richallum
Can't remember what this box is for.
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- richallum
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Have a look at Truth & Voyant if you want stochastic. You could also consider Timeline - not a CF tool but you might find it useful with retirement planning.
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Would like to see the technical notes on BR. We have some clients with L&C Open Annuities from early 2000's. They use the protected cell concept but there's never been any mention of BR. Not had a death yet so it's not been tested.
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Speak to Dominika at https://rie.solutions/ She has done the above for our business and also several IFA firms (some are clients or ours and some not). She's damn good.
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701/49 is a good read. The interpretation of "whole" is where the issue really is. Every time I've sought professional advice on this it's been that we're not exempt. Would be very happy to be proved wrong on that. It's up for us to review again wit…
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@benjaminfabi playing devil's advocate on that argument, does that mean that software support, electricity, office space, compliance support etc that went into that pension switch report - all services needed to produce it - should be exempt from VA…
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@Sam They'd all rather not pay it and I'd rather not charge it but never had a problem. The law says we're tax collectors and that's that. Some firms do charge VAT for non intermediated services.
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BTW, thanks for coming yesterday @Sam
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There is 1 firm that believes paraplanning is exempt. I'm pretty sure every other firm I know believes it's a VATable service. I've taken professional advice on this more than once over the years. We have always charged VAT and still do.
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@Gustavo_Fring in that case speak with Dominika. She works with Brett who is more big picture business planning while Dominika is more business management, practical.
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if genovo isn't right for you have a look at https://www.atebsuitability.co.uk/
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Thanks @Jona
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If it's primarily on the back office (i.e. paraplanning/admin) side of things then we provide that service. If it's bigger picture than that, I've worked with several of the main well known ones either directly on my business or indirectly when t…
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CashCalc is great value for all the tools it gives. We use XPlan for anything other than simple cash flows especially DB work due to the tax. I think I saw Ray say that he's looking at tax. If they add that and do it well (which I'm sure they will) …
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I thought you could only have GO as an add on to the main kit, is it now available on its own?
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Nuance was more sophisticated with complex system commands etc but it never quite worked 100%. It also messed up my machine quite often. They also don't support Mac now so that's that! Apple/Google much lower barrier to entry and easier to use. Much…
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I used Nuance Dragon for a while. It takes a lot of training to get right and I still found it needed lots of correcting. I used it for dictating freeform text mixed with typing when it got a bit technical (it never got ISA for example). I've sin…
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So many potential issues with this. PI, risk, conflict with advisers etc. There are non-reg financial coaches out there doing this but it's their main business and focus. Have a look at https://financial-coaching.co.uk/ I wouldn't go near it.
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We're similar to @benjaminfabi with those 'hygiene' factors. We've got an 'ideal client profile' and our due diligence is mainly to see if they fit that to make sure that both sides will benefit from the partnership.
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We use CashCalc and like it but not for APTA. I'd struggle basing such a high risk bit of advice on the output from a tool that doesn't take tax fully into account automatically. With DB cases the cost of the most suitable software shouldn't really …
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@Jona said: Is one way @arongunningham or without DIM; portfolio changes can be rebalanced into at next adviser led engagement when the clients agreement is obtained. That's what we're looking at for now. Companies that provide the resear…
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Good points by @edevan5 It depends on their licence agreement. If you're using it in your capacity as fulfilling a contract exclusively for the adviser then it should be OK. Need to check though. One other thing to look out for, once you tell a soft…
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@Suse1969 first thought is that LTA protection is lost with additional accrual not by taking benefits so can't see any problem with that. Am I missing something?
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@arongunningham at a simple level, provider of this service will: * create risk rated asset allocation models * research and select funds to fill above * provide research material for adviser * provide fact sheets * update/rebalance the abo…
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Bottom line for me is we have it because we provide advice to our clients as our service and we need to stand by it. It's not because you need it but because as a responsible business you should have it, in my current opinion.
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@benjaminfabi I've been happily saying no and satisfactorily answering any questions for more than 10 years but things change. I'd say it's now 50/50. Based on what I think might happen in the PI world, (especially with DB) if any adviser puts in…
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We use IRESS for business protection too.
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You don't have a liability to the end client but you do have a liability to your client, the adviser. We hired a superb solicitor to do our TOB and cap our liability in it but you can't cover everything. You can't stop someone coming after you. I…
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Give them something useful in the email to show what you can do and let that open the doors for you.
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Everyone we knew who did this has stopped.
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One of the team here has it and it's very good.