benjaminfabi
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@arongunningham thanks for uploading that document. I agree with you that it isn't compliant with mifid because it doesn't include the effect of the charges.
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Well I've been sufficiently baited into reading the document in the OP and also PS18/14! In relation to chapter 5 in PS18/14 on Conduct Rules (which the current CP is trying to 'optimise' #marketing): Yes this will apply to almost every e…
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I don't see how an outsourced paraplanner could ever be subject to it? You can't outsource the responsibility for a function. Can you think of a specific example of something an in-house paraplanner might do that would give rise to the need for c…
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I frequently miss that button And thanks
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No worries. Also occurred to me that the trustees could still release cash to meet the IHT if it is for the benefits of the beneficiaries
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Hi There is certainly a potential for the life assurance to have a value on entry into the trust if the client has a terminal diagnosis. One way to test this is to ask if she qualifies for the payment of the sum assured under the policy while she…
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Hi Aron In simple terms you should be able to use the asset value on 5/4/17 as the base cost. But in reality, it's not that simple because there are qualifying requirements to be able to benefit. The cleansing and rebasing rules are complex, t…
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Also, I think this is aimed at the sole trader who has, over the last few years, had to employ people to do some of the work. Tech will help this business model revert to one where that adviser can do it all. If you are a sole trader then your in…
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That looks like the product that Partnership (now Just) used to have. Also Retirement Advantage (now Canada Life) still have. I love the idea of these products but sadly they don't seem to ever get traction with advisers.
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Hi Andy I'd use exactly the same benefits you'd use for a new cash investment into a S&S ISA, plus: Recommended plan will keep the ISA tax status Potential for wider use of tax benefits as CGT won't be charged on investment gains I'd use…
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Plus one for Harvest, for tracking time though, not for workflow management. I've been using it since I started my business and the MI I have is superb. It will definitely meet your need to understand how long a case takes. It isn't free though. …
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@Andy_Schleider Employer contributions aren't restricted to the NRE of the member, but the member will still pay an AA tax charge on the value of all contributions in excess of the available AA. @arongunningham pensions in payment are fine if the…
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@Jamie_Barnes this is a great feature that I had no idea about. I've just used it to create a tab in existing workbooks I have that calculate weighted average charges for an adviser's entire model portfolio range, plus it will give me the 1, 3 and 5…
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Awesome. Top post @Jamie_Barnes
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I can confidently answer on behalf of everyone to say that we are all interested in this! Maybe a new thread though
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This was posted yesterday and I thought it would be a useful addition to the thread. https://ofdollarsanddata.com/how-to-invest-a-lump-sum/ Also this research from UBS.
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Notwithstanding any elements of the mifid suitability disclosures in 9A.3 Which is basically the full works, less any elements that can be referred back to the initial recommendation. In the case of a fund switch, unless you knew what fun…
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@Yonkers420 It depends on whether you are operating the portfolio with discretion. If you aren't then every rebalance/fund switch is a trigger point for a periodic suitability assessment and the relevant disclosure that go with it. Almost certa…
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Everything that you would put in a suitability report.
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Basically, everything in COBS 9A applies if you are providing 'investment advice', which is defined as: "the provision of personal recommendations to a client, either upon the client’s request or at the initiative of the firm, in respect of one o…
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Thanks @Jamie_Barnes
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@richardgough said: It's extremely useful; been using it for a few years. Did you know that you can also transfer portfolio data from a Transact client into FE either at wrapper level or at all fund level? (I've no idea if this can be done with o…
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Hi, I'd use 'secure income products', which would include compulsory and purchase life annuities, and fixed return structured deposits (ie capital guaranteed). Then a description of the target market that it will/won't suit. I'd shamelessly st…
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Hi @Mattclegg The offshore bond is an insurance-based investment product and therefore subject to IDD. As I understand it, you have no reporting requirements under MiFID II for this investment, regardless of the underlying investments. However…
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I thought we were in agreement? Also agree with everything in Dan's PS - I'd be making a comment in the report asking how he is building up state pension.
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Hi @luisamato All* pensions are out of scope for MiFID II and, as I understand it, IDD. (*there are some that are in-scope but don't worry about those.) For MiFID, this is principally because under the scheme rules of any pension, the member …
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OMW is good. Standard Life also. I've used both. But nothing beats a goal seek spreadsheet
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This looks like a good avenue for enquiries,great links Dan!
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Hi, How the scheme calculates the pension entitlement at the opening and closing of the PIP is determined by the scheme rules. They can base accrual on any salary basis they want, from any time period and at any date, as long as it is in the rule…
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Hi Colin Fixed Protection has been lost. HMRC is correct. Relevant Accrual has occurred Responsibility The member is responsible for testing for benefit accrual because they have made a signed the declaration to this effect when they applied …