Nath
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Afternoon all Following on from my original post I wanted to bump this as we are now shortly going to advertise for a new position and wondered if anyone had any other tests or anything useful to use in the interview process. This will be the firs…
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Yeah we use Voyant GO to help with this. Has a Capacity for Loss insight that gives a specific number and % which helps clients understand. Benjamin, I quite like 'rightsizing'
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I try to use GO as much as possible now, but as Benjamin has said, there are still a number of items it can't handle. Some of the more advanced settings are still not on there. In addition, if you are not paying for the branded version, then ever…
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Same as Tom, built all out in a spreadsheet and put the pension in as a deferred pension. Only issue with this is that you can't slide the retirement date around as it won't work so be aware of this if using this route. I don't know of any others …
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Voyant cashflow software
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Hi Phil, welcome. I would say it does depend on the firm, but level 4 qualified is a good start. The paraplanning role as you say has moved on leaps and bounds in the last 5-10 years so although you may have the base technical knowledge expected, …
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Off topic but that's brave doing an AIM portfolio yourselves, especially if for IHT purposes as not all AIM stocks qualify so some serious DD will be needed!
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Hi Anna I too would be interested in the replies to this. I am just about to take over the 121/appraisals at our firm for our paraplanner and administrator. We have a current process but it could also do with improving. Each member has their o…
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Useful thanks all
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I use a combo of manual calcs initially then checking this via the Pru tapered/CF calculator and also the Cashcalc one. I find it easier to plug into the Pru one first to get each years taper/CF etc and then you can plug it all into the cashcalc on…
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Thank you both, very helpful!
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Not quite what I was after to be fair but thank you. Was looking for a real in depth one based on what type of cases, number of plans, complexity with IF formulas showing if you select a number of plans it puts set times in etc or type of case i.e …
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Yeah same for me with allocation, time is on my side so global equities all round. I've just gone cheap and simple with globally diversified trackers. Didnt want lifestrategy purely due to overweight UK exposure.
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Thanks for replying Andy. So you are definitely in the active/stock picking camp then based on those choices. What do you normally base your choices on and what allocations etc if you are choosing funds. Its interesting that you are putting all of y…
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They have calculated the emergency tax correctly. As Irene has mentioned it will be calculated on a month 1 basis so they are only using 1/12th of the allowance: So for £30K it would have been done as follows@ £1041.67 at 0% = £0 tax (being 1…
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Not sure if you are using cashflow but we use Voyant and this has many capacity for loss features to assess this vs the actual plan itself. Voyant Go also has a useful insight report showing the maximum loss the plan could take. We use FE and I ha…
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Very limited use (only 1 client on there) but still not a pleasant experience for us.
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Agree with Ben, sounds like he is churning as he is doing it purely because the clawback period has ended and for no other reason. Have the clients circumstances changed? Was the original policy ever suitable if its being replaced every few years?…
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@parawhat said: I've seen this type of practice in a number of firms. It's lazy financial planning in my opinion. From a compliance point of view, I'd be concerned about having a case on the books where we'd made the initial recommendation to tak…
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Thanks Jona. I saw a number of TIPs quite a few years back but first one in a while. I can't see any Chargeable Gains issues on the offshore bond as within the SIPP but couldn't find anything online. My thoughts exactly surrounding the AXA link…
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Thanks for clarifying @richallum
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@richallum I saw on twitter someone had called them to confirm if ER contributions were accepted and they said it was? Have you contacted them?
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It will be useful for a certain section of the market no doubt. Fees as expected low as well. Will be interesting to see what it offers from a drawdown perspective and not just the options but how functional it is.
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They all their own employee management charge usually but this might help: https://thepeoplespension.co.uk/compare-auto-enrolment-workplace-pensions/ If NEST just removed the 1.8% initial charge on regulars it would actually look okay!! I would i…
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I think the key with it especially when showing the impact on cashflows is the link to inflation in relation to the growth of assets. Our forecasts for cash in Voyant are 1.5% below inflation and for Pensions/Investments we go 1.5% above inflation …
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Do you use Voyant? There may be some limitations, but it should be able to plug in the numbers inc salary exchange and give you a clearer picture. I agree, first thoughts though no brainer to continue and get the employer conts. 75% of something …
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https://www.gov.uk/guidance/pension-schemes-protect-your-lifetime-allowance#check-your-existing-protection Follow this once set up and should be easy to find
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I agree with everything you are saying but we compare as per your second scenario showing the new transaction cost. We know its not like for like and unfair but this is the world we live in (and what a mess it is). As you say, the transaction cost…
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Yep Voyant does this and we have looked at this on many cases. Also with a view to taking more from the pension but being taxed on this from an income perspective but reducing the LTA charge. To be honest, there is not usually much in it and we ba…