arongunningham
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Yep, seems so. It's an-ever decreasing scenario though as 2006 gets further away.
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I don't know. But I think i'd say you're right - it's simply 25x10 this year. Presumably the client had a bridge to SPA or something (explaining the drop)?
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Genovo is probably the best, as far as I know. We looked at it and in the end preferred, ultimately, to retain our own templates. We felt we'd probably end up taking the 'wizard' approach off Genovo and then changing bits and pieces to suit our nee…
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@Jona said: Here it is - https://www.pruadviser.co.uk/tools-calculators/about-collectives-v-bonds-calculator/ Yeah thanks this is handy, I've used it before. The issue with that is it doesn't include the ongoing charges of each - but w…
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The cost comparison, i'd like to learn more about. You maybe (and I'm not sure if it's even true) pay more for offshore but have the benefit of gross roll up. These two factors can probably be compared side by side and provide a net benefit onsh…
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This is only relevant though when the transfer is from DB to DC and old RACs to new PPs, right?
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I had one recently, I forget the fund manager, where the records didn't go far back enough to show when the fund was purchased and/or the cost price. We had to guesstimate the purchase date and manually look up the cost price on that day. Thei…
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Reporting is the same onshore and offshore isn't it?
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@benjaminfabi said: Hi Patrick Offshore should perhaps be the default option for discretionary trusts that include child beneficiaries, Why's that?
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What I most struggle with is implementing cash flow models into an advice report. Voyant, for example, leaves you with 30-odd reports/charts (at a guess) and so I struggle to identify what's best to include in the body of the report and how much …
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@benjaminfabi said: The real value here is going to be initiating the conversations that make the clients think about that remote possibility, and what happens to kids and assets if it does. There is also work on providing additional financial su…
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yep... it's a zero sum game. So further to my initial enquiry, we've since decided it's not really worth the aggro and complications of setting up a trust. If they died together the money goes into probate, so the only downside is the time fac…
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@Nathan said: Joint Life second death for £500k is £110 per month Single Life for £500k is £50.83 each So its more cost effective to both do single life. Single Lives totalled £77.80 pm Joint Life was £60.09
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Won't you need to buy £1m cover for a £500k mortgage?
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Well it's for those who have a car accident (for example) and one spouse lives a few more days. I think that's why the clause was introduced. The trust is designed to pay the beneficiaries if both settlors die, as you'd expect, but with the provi…
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Here's the guide L&G pointed me to: https://www.legalandgeneral.com/library/protection/taxation-and-trusts/W13397.pdf
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My understanding is that if both spouses die together it would effectively bypass the survivor (the younger of the spouses) and go direct to the beneficiaries. The 30 day rule is to ensure, as morbid as it is, that one of them doesn't die a few d…
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I believe one of the Big Two work with Tenet Advisers, but I could be wrong and don't want to promote the enemy
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I was AFK yesterday, but watched the repeat last night. I just want to say thank you for this, it was great!
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Thank you @benjaminfabi
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has anyone been sent their CPD for this yet?
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oh yeah! The ‘hurdle rate’ is the annual investment return required after charges, to provide a capital sum sufficient to purchase a single life level annuity, with no guarantee period that matches the initial level of scheme pension payable from…
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I think AKG are the go-to place, but they cost a bomb so probably not practical?
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In my experience JISA's will only allow prescribed investments (i.e. a range of 3/5 funds) - is that not the case with some providers?
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as above plus Old Mutual Int
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TBH I can't actually remember a DB case, let alone a do not transfer case. I should never have got involved in this LOL It's Friday
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It definitely is a grey area. We charge VAT for anything that isn't Pension or Bond, whether we implement or not, since 99/100 we use a DFM. Anything pension or bond related we do not.
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But those are steps you intend to carry out for the client as part of your initial engagement, hence it says regardless of whether the sale of the product is finally concluded.
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@TomLloyd_Read said: It is only where intermediation takes place that it becomes VAT exempt because there is an introduction to a VAT exempt product. I think this is incorrect. It's also factually wrong since a SIPP isn't a VAT exempt pro…
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No VAT if at the initial engagement it is assumed your firm will supply the intermediation if it was advised to transfer.