benjaminfabi
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Adding a bit more to this... A life/pension office will create an insured 'mirror' fund so that it can deliver the returns of the fund but apply its own pricing structure within a particular product. So you will often see multiple series numbers as …
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Hi Conor I have found this to be one of the most challenging aspects of the job. It is so difficult to establish how and when benefit entitlements can be impacted by advice on withdrawals. I tread very carefully and in previous employed roles h…
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Your second scenario is the technically correct one. I don't focus on the percentages. Provide the difference in monetary terms and separate the mifid transaction costs in the Elevate plan. "based on a constant value of £xx over a full ye…
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I agree with @Clare_Weight I mainly bespoke the wording on investment experience. It can be useful to include a checklist in the rpq for the client to fill in. I have a couple of advisers use this. Asking if they've ever invested in the …
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Ultimately, if you don't have unit costs, then the total investment amount (usually more easily established) and the current value is how you're going to account for the tax and @richardgough is right to suggest adding up the book costs. @arongun…
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Second vote for Bridget at Wards. She knows what we do and although my ToB is heavier than I'd ideally like, I've never had a challenge on it and I'm confident in the security it gives me. I also don't have PI, but I do understand the position o…
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My view on this is (fairly) straightforward: * I agree that the outcome of negative trading costs is unrealistic and arises from the calculation methodology. * But the aggregated costs (OCF plus TCs plus Incidentals) are very rarely negative o…
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I agree with Nathan on this. I have had a few cases. It's always client specific ie there isn't a golden rule, and ultimately it can take a lot of work to calculate the different outcomes, all of which tend to do little more than move the tax liabil…
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Here's the PTM page to support Aron's reply. https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm063230 Note that the scheme has to be able to facilitate the payment post 75 and this isn't a given.
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You are correct @Charplan @dommytayla please refer to the sticky threads at the top of the discussion board homepage for information on licensed materials, thanks
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https://thebigtent.paraplannerspowwow.co.uk/discussion/1021/pi-insurance-to-have-or-not-to-have#latest No provider recommendations here but a useful thread on general opinion of having PI.
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AF4 goes with J10 and J12. You get 70 credits from one study text, plus the two J papers are both FCA 'appropriate qualifications' for the purposes of DFM and stockbroking respectively. No brainer (especially if someone else is paying!). I did AF4 t…
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Happy to chat offline 👍
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Yes just that usually. Also, I don't always include the table if it's not the main driver and the new plan is significantly cheaper. In that case the file would still have the calculations but the report would just have a statement saying that switc…
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If you think about how the software providers calculate RIY they're calculated over the term of the plan. A 2% initial charge over ten years adds _about_ 0.2% to a selectapension/O&M RIY. I don't see my method as being materially different.…
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Best bet is to get the client to create a Gateway account and use that service to see what they can pay. Otherwise you're guessing. Here's the wording I use for this situation: You must be eligible to pay voluntary National Insurance contribut…
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I have a table that does basically what Nathan has said: Cost description Product Investment Costs of initial advice Total solution cost Cost of ongoing service Overall costs The costs of initial advice are a straight line depreciatio…
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> @Nathan said: > Aviva doesn't have that functionality. What, the functionality of being compliant with the mifid ii ex-post disclosure rules that came in nearly two years ago?
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Pretty much what Becca said, but I don't spend any time on getting monthly values. Simple annual average (life is too short!) Excel formula (where named items are obtained elsewhere. Ongoing-fund-costs * AVERAGE(opening-value,closing-value) * …
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Venngage looks nice! But not having the option to export in the free version is nasty! Check out Visme as an alternative. Also, could you spend some time designing (stealing) something from either of those in Publisher?
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Correct. 20 years is only relevant for the 5% tax deferred withdrawal.
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When Santander start to charge you you'll have a minimum monthly fee of £7.50 on all four accounts?
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No, PROD is a governance process happening behind the scenes. Plus, really, it's only putting formal rules around what should already be done.
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TP Link Powerline adapters, assuming you're on the same MCB, or any additional one doesn't break the connection needed for them to work. Used them for years as a substitute for a CAT5 network throughout the house. A separate line is an unneces…
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Natwest. Free for 18 months and gives you Freeagent accounting software for free, which saves me £40 odd a month plus who knows how much time invoicing and managing accounts?
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It depends. We could be looking at your ISA's fund charges. You might have several ISAs. So we could look at your ISAs' fund charges. The apostrophe needs to be used correctly.
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I like Clare's answer
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Problem with using percentages is that the rounding down under-values the amount used. If you have a couple of bce this isn't a big issue but if you have phased FAD over ten years it can stack up.
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The amount crystallised is revalued by the increase in the LTA between BCEs. In your example £400,000/£1,400,000 = 28.57% CPI at 2.5% for ten years makes the assumed LTA £1,792,118. The revalued BCE from age 65 is £400,000*(1,792,118/1,400,00…
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I charge mostly per case too, but you can't know what to charge without accurately understanding how much time it takes you to do, in my opinion. My simple formula is: What net income and retained profit I want to achieve, converted to required t…