parawhat
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This is about the only reference I can find from the ICO regarding sending personal data by post. It's a little old (2014), but it is basically saying postal services aren't data processors and therefore the data controller (i.e. the IFA firm) would…
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I'd say yes @arongunningham because would include date of birth, NI number, policy numbers, provider name etc. We'd send that using securemail.
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@benjaminfabi Haha! Thinking this through. If something went missing in the post, say a suitability report and application pack that contained multiple instances of 'personal data' (some potentially sensitive), would that be reportable as a breac…
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That's a tough one. Wracked my brains and can't come up with much that doesn't sound just as naff!: * Opportunity Assessment (why not flip 'risk' on it's head!?) * Risk vs Reward Assessment * Are you a bull or a bear? * Investment Port…
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We use Micap too, backed up by any Allenbridge/Churchill where available.
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@benjaminfabi I'm not sure it does as I also can't find anything specific from ICO referencing sending personal data via post as @arongunningham also observes. However, the compliance feedback we're getting seems to be pointing in the direction of s…
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Thought I'd tag onto this thread as similar issue. We're in the process of setting up a GIA within an offshore bond wrapper, but the platform concerned don't offer a 'gross' GIA so we're just trying to get to the bottom of the mechanics of how the …
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Awful. Had to use it whilst working for an Intrinsic member firm. It just wasn't very intuitive and seemed to me to be more suited to very transactional type business models (which might be what you're after!). I certainly wouldn't move from iO to …
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I can see the benefit of aggregating across, say, GIA and ISA. In fact I did one myself earlier, so I think I take back my earlier view! ;-) However, I'm not sure I see what benefit the client would get from seeing aggregated costs across SIPP lump…
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@Suse1969 we do a separate cost comparison for each product. I don't think you can aggregate across different products. At a push, I reckon you could argue aggregating across ISA & GIA on same platform, but beyond that probably not. What we do s…
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In terms of other research, assuming they are not already part of the firms centralised investment proposition (CIP) - which it sounds like they aren't - then you'd have to treat this as a standalone case. In which case you need to have research on …
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In the spirit of sharing here is the one I came up with. This is slightly different than @benjaminfabi and @arongunningham versions as mine is based on a fixed set of model portfolios as we were finding we were just keying in the same info multiple…
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You could sign up for one of the many CPD type tools and/or just get them to study/sit exams, starting with something like CF1. Not going to do their CV any harm.
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If that's the case that actually makes it easier - at least we know where we stand! The problem, as you pointed out, is getting the necessary information from said DFMs to be able to do the disclosure in the first place!
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Good summary @arongunningham and so true about advisers and paraplanners! * When the ceding scheme is a PP and we're transferring to a SIPP, you move from non-MIFID regs to MIFID regs. You can't find the transaction costs for the pension funds -- …
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Yeah, I’ve seen that providers have been quoting charges in monetary terms for “subsequent years”, but IMHO, in the absence of a crystal ball, this is at best confusing and at worst wholly misleading - so many assumptions are having to be made to ca…
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I can't help but think we're all missing a trick somewhere with all this and it will all suddenly become clear... Hey ho. In reply to @edevan5 I've reattached your example with some comments.
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Hi Poppy I'm not sure external admin training would add much value. As you say, I think 1 to 1 training is the way to go because every firm will have its own workflows and ways of using different bits of software. Do you use a backoffice system? I…
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Good spreadsheet Aron. Interesting that you're amalgamating multiple products into a single table. Any reason for this as we've taken the approach to do a separate table for each product (e.g. each ISA, GIA, SIPP)? I'd assumed (perhaps wrongly) tha…
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You have to login, but it's here: https://www.investcentre.co.uk/Secure/Adviser/CostCalculator/
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Hi Hannah We've been doing a similar table to you in the suitability report, but probably keeping it a little simpler. We've then been backing that up by using the specific tool AJ Bell have built that spits out a standalone costs and charges discl…
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Hi Jona. Yes and this is something I'm currently looking to put in place shortly. Happy to have a chat to discuss as got a few ideas but always good to share.
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Hi Will Always glad to see more Northerners on here! ;-)
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Client Support (administrators) and Technical Support (paraplanners) seems to be quite popular and kinda work well together.
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DM me your email address if you want to have a play with my CGT calculator and see if that helps you any.
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Hi Luis If it's a single holding it's not too bad, but if multiple funds within a portfolio it can be a bit of a nightmare! It also depends on how complicated you want to make it. What I mean by that is if you follow the rules to the letter the cal…
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The issue with case by case, or fixed fee, charging is that you need to build in enough margin to be able to cope with those tricky cases that end up taking much longer than all the others. It's also difficult to say that for a pension switching cas…
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I did quite a bit of research into this area a couple of years ago for a firm that needed to do similarly complex calculations i.e. accurately take into account Section 104 holdings, notional distributions on Acc units, equalisation, share class swi…
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It's difficult. Part of the problem I think is the more experienced paraplanners will probably already have done their research on you. They'll have a shortlist in their mind of the firms in their area that they'd only consider moving for. You've go…
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Remembered (Evernote to the rescue!): https://savingschampion.co.uk/