum yeah, I was rushing and did £85,135 as the maturity value not £83,135. 4.86% on my top option, but still 5.54% on the option below. Did that match yours?....I just used the XIRR function in excel.
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I would ignore the negative transaction costs and probably just go with 0.25% to be on the safe side to be honest.
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It doesn't show the ex-ante/Mifid costs though and only OCFs. That's an issue in this day and age. However, you can compare the 2 x portfolios on the Ex-Ante Calculator instead which does show all costs.
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I think the figures might be a typo. Just ran one myself....65 year old, 63 year old wife. 100% joint annuity and the 2 options as follows: * £7920.60 for 5 years with a guaranteed maturity value of £83,135. Or * £4,736 for 5 years with a…
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Am I missing something here? £100,000 annuity purchased...you get back £3,857 per annum for 5 years level which is £19,285. Then you get back £80,715. That is an IRR of 0% in my book. It would be the same if it was in a bank and just drawing on …
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Don't blame you for avoiding Curtis Banks and James Hay....both shocking service nowadays!
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I would say run over any areas from previous units that you need to freshen up on, prior to the case study coming out. Then as you say, get a couple of the Brand/Expert pension guides for the specific case study and just smash these over the 2 week…