TomLloyd_Read
Hi Stacey
The lady that co-ordinates the Qualification Mentoring Scheme is Gemma Warren - Gemma.Warren@cii.co.uk.
Good luck!
Tom
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@SimplyParaplanner said: Wow, makes you wonder how Abbey Life had financial trouble with charges like this! Because of the massive commissions they would have paid their sales force I guess!
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From the horses mouth (well, ChatGPT's!) No, ChatGPT is a tool that can assist paraplanners in their work, but it does not replace the role of human paraplanners. Whilst ChatGPT can generate text based on a given prompt, it lacks the ability to u…
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Also interested in this as we are doing the same. We also use VC (not sure if we need this with Xplan?) but if anyone has any insights in to the other integrations that would be useful - currently using Voyant/FE/Finametrica/Selectapension and proba…
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Have a look at Carla Langley's courses, I've done both DB courses and the SL course and they are excellent and well worth the cost. Last SL course for 2022 is tomorrow so maybe too late https://langley-consultancy.co.uk/super-suitability-reports!…
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Yes, that is correct, assuming it was a a discretionary trust. The settlor’s personal representatives will be responsible for paying any tax in the final tax return, but I believe they have a right to reclaim any tax they pay from the trustees (whi…
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Hi, in the accrual section, you can use the "Other" box and put in the accrual as a decimal- e.g. the NHS CARE scheme would have an accrual of 1.85 (1/54 * 100 - I think this is what you have to do but don't have access to the system right now to ch…
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It is technically correct as there is no intermediation between the adviser and the DFM (the DFM is a service, and not a Retail Investment Product). That said, many advisers are not applying VAT correctly where a DFM is concerned so it depends on t…
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Bit of a grey area indeed. There is a reasonable argument that if the MPS is an exempt service (albeit some of the DFM providers I understand have self-certified as exempt), then the advice could also be deemed to be exempt. There is a review of…
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To me there is very little difference for the client. Generally an MPS invests in lots of funds so you have a greater degree of investor protection, albeit that is probably not a major concern for most investors in vanilla UCITS funds. That said, w…
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Is it is certainly possible to do, but requires a good study plan. I'd also caveat that with just having four AF papers possibly means you will need to get extra points elsewhere so in some cases you may end up doing three exams at a time. AF5 ca…
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HI James For what its worth, in my previous firm we applied VAT to fees for AIFs (mostly initial fees for EIS) as I think we came to the the conclusion they they are not retail investment products so there has been no intermediation and no VAT ex…
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Hi Kelly Having just left the business, I know Canaccord Genuity Wealth Management offer the service, with various fee tariffs available. They have an intermediary team who would be able to point you in the right direction https://canaccordge…
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This is very good and will save you a heck of a lot of time. I have tested it numerous times to check it works and I haven't seen any issues to date. https://oldmutualwealth.co.uk/Adviser/literature-and-support/chargeable-events/income-tax-calcul…
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I think if you can get the same quality policy for a lower price, or a better policy for the same price, or a better policy for a lower price, or maybe even a much better policy for what the client perceives as an acceptable increase in cost (e.g be…
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Hi Andy Because the investment qualifies for a 100% business relief exemption, assuming it has been held for two years, it effectively has no transfer value, and therefore you can transfer whatever you like into the trust (i.e. you aren't limited…
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Hi Elaine The only real exception to what Caro says is if the trust is a flexible reversionary trust- the most common being the Canada Life International Wealth Preservation Account (although Quilter and IOMA also have versions of this). Whilst n…
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https://www.thepfs.org/news-insight/coronavirus-hub/articles/cii-ensures-candidates-can-be-assessed-and-stay-covid-19-safe/92341 Update from the PFS if you haven't seen it.
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Hi Conor We went through this process a couple of years back, with the option of our own templates and IO, or a report writing system. We chose to go with Genovo. This is how we looked at it: 1) Updates- if you choose a report writer these are…
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I am pretty sure there is no tax on surrender. We did a few of these arrangements a few years ago. It was not motivated by commission! We used a Dublin bond to avoid the VAT on the DFM portfolio; there were no initial charges for the bond and the…
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Hi Charlotte We have met Flagstone and Insignis. Both look better than Octopus in terms of rates and the number of banks they work with, but Octopus, given their size, probably represent less of a risk. Both work a little differently. It is so…
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For more junior paraplanners, we ask them to do a technical test and also give them an article to summarise in a technical bulletin email for advisers. I tend to try and find relatively long technical piece from Prudential/Standard Life etc and ask…
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Bit tricky now I think. Most of the schemes simply invest in the old single company structures e.g. Great Point Media (Illium), Puma EPS (Heritage), Triplepoint (Generations, Navigator). Whether these can be accessed outside of the discretionary str…
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All taxes built in are the biggest must. Planning tools e.g. Voyant's Insights and I am rather fond of Voyant's Monte Carlo simulation. That, along with the historic function, appear to be the only ways to model variable investment returns. The M…
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Again, depends on the firm. Generally speaking, as the fee earners they will be entitled to bonus but the metrics for deciding this will be very different in each firm.
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For admin and paraplanning staff, it all depends and each firm will have their own take on it, much like any other industry. I've tended to work for firms that have paid a bonus, although it has varied from purely discretionary to a structured annua…
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Totally agree, I did J10 and AF4 but stupidly didn't do J12 and rather regret this, particularly as it was three years ago and I'd need to get my study head back on...
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I like the Monte Carlo tool for stress testing comparison plans e.g. DB transfer or not, gift £X or not. I think this is really useful when a client is making irrevocable decisions. The quick life assurance and income protection tools are good, as i…
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I trialed it and thought it was really very good. Some areas are equivalent or better than Voyant, particularly explaining what the charts are showing. I did find it a bit fiddly in parts but I suspect this is more to do with my familiarity with Voy…
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I think it is a no brainer to do AF1 and JO2 together. In the RO papers, trusts are only dealt with very lightly and you will potentially need to know a great deal more for AF1. For example, my colleague took AF1 and the vast majority of it was t…
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We use these guys. They are based in Manchester (we are in London) but all contact is via phone and our clients have been happy with the service they have received. They've also been happy to provide CPD and updates to advisers in our office. htt…