arongunningham
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Post 88 GMP will increase in retirement though, I thought?
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I think the benefit to the client is they're provided with 1 table rather 2 or 3. I guess the only thing that changes with having separate tables is the product wrapper costs - advice and investment costs are likely to be the same, so in my opinio…
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my 2 pennys: You can aggregate across products in as much as you are giving advice to a client across a number of products and that it's the total costs 'to the client' that we're being asked to provide an aggregate. We keep a spreadsheet of the br…
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Franking machine and someone comes round to pick it up
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Here's mine, a bit further developed that previous. The only snag now is whether we need to compound the effects of charges?
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Does anyone have other examples of the 'cumulative effects of costs and charges'. I've had a question from an adviser if it's worth the hassle of trying to identify and show the compounding of the portfolio in this illustration? I like it having c…
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Sure, that's what I meant by green-lit. If you're using threesixty's DFM list as your panel (rightly or wrongly) then you don't need to do any more research to narrow that list down. Your job is done for you. In reality, threesixty will tell you t…
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By the way, how did you get to 8 - was it from a list like this and seeing who is reviewed on 360? https://www.investcentre.co.uk/investment-partners
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If you're 'using' threesixty, I assume you mean you're using them as a green-lit panel. So you have the ability to use any of the 8 without doing any research. You will just need to decide which is most appropriate for the client's needs. Some DF…
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parawhat said: I wouldn't be as concerned with DFM recommendations as my view would be the onus to disclose falls on them and not the IFA, especially when you consider that technically we wouldn't know what funds they are actually going to end …
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This is going to be an ongoing struggle between advisers and paraplanners. Advisers (being stereotypical) don't want to highlight all these 'new' charges whilst Paraplanners (being stereotypical) are trying to tell Advisers that we have to, it's not…
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Can't say I've seen anything concrete. Trouble is, the Paraplanner role has evolved (and is still doing so), so the definition varies depending on who you ask.
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As an aside, are any paraplanner here experiencing push-back from advisers to not fully disclose these hidden transaction costs?
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Right. What the company are doing paying for an individual's personal financial advice is another matter. Presumably. we're talking about a small company and maybe it's the director/owner who's receiving the advice. There is an allowance for a fir…
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I would argue that the reason you can't find the answer is because the bill-payer is irrelevant. So long as the advice process qualifies for exemption, happy days. But I wouldn't be able to commit to this in a court of law, so don't quote me on it!
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You don't really have a choice but to do R06 revision last minute. As I recall you get the case studies the exam will be based on 2 weeks prior. At which point I bought guidance from Verridian or Brand to help find the potential questions and answ…
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I think you assess the whole of market as a company who produce a short-listed panel you work from on each case?
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StuartBFM said: Incidentally, feedback from the nine clients to have received a post disclosure has been pretty much meh. Hours of work and many more thinking about it and they really aren't interested. Yeah, i've had similar conversati…
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I thought, probably too simplistically, you'd log in to a provider and ex-post costs are there for the previous 12 months, on a rolling day-by-day basis?
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Thanks @benjaminfabi Our solutions are 99/100 utilising DFMs. We've found them to be woefully unprepared for MIFID II. Therefore, without proper '50(10)' investment proposals, we've taken to including some of that data off our own back. The cumul…
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@parawhat I don't know if it's necessarily 'per the rules' to lay out the table the way we have, but my personal view is that we're a) trying to keep it all understandable for the client, and b) we are providing 'the solution' and this, overall, co…
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Hi, Here we go, I think I've fixed most of those points - thank you for pointing them out. The initial costs was a brain-fart on my part, for sure it needs to come off on day 1. I couldn't work out how to automate that part, so you have a box wher…
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Rebecca_Tuck said: Hi @arongunningham - I've had a play with a one-off investment of £200k, running the same info via a Transact illustration, and there's a couple of things I wouldn't mind checking with you? - it looks like there's a cell ref…
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Here we go! It's designed for our default model of one investment solution across a number of products. That solution is most commonly a DFM too. It allows for up to 3 products although it wouldn't be too hard to add more. The 2nd tab is 'on bra…
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Can we add attachments on this forum? I'd quite like to show you the solution we've made for this (excel). Mostly so you can tell me where it's wrong!
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We don't have access yet, but looking forward to checking it out
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Where is this, sorry. I'm being simple I know. I can't see where that screengrab you posted would be (to see if I have access to it yet)