We racked our brains but don’t think that we’ve ever explored the essentials of salary sacrifice for paraplanners so, while the Finance Bill is making its way through Parliament, we decided to invite Lucy Clark and James Jones-Tinsley from Barnett Waddingham to tell us what it's all about and what’s changing in future.

Lucy explains: 

• what salary exchange actually is
• the national insurance savings it can unlock – for employees and employers
• the different ways to structure it
• the things that can go wrong

James rounds off the 30-minute briefing by explaining the latest on the progress of the proposed cap, which is due to come into effect by 6 April 2029, and why its final form is far from settled – and may not even happen.

Useful links

Download: Lucy's slides

Visit event page with links

Watch on Vimeo

Hosted on Acast. See acast.com/privacy for more information.

Who led the conversation? Whose risk profile shaped the recommendations? And if one partner wasn’t at the meeting – or didn’t really engage when they were – how much of a difference did that make to the plan you produced?

If you’re not sure, that might be the point.

As paraplanners, we work with the information we’re given. But some of the most consequential decisions in financial planning – which pension gets the contributions, how retirement income is structured, what happens when one partner dies – can be based on assumptions that nobody has explicitly questioned. And more often than not, it’s women who are most exposed when those assumptions go unexamined.

This Assembly is a chance to look at three of those assumptions directly: where they come from, what they cost clients, and what paraplanners can do about them.

Three recurring assumptions that could be impacting women’s financial future

We’ve chosen three assumptions that come up again and again in financial planning for couples, and that can have a disproportionate impact on women’s financial outcomes. 

They span different life stages, so wherever your clients are in their financial journey, there’s likely to be something that resonates.

For each one, we explored how it shows up in real planning situations, what can go wrong for clients, and what the risks are – before asking the practical question: what can a paraplanner actually do about it?

Host Sam Tonks was joined by Women’s Wealth founder, Sam Secomb, and Susan Hope, Business Development Director at Scottish Widows.

Together they worked through each assumption, shared practical ideas, and had a (very) honest conversation about how paraplanners can raise these issues with planners in a way that gets heard.

During this Assembly Sam T, Sam S and Susan covered:

• How planning assumptions form in practice – and why the ones nobody questions are often the ones that cause the most damage
• The compliance and consumer duty implications when planning has only really engaged one partner in a couple
• What can go wrong for clients at different life stages when assumptions go unexamined – and what it costs them
• The risks for the business, and how to demonstrate on the file that you’ve done the right thing
• How to raise these issues with a planner in a way that comes across as risk mitigation, not criticism
• Practical things you can put in place – in the file, in your processes, and in your conversations – that make a real difference

Useful links

Here are links, articles and further reading mentioned during this Assembly.

CPD: Request your certificate

Watch the replay at Crowdcast (with chat)

Sam Secomb’s Telegraph article

Hers and His: Opening up the family budget from the Fawcett Society

Women and Wealth: Building Better Advice Relationships

Women in Retirement insights from Scottish Widows

Be Money Well resources

Living with and beyond cancer in 2045

Financial abuse: does it concern you?

How paraplanners can transform women's financial futures

Hosted on Acast. See acast.com/privacy for more information.

But with IHT receipts expected to almost double, and sweeping changes to business and agricultural property relief already landing from April 2026, paraplanners can expect more and more clients to want to explore all the options.

So at this Assembly, host Richard Allum was joined by Alan Jenkinson, protection specialist at Scottish Widows, to walk through the essentials. During their lunch-hour discussion, Richard and Alan unpack IHT and how it works, run through the key exemptions and reliefs, and explore how protection fits into an IHT planning conversation alongside gifting strategies, trust structures and the normal expenditure out of income rules.

There's also a really useful section on the underwriting process: what to do when a client has health risk factors, when concurrent applications make sense, and why a declined application isn't necessarily the end of the road.

If you're looking for a solid grounding in this area — or a practical refresher before your next client review — this one's well worth an hour of your time.

Useful links

CPD: Request your certificate

Watch the replay at Crowdcast (with chat)

Hosted on Acast. See acast.com/privacy for more information.

But there was too much to cover in just one session. So we’ve invited Nicola Mellor (PFS), Chris Morris (CISI) and Sally Plant (LIBF) back to pick up where they left off. This time around, they answered questions including which body to join and why, exams and qualifications, the role of CPD and how paraplanners can influence the work of professional bodies. Got questions? Here's your chance to ask.

Useful links

CPD: request your certificate

Watch this Assembly:

Crowdcast Replay (includes Chat)

Vimeo

Here's the event page with all the details and links:

What can the professional bodies do for you? Part 2

Here are links to each of the professional bodies:

CISI

PFS

LIBF

Listen to the first part of this Assembly recorded back in November 2025:

Podcast: What can professional bodies do for you? Part 1

Hosted on Acast. See acast.com/privacy for more information.

And because they offer really crunchy case-study based content, they’re really popular with paraplanners. 

But we like to plan ahead so late last year, we sat down with Steve and the team at Utmost to talk about the ‘Technically speaking’ plans for 2026. During the conversation, Steve talked about each of the major tax planning milestones that stem from the measures announced by the Chancellor since October 2024 and stretch ahead to 2031.

And when Steve revealed that he had a single slide that set out each of the changes against a timeline, we decided – there and then – that was definitely something paraplanners would like to hear more about.

So we invited Steve into the studio to talk us through it.

And here’s the result: Steve Sayer’s guide to the tax change timeline until April 2031. In it, Steve covers inheritance tax and the domicile regime, excluded property trusts and the new foreign income and gains regime, the agricultural and business property relief changes, pension death benefits in 2027, plus the effects of the freezing of tax bands until 2031.

Plus you can download his slide using the link below.

Useful links

Download: Steve's timeline of tax changes

Video: Watch at our website

Utmost Technical Academy webinar series

Utmost x Paraplanners' Assembly: all our previous sessions

Hosted on Acast. See acast.com/privacy for more information.

Whether you’re already deep in the detail or still getting your head around everything that’s changed or going to change, one thing’s certain: there’s plenty to think about.

From pension allowances and ISA planning to the upcoming changes to Business Relief and Agricultural Relief, the list of considerations for clients seems longer than ever. And that’s before we get to CGT, investment bonds, salary sacrifice, and all those tax traps lurking around child benefit and personal allowances.

A chance to get ahead before April

We were joined by M&G’s Mark Devlin for a practical run-through of everything paraplanners should be considering in the lead-up to tax year end.

It wasn’t isn’t about theory. It was about making sure you’re thinking about the right things for the right clients at the right time.

During this Assembly we covered:

• making sure the right allowances are being used for clients across pensions, investments and IHT
• what you need to think about for small business clients
• Bed & ISA opportunities
• investment bonds, including whether it’s time to turn offshore bonds onshore
• CGT considerations and rebalancing
• the April 2026 changes to Business Relief and Agricultural Relief
• moving unwrapped investments
• tax traps around child benefit, personal allowance and childcare allowance
• salary and bonus sacrifice

Watch and you'll gain a clearer picture of what to prioritise before April, practical prompts to check you’re not missing anything for your clients, and the confidence that comes from knowing you’ve thought it all through.

Sound useful? Catch up now.

Useful links

CPD: Request your certificate

Watch the replay at Crowdcast (with chat)

M&G Tax Year End hub

M&G tools and calculators

Visit 'Tune up your tax year end to-do list' event page

Hosted on Acast. See acast.com/privacy for more information.

But as James Jones-Tinsley from Barnett Waddingham explains in this 15-minute briefing recorded especially for the Paraplanners’ Assembly, the measure isn’t necessarily a done deal.

He suggests that the government’s recent decision to raise its proposed threshold on agricultural and business property relief from £1 million to £2.5 million indicates that the government can be persuaded to rethink its plans.

So the next few weeks matter. And that’s why James is encouraging advice professionals and clients to write to their MPs – not least to encourage the government to consider the practical consequences of its planned changes. 

For instance, James asks, how reasonable and realistic is it to expect personal representatives, many who are likely to be recently bereaved family members, to successfully negotiate their way through complex pension death benefit rules against the clock?

And is adding to the anxiety of family members worth it when the government's own projections suggest this will raise £1.5 billion by 2029-30 – a fraction of the £6 billion that is already being collected thanks to freezing of the threshold?

If you want to know the latest on the progress of the law resulting from last November’s budget and its consequence for advice colleagues and clients, then you’re in the right place.

Speaking of the Finance Bill…

If you’ve ever wondered how Budget measures become law, James met up with Leanne Pickering of Pivotal Paraplanning back in 2024 to walk through each step in the process. Here's the podcast episode:

From Parliament to paraplanner: How do Budget measures become law?

And speaking of pensions…

James has recorded a series of really helpful jargon busters on new and old pensions exclusively for the Assembly:

New pensions jargon: part one

Listen: A plain English guide to new pensions jargon: part one

Watch: A plain English guide to old pensions jargon: part one

New pension jargon: part two

Listen: A plain English guide to new pensions jargon: part two

Watch: A plain English guide to old pensions jargon: part two

Old pensions jargon: parts one, two and three

Listen: A plain English guide to old pensions jargon: part one

Watch: A plain English guide to old pensions jargon: part one

Listen: A plain English guide to old pensions jargon: part two

Watch: A plain English guide to old pensions jargon: part two

Listen: A plain English guide to old pensions jargon: part three

Watch: A plain English guide to old pensions jargon: part three

Hosted on Acast. See acast.com/privacy for more information.

In conversation with Benjamin Fabi of Principled Paraplanning, Aram Kupelian of Holden and Partners, Jonny Stubbs of Brooks Financial, and Ben Wright of Melo, Zara asks how far and fast AI adoption should go, what could go wrong, and what needs to happen to get this right?

Our last episode looked at where AI in paraplanning stands today.

In this concluding episode, we're looking ahead.

Useful links and downloads

As well as links to the podcast episode on Spotify, Apple and Acast, we’ve included downloads of Harriet Mayer’s slides on AI and paraplanning from The Big Day Out in 2025, and Harriet’s glossary of AI terms too.

Spotify: Listen to Part One

Apple: Listen to Part One

Acast: Listen to Part One

Download: Glossary of AI terms

Download Harriet's slides: An introduction to AI for paraplanners

Hosted on Acast. See acast.com/privacy for more information.

In conversation with Benjamin Fabi of Principled Paraplanning, Aram Kupelian of Holden and Partners, Jonny Stubbs of Brooks Financial, and Ben Wright of Melo, Zara discovers how AI is already influencing multiple parts of day-to-day work that will be very familiar to paraplanners, such as meeting notes, research and collaboration.

But we also hear about reasons for caution: concerns about accuracy, security, and the pace of change.

What is clear is that we’re at the beginning of widespread adoption of AI tools in paraplanning. And no matter how much exposure you’ve had to AI at work so far, this episode (and the next) make for essential listening to understand what’s happening to paraplanning now and in the future.

Useful links and downloads

As well as links to the podcast episode on Spotify, Apple and Acast, we’ve included downloads of Harriet Mayer’s slides on AI and paraplanning from The Big Day Out in 2025, and Harriet’s glossary of AI terms too.

Spotify: Listen to the podcast episode

Apple: Listen to the podcast episode

Podcast: Listen to the podcast episode

Download: Glossary of AI terms

Download Harriet's slides: An introduction to AI for paraplanners

Hosted on Acast. See acast.com/privacy for more information.

So did the reality match the hype? 

For our final Assembly of 2025, we invited Les Cameron from M&G Wealth to join us and share his latest thoughts on what paraplanners need to know following Rachel Reeves’s statement.

Les covers a bunch of different topics that include:

• Inheritance tax changes and business relief updates
• Capital gains tax rates and allowances
• ISA allowances
• Pensions, IHT liability and the role of personal representatives
• Salary sacrifice
• Tax rates, bands and allowances
• Beneficial ordering
• The effect of fiscal drag (or ‘stealth taxes’)

Plus more besides. So if you want to catch up with what's been announced, what's changing, or what's staying the same, this is the Assembly for you.

Assemblies featuring the M&G technical team in 2025

This is the fifth Assembly of the year featuring experts from M&G Wealth's technical team. Here are the other four from 2025:

February 2025 – Pensions, death and taxes (with Les)

April 2025 – A guide to investment bond essentials for paraplanners (with Barrie Dawson)

August 2025 – Tax wrappers: which, why and when? (with Neil Macleod)

September 2025 – The pension IHT bombshell has landed – now what? (with Les)

Useful links

CPD: Request your certificate

Download: Les's slides

Watch the replay at Crowdcast (with chat)

Listen to the podcast episode 

Hosted on Acast. See acast.com/privacy for more information.

And it’s fair to say that the measure has transformed the level of pension saving in the workplace. Plus it’s transformed the role that businesses (and their owners) can play in the financial wellbeing of their employees.

Mind you, there are plenty of paraplanners who weren’t around when auto-enrolment was rolled out. Or when the Pensions Commission was formed in 2005. Or when personal pensions were launched in 1988. 

So in this bonus Assembly episode, we asked Barnett Waddingham’s DC pension and employee benefits expert, Lucy Clark, to provide paraplanners - whatever your level of expertise - with a primer on the origins of workplace pensions, auto-enrolment and where things might be going in the future.  

In just 20 minutes, Lucy provides a potted history of personal pensions, stakeholder pensions, why the original Pensions Commission was formed and its legacy.

What’s more, Lucy walks through the employer duties that need to happen each pay period and the common pitfalls she sees in practice (contribution deductions and certification crop up a lot). She offers a helpful explanation of the net pay anomaly that's affected lower earners in occupational schemes and – this is a new one for us – Lucy talks about 'sidecar savings': an idea that could help people build emergency funds alongside their pension in future.

Speaking of the future, Lucy also considers what it might hold. We're talking potential changes to age thresholds, removing the lower earnings limit, and the ongoing push for contribution adequacy.

This is a fantastic backgrounder packed with knowledge, know-how and insight from a DC pension and employee benefits expert. 

Useful links

Here are the slides that Lucy ran through during her conversation with Richard.

Download: Lucy's slides 

Listen to the podcast episode

Hosted on Acast. See acast.com/privacy for more information.

So we pay our fees, collect our CPD, and maybe sit an exam or two. But are we really getting the most from these organisations? 

What do they offer that can support us in our careers? And is one more suited to me than another? Or are all three much the same?

That’s what this Assembly was all about. We invited Chris Morris from CISI, Nicola Mellor from the PFS, and Sally Plant from LIBF to field questions posed in advance and in the chat by paraplanners.

Note: Because technology didn’t work the way it’s supposed to, Sally wasn’t able to join us on screen BUT she did join us in the Chat while her colleague (and director of financial services at the LIBF) John Somerville, was able to join Richard, Chris and Nicola on screen (from about 15 minutes in).

It’s a great conversation from start to finish and comprehensively explored:

• What specific support does each body offer paraplanners – and what makes the difference between them
• How can paraplanners influence the work of the organisations and how to get involved
• Whether there’s a place for paraplanner-specific qualifications
• How does membership work, what are the costs involved, and why do you need to maintain a membership (for PFS and CISI)

Plus plenty more.

What can you expect to take away?

Once you’ve listened or watched, you’ll have a much clearer understanding of what each professional body offers, which could be the right one for you, and how you can get more value from your membership.

Look out for another installment in 2026

There was so much to talk about that we didn’t manage to address even 50% of the questions that paraplanners had submitted so we’ll be setting up a second session featuring Chris, Nicola and - hopefully - Sally early in 2026.

Useful links

Watch the Replay at Crowdcast (with Chat)

CPD: Request your certificate

CISI’s website

PFS’s website

LIBF’s website

Hosted on Acast. See acast.com/privacy for more information.

In the latest episode in our ‘Technically speaking’ series, we invited Steve Sayer from Utmost to join host Richard Allum, to cast his expert gaze on the post-death planning issues that paraplanners need to consider.

During the hour-long session, Steve explains:

• how deeds of variation work;
• the conditions needed for them to be effective for IHT and CGT purposes;
• practical situations where they make sense;
• related settlements;
• ‘reading back’ provisions; and
• CGT planning opportunities that variations can create.

What’s more, the session also explores disclaimers – the simpler but more restrictive alternative to variations. Steve clarifies:

• the ‘all or nothing’ rule;
• when disclaimers work best; and
• how they differ from deeds of variation in practice.

Throughout the episode, Steve offers examples to help illustrate concepts such as periodic charges and ten-year anniversaries.

If you’re working on suitability reports that cover post-death planning options, are supporting a client following a death, or would just like to give your technical knowledge a boost, this is the ideal ‘Technically speaking’ episode for you.

Useful links

CPD: Take the quiz to receive your certificate

Slides: Deeds of variation and disclaimers

Podcast: Listen on Acast

Utmost Technical Academy webinar series

Utmost x Paraplanners' Assembly: all our previous sessions

Hosted on Acast. See acast.com/privacy for more information.

But when no changes were announced and people sought to reverse their withdrawals, they discovered that the 30-day cancellation rule didn't apply. Or did it?

That confusion over conduct of business rules led to calls for HMRC and the FCA to clarify whether or not savers could cancel – and they've now responded.

In this episode of the Paraplanners' Assembly podcast popular Assembly expert, James Jones-Tinsley of Barnett Waddingham explains how cancellations became an issue, what the clarification means for clients, what regulatory issues the statement throws up, and what paraplanners need to know from now on.

Useful links

During the podcast, Richard mentions James's article for FT Adviser, which you can find here:

Lump sum cancellations: members have been left vulnerable to misunderstanding

Hosted on Acast. See acast.com/privacy for more information.

That’s because Scottish Widows's Craig Spittal joined host, Richard Allum, and guest Alison Neale of Principle Paraplanning, to exclusively reveal key findings of this year's Scottish Widows' Paraplanner Survey ahead of it's formal publication in November 2025.

Original insights on the big issues

During this recording of a lunch-hour online Assembly, Craig shares findings from a sample of 200 paraplanners who completed the third annual survey of paraplanners. Topics covered include:

• Job satisfaction – Do your paraplanning peers feel supported in their current role? And how eager are they to gain greater recognition and influence, and clarity over possible career paths? How high is confidence in the profession overall – and is it the same for everyone at every age?
• Platforms and due diligence – How many platforms do paraplanners use day to day? And what are the issues that grind paraplanners gears? Tune in to hear Alison, Craig and Richard’s thoughts.
• AI and tech – Is the desire for automation matched by tech adoption in paraplanners firms? Or are things moving far slower than the hype suggests? What - if anything - is holding paraplanners back from AI adoption? And how convinced is the community by the promise of AI? Does the carrot of greater efficiency dilute concerns about accuracy and data security?

What can you expect to take away?

Listen and you’ll hear practical insights, honest reflections, and a clear idea of where paraplanners like you think our profession is heading.

So tuck in to a helping of hot-of-the-press original research and take this chance to reflect on the attitudes and trends that are influencing paraplanning today.

Useful links

Make sure to grab your CPD certificate for watching or listening to this Assembly by visiting the link below. You can also download the slides that Craig shared during this Assembly.

CPD: Request your certificate

Scottish Widows Paraplanner Survey Report 2025

Download: Craig's slides (opens PDF in new tab)

Watch the Replay at Crowdcast (with Chat)

Listen to the podcast episode

Hosted on Acast. See acast.com/privacy for more information.

It matters because retirement planning has evolved beyond traditional drawdown strategies. The FCA expects us to distinguish between accumulation and decumulation approaches, and innovative product solutions now exist that can protect clients from running out of money.

Expand your knowledge in one hour

This Assembly was the second part of our exploration into the retirement risk zone, focusing specifically on how product innovations can deliver better outcomes for your clients and featuring guest Connor Stewart from Standard Life in conversation with host Richard Allum.

Together, they explore what clients want from retirement, how regulatory expectations are driving change, and how you can use cutting-edge product solutions to deliver the security and growth your clients need.

What can you expect to take away?

This episode offers actionable insights into product innovations that can transform your retirement planning approach. You’ll understand how to match these solutions to specific client needs and circumstances, ensuring you can deliver genuinely tailored retirement strategies.

Useful links

Here are useful links and downloads from this event. Standard Life have created a dedicated page for this event where you can access your CPD. Just follow the link.

CPD: Download your certificate

Watch the Replay of this Assembly at Crowdcast (with Chat)

Video: watch this Assembly at Vimeo (does not include Chat)

Download: Connor's slides

Web: Event page at paraplannersassembly.co.uk

Part one in this series

Web: Part one at paraplannersassembly.co.uk

Watch the Replay of part one at Crowdcast (with Chat)

Video: watch part one at Vimeo (does not include Chat)

Podcast: listen to part one

Hosted on Acast. See acast.com/privacy for more information.

In 20 minutes you'll learn all about:

• the practical AI session with Harriet Mayer that's focused on hands-on writing tools that work for all experience levels, from complete beginners to regular AI users.
• the technical sessions which allows participants to pick-and-mix between essential and advanced level scenarios for IHT and retirement income planning, allowing you to tailor your learning to your current skill level.
• Zara Okoro's career development session that will helps you identify next steps for your professional growth, regardless of whether you're in-house, outsourced, or still figuring out your path.
• why connections at The Big Day Out —even small ones—can create lasting professional relationships – and the informal, friendly atmosphere makes it easier to join conversations even if you're naturally introverted.
• just how The Big Day Out is designed by paraplanners for paraplanners, creating an inclusive environment where nobody is trying to sell you anything and experts from our supporters participate as equals

There are a handful of tickets left if you'd like to take part in this year's annual gathering. To grab a ticket, visit The Big Day Out 2025

Hosted on Acast. See acast.com/privacy for more information.

That’s what this Assembly is all about: the practicalities of creating a plan for your career; an approach that you can use no matter what stage you’re at in your professional life.

Your career roadmap in just one lunch hour

Caroline Stuart, owner and founder of Sparrow Paraplanning, hosted the conversation which featured four brilliant guests: Ellie Welling paraplanning team leader at Succession Wealth, Joe Jacob, paraplanner at FLP, Peter Spence, advice and paraplanning team leader at Fintuity, and Sarah Purves, learning and development expert at Aegon.

Together, they explored a practical framework for career planning that goes beyond wishful thinking to create actionable next steps.

What can you expect when you watch and listen?

During this Assembly we:

• Explored your career aspirations and help you define what type of role you actually want
• Identified the constraints and opportunities that will shape your path (including your non-negotiables)
• Considered objectives to move you forward
• Provided a template to help you build out your personal career action plan
• Learned from our guests’ experience of starting out and developing as paraplanners

What you will take away

You’ll leave with a practical framework that you can use immediately to plan your next career step – plus real-world insights from paraplanners who’ve successfully navigated their own career transitions at different stages.

Most importantly, you’ll have a clear action plan rather than just good intentions. So if you’ve been thinking about where you go next in your paraplanning career, this session is the perfect place to turn those ideas into practical actions.

A big ‘thank you’ to Aegon

This Assembly would not be possible without the generous support of Aegon. Thank you to the team at Aegon for supporting and for backing the development of paraplanners and paraplanning in the UK through their support of the Paraplanners’ Assembly.

Useful links

Here are the links mentioned in this Assembly. Once you’ve watched or listened, make sure you tap the link to receive your CPD certificate (first link below).

Request your CPD certificate

Download: Sarah's slides

Download: Career plan template

Watch the replay at Crowdcast

Episode 1 in this careers series

Episode 2 in this careers series

Episode 3 in this careers series

Hosted on Acast. See acast.com/privacy for more information.

So will the recently re-constituted Pensions Commission prove to be as consequential as the last? 

To answer that question, we invited Barnett Waddingham’s self-invested pensions specialist, James Jones-Tinsley, to join host Richard Allum, to share his thoughts on the scope of the Commission and what it could mean for paraplanners and clients. 

In 20 minutes, James explains why it has been necessary to revive the Pensions Commission and what problem it has been asked to address.

As well as considering the big trends driving reform - such as demographic pressures - the conversation covers:

• small pots consolidation
• pension dashboards
• minimum contributions
• solutions to inequalities in retirement outcomes for lower earners, women, carers, and the self-employed

Plus James and Richard discuss how advice professionals can influence the Commission's work through upcoming consultations. 

All in all, this episode is a fantastic backgrounder for paraplanners who want to stay ahead of changes in pensions and pension policy.

Useful links

Alongside the Pensions Commission, the Government has also launched a review of State Pension Age. James has also recorded a podcast on that too. You can find the podcast on Spotify, Apple and Acast, or by searching 'Paraplanners' Assembly' on your podcast app.

James has recently published posts and comment articles on the topic of the Pensions Commission and State Pension Age review. Here are the links:

Sipps Professional

James Jones-Tinsley: State Pension Age of 68 may move nearer

Barnett Waddingham blog

Will the Pensions Commission fix pension under-saving?

State Pension Age review: what advisers need to know

Hosted on Acast. See acast.com/privacy for more information.

On 21 July 2025, HMRC published their response to the pension IHT consultation, along with draft legislation that will bring unused pension pots into the inheritance tax net from April 2027. The writing's been on the wall since Rachel Reeves' October 2024 Budget announcement, but now we have the detail and it's time to work out what this means for our clients.

As paraplanners, we're about to face some of the most fundamental shifts in retirement and estate planning strategy we've seen in years. The days of treating pensions as the IHT-free golden goose are numbered, and clients will be looking to us for answers.

This isn't just about understanding the new rules. It's about completely rethinking how we approach pension planning, estate planning, and the delicate balance between the two.

Your crash course on the new pension IHT landscape

We were joined by M&G's Les Cameron to eexplore the different options to mitigate pension-driven IHT liabilities including:

• Are pensions dead? Separating the headlines from the reality for long-term retirement planning
• Is whole of life the answer? When life assurance might fill the IHT gap
• Moving client money – the practical considerations of reshuffling portfolios
• Annuities vs drawdown – how the IHT changes affect this fundamental choice
• Bypass trusts – exploring whether trust structures can still provide solutions

What can you expect to take away?

You'll leave this Assembly with a clear understanding of how the new IHT rules will work in practice and with strategies you can implement immediately to help clients navigate this changing landscape.

Fair warning: there's so much ground to cover that we may run slightly over our usual 60 minutes. If we do, we'll schedule a follow-up session to tackle any outstanding questions.

Useful links

Here are useful links and downloads from this event. M&G Wealth have created a dedicated page for this event where you can take a quiz to receive a record for your CPD. Just follow the link to grab your certificate.

Receive your CPD: take the quiz at M&G's site

Download: Les's slides (opens PDF)

Video: watch the Replay at Crowdcast (with Chat)

Video: watch this Assembly on Vimeo (without Chat)

M&G tools and calculators

Watch or listen: Les Cameron on pensions, death and taxes

Watch or listen: A guide to investment bond essentials for paraplanners

Watch or listen: Tax wrappers: which, why and when

Hosted on Acast. See acast.com/privacy for more information.

As well as considering the scope of the review, which is being led by Dr Suzy Morrissey, deputy director of the Pensions Policy Institute (PPI), and what it means for the future, Richard and James discuss 

They discuss:

• increases to the state pension age - and why the rise to an SPA of 67 by 2028 is unlikely to be the end of the story
• how the ‘triple lock’ came about – and why its future is uncertain
• why approaches adopted by other governments could offer inspiration to provision of the UK State Pension in future

The review’s call for evidence closes on 24 October 2025. And with its focus on life expectancy and intergenerational equity, this episode is essential listening for paraplanners keen to stay ahead of the debate and its likely effects on retirement advice long into the future.

Useful links

You'll find the Government's open call for evidence at the Review's webpage:

Third State Pension age review: independent report call for evidence

James's post about the State Pension age review is available at Barnett Waddingham's blog:

Government to reassess the State Pension age

Plus Sipps Professional published a comment article on the State Pension age at its site:

James Jones-Tinsley: State Pension age of 68 may move nearer

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For many paraplanners, staying in paraplanning is exactly what they want to do. But what does career development look like within the profession? How have people built on their paraplanning skills and experience? And what about those considering a move into other areas like financial planning or specialising in research or operations?

This Assembly, recorded on 3 September explored some of the career routes within and from paraplanning.

Our host Caroline Stuart, owner and founder of Sparrow Paraplanning, is joined by Ellie Bailey, paraplanning team leader at Succession Wealth, Farida Hassanali, client manager at Paradigm Norton, Rebecca Tuck, operations director at FLP Financial Life Planning and Sian Greenhill, operations executive and centralised investment and product committee at Brooks Financial – all sharing their perspectives on career progression and specialisation.

Over the course of the Assembly, they discuss:

• Some of the career development options for paraplanners
• The practical steps our panel took to progress in their careers
• Lessons learnt along the way
• Tips for planning your next career move

You’ll leave this Assembly with your head full of good ideas for potential career development and a bucket load of insights from people who’ve successfully made these transitions and you can claim one hour’s CPD.

Catch up on previous Assemblies in this series

This continues our series on paraplanning career development. Don’t miss our previous sessions exploring how to break into paraplanning and choosing the right place to work for your early paraplanning career.

Save your spot at the final session in this four-part series

Join us online at 1pm on Wednesday 1st October 2025 for ‘Developing as a paraplanner: ‘How do I build a career?’’

Thanks to Aegon

This Assembly would not be possible without the generous support of Aegon. Thank you to the team at Aegon for supporting and for backing the development of paraplanners and paraplanning in the UK through their support of the Paraplanners’ Assembly.

Useful links

Here are the links mentioned in this Assembly. Once you’ve watched or listened, make sure you tap the link to receive your CPD certificate (first link below).

Request CPD certificate

Crowdcast: watch the Replay (with Chat)

Vimeo: watch video of this Assembly (without Chat)

The Big Tent

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But the big cut in the capital gains tax allowance and rises in tax on gains and dividends has changed things. Tax wrappers that once seemed like more hassle than they were worth (like investment bonds) could now be the ideal vehicle – especially for higher rate taxpayers.

But which wrapper is right in which circumstances and why?

That’s the question that guest Neil Macleod from M&G's technical team was invited to answer when he joined host, Leanne Pickering, for this Assembly.

What you'll learn by listening

Over the course of one lunch hour, Leanne and Neil explored when bonds are more suitable, when offshore makes sense, and why the 'best' mathematical answer might not actually be the right choice for your client. In this Assembly you’ll:

• learn from real case studies that compare basic rate versus higher rate taxpayers
• find out how to use withdrawals strategically to fund ISAs
• discover why different asset types work better in different wrappers
• tackle those tricky questions about investing within trusts
• understand why paying a bit more tax sometimes makes perfect sense

You’ll discover that the right choice for your clients isn't just about what the spreadsheet says but about the broader thinking

What’s more, once you’ve listened, follow the link below and you can request a record of 1 hour’s worth CPD too.

Useful links

Here are useful links and downloads from this event. M&G Wealth have created a dedicated page for this event where you can take a quiz to receive a record for your CPD. Just follow the link to grab your certificate.

To receive a record of participation for CPD, follow this link ➜ https://bit.ly/47zAs6g

You can also download Neil's slides (opens PDF).

You can watch the Replay of this Assembly at Crowdcast (includes Chat) ➜ https://www.crowdcast.io/c/fgnir28tysqh

Or you can watch on Vimeo (without the chat) over here ➜ https://vimeo.com/1111664975

Leanne mentioned two Assemblies featuring M&G's technical team in 2025. Here’s the Les Cameron’s Assembly on pensions, death and taxes ➜ https://bit.ly/3RhZvl9

And here’s Barrie Dawson’s Assembly on investment bond essentials ➜ https://bit.ly/4cuQuPa

You’ll find the tax wrapper comparison tool here ➜ https://bit.ly/3JrGUSJ

Here’s M&G’s Bond School ➜ https://bit.ly/4mor2z0

You’ll find loads of tools and calculators at M&G’s Tech Matters site here ➜ https://bit.ly/3RkVNY0

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Do you choose in-house team or outsourced provider? A small boutique practice or large corporate? Whichever you choose, there will be pros and cons, so how do you decide which is most suitable for you?

This Assembly – recorded on 6 August 2025 – lifts the lid on different paraplanning career paths and workplace structures. It’s the second in a series of Assemblies looking at careers in paraplanning and supported by Aegon.

Our host Caroline Stuart of Sparrow Paraplanning is joined by Julie South, owner of Bee Paraplanning, Sarah Lees, senior paraplanner at Forvis Mazars and Jo Parkes, paraplanning manager at Navigatus – paraplanners with experience of working in all kinds of organisations and are ready to share what it’s meant for their careers.

Over the course of the Assembly, they discuss:

• The different paraplanning structures out there – and what they’re really like to work in
• How to get your foot in the door – and what to look for in potential employers
• What support and development you can expect from types of organisations
• Practical tips for adapting and thriving wherever you land

You’ll leave with a clearer picture of your paraplanning options, practical insights from experienced practitioners, and the confidence to take your next career step.

Thanks to Aegon

This Assembly would not be possible without the generous support of Aegon. Thank you to the team at Aegon for supporting and for backing the development of paraplanners and paraplanning in the UK through their support of the Paraplanners’ Assembly.

Don’t miss the first Assembly in this series

This is the second Assembly in a series on breaking into and developing your career in paraplanning. Discover the first in the series Breaking into paraplanning: where do I even start?.

Useful links

Here are the links mentioned in this Assembly. Once you’ve watched or listened, make sure you tap the link to receive your CPD certificate (first link below).

Request CPD certificate

Crowdcast: watch the Replay (with Chat)

Vimeo: watch video of this Assembly (without Chat)

The Big Tent

Professional Paraplanner

Plannex (previously known as NextGen Planners)

Glassdoor - for employees’ opinions about employers

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If you're wondering…

• which pension benefits are in scope (and which aren't)?
• who's responsible for paying the tax?
• how will the income tax offset actually work in practice?
• what's the timeline for implementation?

...you're not alone.

So in this bonus podcast episode, host Richard Allum met up with Barnett Waddingham’s James Jones-Tinsley to talk through the Government’s planned changes, what they mean for paraplanners and your clients, and suggest practical steps that you can already take to help clients get ready for the change.

The measures, which feature in the Finance Bill 2025-26, could still change as the proposals make their way through Parliament from September. But if you're wondering where things stand right now and what you should be thinking about for clients with decent-sized pension pots, this is a fantastic update that gives you the current picture.

Speaking of the Finance Bill…

If you’ve ever wondered how Budget measures become law, James met up with Leanne Pickering of Pivotal Paraplanning last year to walk through each step in the process. Here's the podcast episode:

From Parliament to paraplanner: How do Budget measures become law?

And speaking of pensions…

James has recorded a series of really helpful jargon busters on new and old pensions exclusively for the Assembly:

New pensions jargon: part one

Listen: A plain English guide to new pensions jargon: part one

Watch: A plain English guide to old pensions jargon: part one

New pension jargon: part two

Listen: A plain English guide to new pensions jargon: part two

Watch: A plain English guide to old pensions jargon: part two

Old pensions jargon: parts one, two and three

Listen: A plain English guide to old pensions jargon: part one

Watch: A plain English guide to old pensions jargon: part one

Listen: A plain English guide to old pensions jargon: part two

Watch: A plain English guide to old pensions jargon: part two

Listen: A plain English guide to old pensions jargon: part three

Watch: A plain English guide to old pensions jargon: part three

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In fact, it’s such a distinctive stage in our financial lives that, among a growing number of advice professionals, it’s known as the ‘retirement risk zone’.

The data says – and you’ll know this yourself – that clients tend to become more risk-averse on their approach to retirement. Yet the likelihood of longer lifespans – and the costs associated with it – mean that ‘playing it safe’ could actually prove to be risky.

What’s more, persistent economic uncertainty and instability, not forgetting the FCA’s retirement income review exposing gaps in advice quality, means hatching a plan that helps clients swerve unnecessary risks around retirement has never been more important.

Zone in on the risks in one hour

In this online Assembly Connor Stewart from Standard Life joins host, Richard Allum, to explore the features of the retirement risk zone.

Together they consider the risks that can trip clients up – things like the shift from accumulation to decumulation, sequencing returns, and adapting to changing financial priorities in an uncertain world – before considering practical ways to tackle them.

Tune in now

Listen and you’ll hear practical ideas to help guide clients through one of the trickiest phases of their financial lives. So how about it? Fancy zoning in on retirement risk? Then tune in now.

Useful links

Here are the links mentioned in this Assembly. Once you’ve watched or listened, make sure you tap the link to receive your CPD certificate (first link below).

Request CPD certificate

Connor's slides: retirement risk zone (PDF)

Vimeo: watch video of this Assembly (without Chat)

Crowdcast: watch the Replay (with Chat)

Annuities essentials: part one

Annuities essentials: part two

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In his latest 'Technically speaking' session for the Paraplanners' Assembly, Utmost's Steve Sayer explores how offshore bonds and trust structures work together – offering inheritance tax planning options that provide flexibility for clients who want to be prepared for the 'what ifs' of life.

Packed with helpful examples and case studies

Steve brings the options to life with a series of examples of different trust arrangements and how they can be combined.

He’ll show you how discounted gift trusts can provide an immediate reduction in estate value, how loan trusts offer capital access, and why reversionary interest trusts might help hesitant clients take their first steps with inheritance tax planning.

The session includes a detailed case study showing how married clients in their sixties, with £3.5 million in assets, could use multiple trust structures to meet their annual income needs all while reducing their inheritance tax liability.

What's more, you'll learn about the planning opportunities that come with non-UK long term residence status and how offshore bonds can keep assets outside the UK inheritance tax net.

And to round off his session, Steve shares a decision-tree approach that you’re bound to find useful when you’re weighing up client needs.

Grab a copy of Steve’s slides - plus a certificate for your CPD

Slides: trusts and offshore bonds - options for IHT

Then make sure to take our quick quiz to receive a certificate for your CPD:

CPD: Take the quiz to receive your certificate

Other useful links

Steve mentions Utmost's conversion guide for discounted gift trusts. You can download it here:

Discounted gift trust: conversion guide (May 2025)

Fancy watching this Assembly instead? Then visit the event page at the Paraplanners' Assembly website:

Technically speaking: Trusts and offshore bonds - options for IHT planning

You can find all our previous technical sessions with Utmost here:

Utmost x Paraplanners' Assembly: all our previous sessions

And don't forget to take a look at Utmost's Technical Academy webinar series too.

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Whether you want to get into paraplanning, are just starting out, or know someone who would love to get their break, this online Assembly – recorded on 9 July 2025 – is jam-packed with insights on making your move into paraplanning.

Hear for yourself how our guests took their unique paths into paraplanning

Host Caroline Stuart is joined by paraplanning guests Chris Wormwell, Ceetal Katechia and Kez Condy, plus personal development expert Sarah Purves of Aegon.

Over the course of one podcast, you’ll discover how each of our paraplanners took very different routes into the profession.

Among the topics covered are

• The multiple pathways into paraplanning (because there's never a ‘right’ route is there?)
• Tried and tested strategies for overcoming obstacles when starting out (or just started)
• Building a career plan that works for you
• Creating your support network
• Tackling imposter syndrome head-on
• Vital conversations to have with current or potential employers

Don’t forget your CPD

Once you’ve listened to this Assembly, you can request a certificate for 1½ hours CPD. Just follow the link below.

Thank you Aegon

This online Assembly would not be possible without the generous support of Aegon. Thank you to the team at Aegon for supporting next week’s Assembly – and for backing the development of paraplanners and paraplanning in the UK through their support of the Paraplanners’ Assembly.

Useful links 

There are loads of links following this Assembly. First of all, once you’ve listened to this episode, make sure you tap the link to receive your CPD certificate: https://paraplannersassembly.typeform.com/to/ocHx6IFO

You can also watch the Replay of this Assembly at Crowdcast (includes Chat): https://www.crowdcast.io/c/5xznwgskdxz9

Or view it on Vimeo: https://vimeo.com/1100103967

Sarah mentioned the fantastic idea of picking people for your ‘personal boardroom’. Here’s a link that tells you more: https://www.personalboardroom.com/for-individuals/

Caroline recommended downloading the PFS’s booklet ‘Getting you started in paraplanning’ (opens a PDF)

Chris mentioned The Chimp Paradox – a ‘mind management model grounded in neuroscience’ by Prof Steve Peters.

Kez talked about her experience of a paraplanning apprenticeship. To find out more, visit the Skills England Apprenticeship finder, which tells you more about the new combined Financial Planning and Paraplanning apprenticeship. There is currently one provider – Skills Edge Training – but we understand there may be more entering.

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But are we truly creating plans for the individuals in front of us? Or are we unwittingly relying on conventional thinking and assumptions which are actually more likely to be rooted in men’s experiences rather than women’s?

It matters because, more often than not, women’s financial lives are very different to men’s. So to deliver genuinely effective financial planning, it’s important to understand the differences and how to adapt our approach.

A chance to challenge your thinking

In the recording of this online Assembly, host Sam Tonks invited Sam Secomb of Women’s Wealth and Susan Hope of Scottish Widows to explore how paraplanners can better understand and address the unique financial planning needs of women. During the session Sam, Susan and Sam discuss

– what makes women’s financial experience so different from men’s

– the real-world impact of the ‘parenthood penalty’ on long-term financial planning

– our assumptions about vulnerabilities, risk profiles and investment preferences

– practical strategies paraplanners can implement to better serve female clients

Useful links 

There are loads of links following this Assembly. First of all, once you’ve listened to this episode, make sure you tap the link to receive your CPD certificate: https://emails.scottishwidows.co.uk/womens-finances-webinar-CPD

You can also watch the Replay of this Assembly at Crowdcast: https://www.crowdcast.io/c/sk0o36kcb5fn or on Vimeo instead: https://vimeo.com/1096332315

There are a number of items of research referred to during this Assembly or which offer valuable background reading including:

Sam Secomb: Women’s career progression in the UK financial planning sector: https://bit.ly/4lckHFZ

Research from TISA that includes language around risk warnings: https://bit.ly/45qwoUU

Download Sam Secomb’s ‘Million Pound Difference’ case study here: https://bit.ly/4nfrwIy (opens PDF)

Plus there are some excellent stats and insights from Scottish Widows’s ‘Women & Retirement Report 2024’: https://bit.ly/449mKDZ

You’ll also find lots of valuable tools at Scottish Widows site including:

Beat the Gap tool: https://bit.ly/4n00oNE

The Pension Mirror: https://bit.ly/4ejrnju

Meet your future self: https://bit.ly/3HLSUhj

Plus Caroline Criado Perez’s fantastic Invisible Women was a must-read mention in the Chat.

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Over the course of one lunch-hour, Andy Powell from Standard Life walked us through the basics of annuities – how they work, the differences between pension and purchased life annuities, and the kinds of options available like inflation protection and guarantee periods.

Now annuity expert Andy is back and he’s taking things a little bit further.

In the second of his two-part guide to annuities essentials for paraplanners he talks to host, Richard Allum, about how annuities can feature as part of your clients’ retirement income strategies. For instance, among the practical planning tips that go beyond the basics, are things like:

– annuities can actually boost the value of the legacy client’s leave for loved ones

– annuities can be used as an asset class within broader portfolios

– and much more

After years of being out of fashion, annuities have been enjoying a bit of a renaissance lately. So what better time to refresh your annuities knowledge and - who knows? - maybe challenge your thinking about how they can contribute to a client's retirement strategy these days?

Fancy topping up your annuities knowledge? Then tune in now.

Useful links

Grab your CPD certificate for watching or listening to this Assembly by visiting the link below. There were plenty of useful links shared in the chat during the Assembly. Thanks to Rob Collins, Heather Fosker and Jon Young for sharing your links. If you want to speak to someone at Standard Life about their guaranteed life income annuity you can email GLI_sales@standardlife.com

CPD: Grab your record of CPD 

Watch the Replay at Crowdcast (includes Chat)

Watch the video on Vimeo (doesn’t include Chat)

Visit the event page

Standard Life’s guaranteed lifetime income annuity webpage

Map of healthy life expectancy

The Lang Cat’s ‘State of the Platform Nation 2025’ report

Steve Webb on pensioner spending research by LCP/Uni of Bath

Retirement Living Standard’s ‘Picture your future’ tool

Inheritance Tax guaranteed annuity calculator

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The reason we ask is that we were inspired by paraplanner Zara Okoro’s recent thought-provoking article in Professional Paraplanner all about innovation. So we invited Zara from Abacus Associates, who’s also a PFS Paraplanner Panel member, to share her thoughts on how paraplanners can adapt rather than risk getting left behind.

Alongside Zara, we were joined by PSA Financial Services’ head of paraplanning, Ceetal Katechia, to join in the conversation. Ceetal has bags of practical experience in creating team environments in which new ideas flourish.

Together with host Richard Allum, this Assembly asked what innovation actually looks like, whether it’s always a good thing, what fuels it, and how can you influence it when you’re not the decision-maker?

It’s an Assembly that’s all about how you can embrace innovation and shape our profession rather than be subject to changes happening around you.

What can you expect when you listen?

You’ll come away with practical ideas to try out, whether you’re looking to improve your processes and workflow, make better use of existing tools and tech, or create space for bigger changes in your work.

Most of all, this is a chance to step back from day-to-day demands and take a few moments for yourself to think about how even small changes can shape your role and influence the direction of your career in paraplanning.

Useful links 

Once you’ve listened, make sure you tap the link to receive your CPD certificate: https://paraplannersassembly.typeform.com/to/hR6mIizq

Here’s Zara’s article at Professional Paraplanner: https://bit.ly/4jA9WwQ

Watch the Replay at Crowdcast: https://www.crowdcast.io/c/6x1q91lqsgut (includes the Chat)

Or watch on Vimeo: https://vimeo.com/1080253419?share=copy (doesn’t include the Chat)

The University of Helsinki's foundational online courses on AI cropped up as a recommendation during the discussion

So did the book The Art of Quiet Influence - subtitled 'Timeless wisdom for leading without authority'

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If it’s rarely or not at all, that’s not so surprising.

Because bonds seem to have become a bit neglected planning option in recent years haven’t they?

It’s a trend which means that paraplanners can be forgiven for being a bit rusty when it comes to the latest investment bond knowledge.

Yet they’re an option which offers plenty of planning potential. So we thought it was about time we hosted an online Assembly where you can rekindle your bond with bonds.

What you’ll gain from this episode

To guide us, we’re joined by investment bond expert Barrie Dawson from M&G. During this Assembly Barrie covers:

– What bonds actually are

– Common jargon (that’s often misunderstood)

– How bonds are taxed internally – and why the ‘20% tax rate’ misunderstanding persists

– When bonds make sense: practical comparisons with other investment options

Whether bonds are something you’re just getting to grips with, or you just need a refresher, this Assembly offers clarity about when and how bonds can feature in your planning recommendations.

Useful links

Once you’ve listened, make sure you complete the quick quiz to receive your CPD certificate: CPD: Request your certificate

Here’s a link to download Barrie’s slides: Barrie’s slides on Bonds and OEICS (opens PDF)

Richard mentions Les Cameron’s Assembly on pensions, death and taxes. Here’s the event page which has lots of links. You can also listen to the episode on Acast or search for ‘Paraplanners’ Assembly’ on your favourite podcast app.

You’ll find the M&G Bonds School over here: M&G Bonds School

And there’s a trove of tools and calculators at M&G’s site: Tools and calculators

If you’d like to watch the Replay of this Assembly you can find it at its Crowdcast page.

You can also watch video of this event by visiting its Vimeo page. (Unlike the Replay, this version doesn’t include the contents of the live Chat. Here’s the link: A guide to investment bond essentials.) 

If you’d like to watch the Replay of this Assembly you can find it at its Crowdcast page.

You can also watch video of this event by visiting its Vimeo page. (Unlike the Replay, this version doesn’t include the contents of the live Chat. Here’s the link: A guide to investment bond essentials.)

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• CDC (collective defined contribution schemes)
• PAA (pensions advice allowance) 
• OTA (overseas transfer allowance)
• Crystallised and uncrystyallised pensions funds
• FP2016 or FP16 (fixed protection 2016)
• IP2016 or IP16 (individual protection 2016)

For each item, expect an easy-to-understand definition that also offers a bit of background per term. 

In a world that’s awash with word soups and acronyms, James’s jargon buster offers a welcome source of straightforward explanations of often quite complex ideas.

You can also watch the video of this episode on Vimeo or the event page at our website.

Can’t get enough pensions jargon?

Then watch or listen to part one, where James will tackle more modern pension terms.

New pensions jargon: part one

Listen: A plain English guide to new pensions jargon: part one

Watch: A plain English guide to old pensions jargon: part one

And if that's not enough and you want OLD pensions jargon, here are links to James's trio of episodes:

Podcasts: old pensions jargon

Listen to part one: A plain English guide to old pensions jargon: part one

Listen to part two: A plain English guide to old pensions jargon: part two

Listen to part three: A plain English guide to old pensions jargon: part three

Videos: old pensions jargon

Watch part one: A plain English guide to old pensions jargon: part one

Watch part two: A plain English guide to old pensions jargon: part two

Watch part three: A plain English guide to old pensions jargon: part three

Event pages: old pensions jargon

Event details for part one: A plain English guide to old pensions jargon: part one

Event details for part two: A plain English guide to old pensions jargon: part two

Event details for part three: A plain English guide to old pensions jargon: part three

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And this time it’s the essentials of business protection that the Scottish Widows’ protection expert will be focusing on.

The chances are you’ll have business owners among your clients. And plenty of you run your own businesses as outsourced and freelance paraplanners.

So what happens when someone running a business becomes critically ill or dies? What steps can you take to address the risk? How do you start a conversation about business protection?

Tune in to hear Jon as he shares his expertise on:

• The business protection gap and what this means for SMEs
• How to start meaningful conversations with business owners about their protection needs
• Technically, what’s essential for robust business continuity planning
• The range of solutions available – from key person and loan protection to shareholder protection and relevant life cover
• The difference between shareholder and option agreements
• The role of trusts as part of business protection arrangements
• Tax and efficiencies for businesses and individuals

Whether you want to develop your knowledge or make sure clients with business have the right plans in place, you’ll find this Assembly really valuable.

Useful links

Jon has shared a number of links and downloads – some of which he mentioned during his talk.

CPD: request your certificate

Jon's slides: Paraplanners Assembly - Business Protection Essentials (PDF)

Vimeo: watch this Assembly

Adviser guide to business protection

Protection tools and calculators

Conversation starters for clients with businesses

Visit the event page

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In part one, James’s conversation covers five essential terms:

• PCLS (pension commencement lump sum)
• LSA (lump sum allowance) LSDBA (lump sum death benefit allowance) that replaced the lifetime allowance, highlighting that the standard allowance isn't scheduled for automatic increases.
• TTFAC (transitional tax-free amount certificate)
• MPAA (money purchase annual allowance)

For each item, expect an easy-to-understand definition that also offers a bit of background per term. 

In a world that’s awash with word soups and acronyms, James’s jargon buster offers a welcome source of straightforward explanations of often quite complex ideas.

You can also watch the video of this episode on Vimeo or the event page at our website.

Can’t get enough pensions jargon?

Then look out for part two, where James will tackle more modern pension terms.

In the meantime, why not tune into James’s trio of old pensions jargon guides here in podcast or video formats? (Or visit the event pages for each episode at our website.)

Podcasts

Listen to part one: A plain English guide to old pensions jargon: part one

Listen to part two: A plain English guide to old pensions jargon: part two

Listen to part three: A plain English guide to old pensions jargon: part three

Videos

Watch part one: A plain English guide to old pensions jargon: part one

Watch part two: A plain English guide to old pensions jargon: part two

Watch part three: A plain English guide to old pensions jargon: part three

Event pages

Event details for part one: A plain English guide to old pensions jargon: part one

Event details for part two: A plain English guide to old pensions jargon: part two

Event details for part three: A plain English guide to old pensions jargon: part three

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Once the default choice of guaranteed income in retirement for generations of UK pension savers, for a whole bunch of reasons, annuities had been falling out of favour for year and years.

Why annuities matter again

Higher interest rates and inflation have led to a revival of interest in securing certainty of income in retirement. 

The trouble is that an emerging generation of paraplanners – and a sizeable chunk of the more established paraplanning population – had barely any recent experience of annuities.

So we invited Andy Powell from Standard Life to join us to explain:

• How annuities work 
• What drives annuity rates
• The practical differences between pension annuities and purchased life annuities
• Why different providers offer different rates for similar circumstances

Tailoring annuities to client needs

During this Assembly, Andy explores the different ways annuities can be designed to meet sifferent requirements. For instance:

• Rising payments: increasing the amount clients receive each year in retirement 
• Safety nets: making sure payments continue for at least 5 or 10 years, even if you die
• Family protection: keeping payments going for your partner or someone else after you die
• Money-back features

Andy also covers newer developments like fixed-term annuities and platform-based solutions that let clients combine secure income with investment flexibility without splitting pension assets across different providers.

For paraplanners, perhaps one of the most valuable takeaways is understanding enhanced terms where, in contrast to other insurance products, health conditions actually increase and not decrease income.

This practical session will give you paraplanners useful knowledge to help clients weigh up their retirement income options. So why not watch now?

Useful links

Grab your CPD certificate for watching or listening to this Assembly by visiting the link below.

Plus there were some great links shared in the chat during the Assembly. This included the ‘Retirement Health and Lifestyle form’, which helps you prepare for the questions clients may be asked when purchasing an annuity (via Sarah Compton-Hall); and annuity rates chart, and IHT guaranteed annuity calculator (via Rob Collins).

CPD: Request your certificate

Retirement health and lifestyle form

Annuity rates chart

Inheritance tax guaranteed annuity calculator

Listen to the podcast episode

Watch the Replay at Crowdcast (includes Chat)

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In preparation for the change, the government announced a consultation on the liability, reporting and payment of IHT at last October’s Budget.

That consultation ended in January 2025. But what are its conclusions likely to be? And what do paraplanners need to know now so you, your firm and its clients are ready when the reforms go live

What do you and your clients need to know?

Well that's where technical specialist Les Cameron from M&G comes in. Because Les joined host, Richard Allum, to explore what the changes could mean for paraplanners and clients.

What you can expect to take away from this Assembly?

Les shares his thoughts on how the new IHT framework will affect pension death benefits after 2027 and, in a wide-ranging talk, covered things like:

• Whether it makes sense to think about taking money out of pensions earlier than planned
• Why bypass trusts might be making a comeback
• How the pension reforms could affect red-amber-green assessment
• Practical steps paraplanners can take now to prepare for the changes
• There will be plenty of time for questions so, whether you’re wondering about specific client situations or broader planning strategies, this is a great chance to gain expert insight into a big change for pension planning.

Interested? Then tune in now. And don't forget to grab one hour’s CPD by following the link below.

Useful links

Here are useful links and downloads from this event. M&G Wealth have created a dedicated page for this event where you can take a quiz to receive a record for your CPD. Just follow the link to grab your certificate.

Grab your CPD: take the quiz at M&G's site

Watch this Assembly at Vimeo (without Chat)

Watch the Replay on Crowdcast (with Chat)

Slides: download Les's presentation

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Instead of the complex domicile rules, a new ‘long-term residency’ test will decide whether someone’s worldwide assets fall into the IHT net.

Discover what’s changing

In this episode, Utmost’s international technical sales manager, Steve Sayer, explores how the new rules could affect clients in a range of scenarios – whether they’re UK residents planning to retire abroad or people returning home after years overseas.

Using worked examples, Steve demonstrates how changes affect trust planning, and explains when trusts might shift between excluded and relevant property status. He also touches on the implications of pension death benefits becoming subject to IHT from 2027.

Who is this Assembly for?

Whether you’re already dealing with cross-border IHT planning or want to understand how these changes might create new planning opportunities, this session is a great way to get to grips with the new framework.

What are the learning objectives

By the end of this podcast, you'll understand the post April 2025 changes to:

• Inheritance Tax (IHT), and
• The taxation of non domiciles
• How trusts can help to mitigate IHT liabilities
• Discuss and explain these with a client in a clear and concise way
• Apply this knowledge to appropriate, individual, client scenarios

Want to learn more? Then tune in now.

Download Steve's slides and follow along

Slides: download Steve's slidedeck

Once you've listened, grab your CPD

CPD: Take the quiz to receive your certificate

More useful links

Podcast: Listen on Acast

Utmost x Paraplanners' Assembly: all our previous sessions

Utmost Technical Academy webinar series

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Well you’re not alone. Because despite being a foundational long-term financial security, for paraplanners, the topic of protection often takes a back seat compared to consideration of investment and retirement strategies.

Which invites the question: what happens to that carefully crafted financial plan if a client’s income falls or they’re faced with the financial consequences of a bout of serious illness or worse? 

To find out tune into the recording of this Assembly held online on 5 February 2025 when Jon Hall, protection specialist at Scottish Widows, joined us to explore protection essentials for paraplanners including:

• Why protection deserves a place in holistic financial planning (and how to make the case for it)
• Current trends in the protection market and how to tackle common misconceptions
• The fundamentals: from product types and processes to remuneration options
• Practical tools and technology that can help you research and recommend solutions

Straight after the event, Jon popped over to The Big Tent and created a thread where he answered questions that paraplanners had raised during the gathering but he hadn’t had time to answer live. Be sure to take a look at his responses.

Useful links

Jon has shared a number of links and downloads – some of which he mentioned during his talk.

CPD: request your certificate

Jon's post-Assembly Q&A in The Big Tent

Protection facts

Better protection conversations

Scottish Widows' protection recommendation tool

Five protection myths

Guide to Scottish Widows’ Protect proposition

Jon also mentioned these tools which paraplanners should know about (if you don't already):

UnderwriteMe

CI Expert

ProtectionGuru Pro

Defaqto Matrix

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So for those who wanted to be certain where things stood, and confirm for themselves that the LTA saga was absolutely definitely over, James Jones-Tinsley from Barnett Waddingham and Transact's Brian Radbone joined us to put us all straight – once and for all.

Over the course of one lunch hour, James and Brian offered their insights on all the corrections, clarifications and considerations that you could possibly want to know when it comes to the lifetime allowance.

Paraplanners came armed with their questions and comments to share in the chat, and tuned in to hear what our experts – and paraplanners just like them – learned from the saga of the LTA abolition.

Useful links

Here are some useful downloads and links from this Assembly. You’ll find PDF and PNG images of the LTA saga timeline visual that James talked through. Plus we’ve provided links to the podcast and video of James’s conversation with Pivotal Paraplanning’s Leanne Pickering about how Budgets become law (which includes quite a lot of LTA chat).

CPD: request your certificate

LTA abolition legislative timeline (PNG image)

LTA abolition legislative timeline (PDF)

Podcast - From Parliament to paraplanner: How do Budget measures become law?

Video - From Parliament to paraplanner: how do Budget measures become law?

Hosted on Acast. See acast.com/privacy for more information.

So it shouldn’t be a surprise to learn that more and more clients are looking for returns that aren’t measured financially, but by effecting positive economic, social and environmental change.

But how many of your clients think this way? And if you did know how many, how confident are you that you can help clients make their social and charitable ambitions part of a practical financial plan? 

What you’ll learn at this Assembly

To explore this topic we gathered together three wise people (appropriate for the time of year) to help us:

• look at different ways in which clients can give these days
• why they might want to give in the first place; and
• the evidence that clients do want to give but their advisers don’t seem to realise

Host Richard Allum is joined by pioneering ethical investing advocate and financial planner Jeannie Boyle of EQ Investors, Jack Chellman chief project officer of the innovative Global Returns Project and David McIntosh of chief executive of ShareGift – a brilliant service that has turned the shareholding equivalent of spare change into more than £50 million in donations to UK charities since 1996.

Listen now

Once upon a time, philanthropy was something that only the very wealthiest would consider. But in this season of goodwill – and in a world that doesn’t half need it – find out why that’s no longer true – and how paraplanners can help clients put their money to work in powerfully positive ways more easily than ever before.

Useful links

Grab your CPD certificate for watching or listening to this Assembly by visiting the link below. We’ve also included a PDF of Jack's stats plus link to the podcast episode.

CPD: Request your certificate

Download: Jack's stats on client appetite for giving (opens PDF in new browser tab)

Watch the Replay on Crowdcast (includes Chat) or on Vimeo (no Chat)

Visit the event page

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Picking up where they left off in November, Sarah, Ellie and host, Richard Allum, explore a topic that every aspiring and existing leader will experience during their career: difficult conversations. 

Sarah shares ideas and techniques that can help paraplanning leaders successfully prepare for and navigate discussions that you might otherwise dread.

During the second half of this episode, our guests focused on questions, ideas and topics raised by paraplanners during the first Assembly.  

But whether or not you joined Sarah and Ellie last time, and haven’t had a chance to listen or watch it on catch up yet, you’re sure to gain plenty to inform your reflections on successful leadership by tuning into this discussion.

Useful links

Make sure you grab your CPD certificate for watching or listening to this Assembly by visiting the link below. We’ve also included links and downloads that Sarah, Ellie and Richard mentioned during this Assembly.

CPD: Request certificate

Slides: What kind of paraplanning leader could I be?

Watch this Assembly on Crowdcast

Watch this Assembly on Vimeo

To catch up with the first Assembly in this series you can watch the replay on Crowdcast or listen to the podcast episode. You find all the links mentioned in that episode at the event page.

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Which is why you should tune in to this eye-opening conversation with Sarah Coles, Parmenion’s head of cyber and resilience. 

As a seasoned cybersecurity expert, whose blog posts have acquired almost cult status among readers of the Assembly's monthly newsletter, Sarah has spent a decade protecting wealth management professionals and practices. In this conversation with host Richard Allum, Sarah shares five practical tips that will help shield you and your business from a world of cyber threats.

Want to know why storing passwords in your browser might be riskier than you think? Or why relying on SMS codes for two-factor authentication could leave you vulnerable? Sarah breaks down complex security concepts into actionable steps you can implement right away.

In fewer than 30 minutes, you'll discover:

• Why length matters more than complexity for password security
• The truth about backup solutions (no, Dropbox sync isn't enough)
• How to spot sophisticated phishing attempts that can fool even experts
• Simple ways to protect client data that meet regulatory requirements
• Real-world examples of common security mistakes and how to avoid them

Whether you're a solo paraplanner or part of a larger team, this conversation offers valuable insights for protecting not only your practice and your clients' sensitive information but your personal information too. 

These days, good security isn't just about the tech you use. It's about developing smart habits that become second nature. Tune in and, in half an hour, you could be setting out on a lifetime of freshly minted healthy cyber security habits.

Useful links

Catch up with Sarah’s cyber security posts at Parmenion’s blog

Sarah mentioned Parmenion’s regular email. To subscribe, visit Parmenion’s homepage, scroll down and click the link under ‘Sign up to our latest insights’ section.

Richard mentioned 1Password a number of times – even though he’s not on their payroll! – which is a password manager app that works on any of your devices as an app and in your browser.

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Scottish Widows’ pensions specialist (and Big Day Out 2024 ‘Quiz the Expert’ alumnus), Gareth Davies, joins host, Richard Allum, for the follow-up to his popular ‘Is there a recipe for successful retirement income advice?‘ Assembly which we held back in June.

Why a second helping?

An unbelievably busy Chat meant that Gareth fielded a fair few comments and questions which left too much ground to cover in just one lunch hour. So Gareth agreed to come back later in the year to conclude his survey of the retirement advice landscape.

In this concluding Assembly, Gareth and Richard…

• Revisit the annuities vs. drawdown debate - examining the case for ‘annuities plus drawdown’, exploring the latest annuity features, and discussing strategies for annuitising fully crystallised pension pots.
• Dig into pension death benefits: they’ll consider the options and potential pitfalls of death benefits – plus focus on the importance of nomination forms and their regular review.
• Assess the effect of regulatory change: if there’s time, they’ll consider how the FCA’s thematic review is influencing retirement income advice, what it may mean for centralised retirement propositions, and what it means for your ongoing assessment of suitability.

It makes for a lunch-hour Assembly that’s packed with valuable insights and practical ideas that you can apply to client cases right away.

Useful links

Don't forget to grab your CPD for tuning into this Assembly. Just add your details to the survey and the certificate will be emailed to you within an hour.

In case you haven't heard it, you can hear Gareth's appearance in Is there a recipe for successful retirement income advice? from June 2024. You can also find all the links for that session at the event page.

Gareth mentioned HMRC's technical consultation on IHT on pensions and, in the chat, Nick Bromhall posted a link to the HMRC IHT Manual which has helpful information about gifting out of income.

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Perhaps you’ve been thinking about stepping into a leadership role in paraplanning. Or you’re already managing others and want to build your skills. Either way, this specially extended Assembly is for you.

Why?

Over 90 minutes, Aegon UK’s learning and organisational consultant, Sarah Purves, and Succession Wealth’s recently appointed paraplanning team leader, Ellie Welling, joined host, Richard Allum, to explore the paraplanning leadership and how you can make the step into that role with confidence

Throughout the Assembly, Sarah invited Ellie and Richard (and the Chat) to try out a series of exercises to help you:

• identify the paraplanning leadership qualities you already have (you might be surprised)
• discover your natural management style by learning from what’s worked (and what hasn’t) with your own managers
• get better at those tricky conversations that come with leading others
• build a practical toolkit you can use straight away to have more impact in your role

Plus Ellie and Richard shared their own experience of moving into leadership roles – what they’ve learned, what they wish they’d known, and how they have developed their own approach to managing a team.

It’s an Assembly that’s specially designed so you can:

• reflect on the challenges of leadership without
• learn from the experience of others at different stages of their career
• gain practical tips you can actually use right away
• work out if leadership is right for you and what it could look like
• ask questions you’ve always wanted to ask about managing others

Tune in now

There’s no magic formula for becoming a leader. But there are tools and techniques that really work. No matter whether you’re a freshly minted paraplanning leader or have many years’ experience behind you, there are bound to be ideas and insights in this conversation that will help you.

Useful links

There are loads of links from this Assembly and we’ve listed them below. Most important though: make sure to grab your CPD certificate for watching or listening to this Assembly. Follow the first link in the list,

CPD: Request your certificate

Slides

Sarah's slides: What kind of paraplanning leader could I be? (downloads a PDF)

Sarah’s slides mention lots of recommended books, courses, talks and listens. You'll find links to them all (plus every other conceivable link for this Assembly) at the event page. (Scroll all the way down and you'll spot the list.)

Watch this Assembly

If you'd like, you can watch the Replay on Crowdcast (includes the Chat) or view the video on Vimeo too.

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As well as the fact that Rachel Reeves made history by becoming the first woman to deliver a budget as Chancellor of the Exchequer, were there measures that are sure to feature when Budget history is written?

Or were the widespread jitters among savers and investors ill-founded as Labour delivered its first Budget since Alistair Darling’s on 20 April 2010 – no fewer than 5,334 days earlier.

What actually happened?

Were the headlines screaming about capital gains and inheritance tax? How about pension tax relief and fuel duty? Or national insurance and the British ISA? Perhaps even VAT on school fees or measures affecting non-doms? And what about a wealth tax?

Les was on hand to offer his thoughts and insights, and address lots of questions and comments posted by paraplanners in the Chat.

So did it turn out to be one of the most consequential Budgets of recent years? Was it more of a ‘pitch-rolling’ statement in preparation for future measures? Or something else altogether?

Tune in and find out.

Useful links

Once you’ve listened to the podcast, take the quiz at M&G Wealth’s site to receive a certificate for your CPD records:

Take the quiz at M&G Wealth’s episode site

If you'd like, you can watch the Replay on Crowdcast (includes the Chat) or view the video recording on Vimeo too.

Other useful downloads mentioned during this Assembly include:

M&G Autumn Budget Summary

M&G tool for extracting company profits

M&G Tax Wrapper Comparison Tool

Les also mentioned HMRC’s Technical consultation - inheritance tax on pensions. That link will take you straight to seven worked examples in Annex 6.

In addition, Les mentioned M&G Wealth’s Adviser guide: Financial Planning with small and medium-sized enterprises (opens a PDF) and briefly referred to last August’s online Assembly on Investing for business these days

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That’s the question that host Leanne Pickering of Pivotal Paraplanning and James Jones-Tinsley of Barnett Waddingham tackle in this Assembly. 

Together, Leanne and James explore how Budget changes contained in the Finance Bill are transformed into client advice - from Parliament, through providers, paraplanners, and other advice professionals - ensuring compliance with the latest laws and regulations.

Along the way, they explore examples of when things go well (like the pensions industry’s prep for A-Day) and when they don't (the ongoing saga of lifetime allowance abolition). 

You'll learn about the stages that the Finance Bill must pass and why some changes can happen overnight while others take months to implement. Plus Leanne and James share some ideas about client questions during periods of uncertainty including sources of information that can be helpful.

Whether you're puzzled by parliamentary processes and want to understand more, or just want to brush up on your knowledge of how Budget measures become a feature of your daily work, this conversation offers you a really accessible and interesting primer.

Useful links

During the conversation, a number of sources of useful Budget information are mentioned, so here they are.

James is a fan of the HM Treasury website and the HMRC’s Pensions Tax Manual  

He also mentioned the Pension Management Institute’s website - and Leanne coaxed out of him the fact that he’s appearing on post-Budget webinar 2024 Budget and its impact on pensions at 3pm on 30 October

For outsourced paraplanners, Leanne recommended looking out for WhatsApp groups – plus technical insights and briefings published by providers including Barnett Waddingham and M&G Wealth 

And there’s the Paraplanners’ Assembly’s Big Tent, of course, where you can often find technical experts – whether they work for providers, or as in-house or outsourced paraplanners – offering their insight, knowledge and expertise. 

For more on the parliament end of things, the Institute for Government has a fantastic searchable database of explainers, including this one on Budgets

You can track the progress of any Bill that is before Parliament using parliament.uk's Parliamentary Bills page

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After all, it’s an area of advice that is coming under some significant regulatory attention. Because not only is it the subject of a thematic review but the arrival of The Consumer Duty has also turned the spotlight on the suitability of advice too. 

Retirement income advice: why all the fuss?

The last few years witnessed big challenges for paraplanners seeking secure incomes in retirement for clients thanks to significant economic and political events.  

First there was pension freedoms and the surge in drawdown strategies. Next, rising inflation and interest rates conspired to squeeze income during the cost of living crisis. And that crisis prompted the search for secure income and a revival of annuities.

The paraplanner’s dilemma

But what’s the right balance between drawdown and secure income strategies? (Is there a balance to be struck at all?) What steps can you take so your client won’t simply run out of money? And how can you be sure that the FCA will agree that your approach to retirement income is consistently suitable?

Patrick’s practical planning pointers

That’s where our guest expert at this Assembly, Parmenion‘s head of strategic partnerships, Patrick Ingram, comes in. Because Patrick shares some practical ideas that you apply straightaway to cases, and offers insights that will help you think through the planning challenges.

Among the areas that Patrick and host, Richard Allum, cover in this lunch-hour Assembly are:

• analytical drawdown advice for clients spending money in retirement 
• why managing drawdown is different to wealth management 
• the importance of secure income ratios in drawdown planning 
• the ‘4% rule’ versus current annuity rates

Useful links 

To receive a certificate for one hour’s worth of CPD, follow this link – Receive my CPD certificate 

You can also watch the replay of this Assembly at Crowdcast or at the event page

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You can’t beat a good case study or two for discovering and consolidating technical knowledge, insights and practical ideas. 

So you’re going to love this special episode in which Steve Sayer of Utmost International explores not one, not two, but three case studies that – together – spotlight essential planning considerations for clients who have spent time overseas, and have invested abroad or hold offshore bonds.

Because in this hour-long case study investigation special, Steve steers us through time apportionment relief, personal portfolio bonds and deficiency relief.

Time apportionment relief: The lion’s share of the recording focuses on time apportionment relief – a vital consideration for clients who spend time abroad or return to the UK with existing investments. Steve shows how pre- and post-2013 rules can significantly impact tax calculations, explores the potentially valuable concept of 'material interest periods' and covers plenty more besides.

Personal portfolio bonds: Using case study scenarios, Steve illustrates the potential pitfalls of non-compliant policies and the hefty tax implications of deemed gains.

Deficiency relief: Steve offers a comprehensive overview of the applications of deficiency relief and considers its limitations.

It’s no accident that Steve’s sessions are some of the most popular among paraplanners. His forensic knowledge, clarity of explanation and use of case studies bring topics to life and make episodes like this a must-watch or listen.

Useful links

To receive a certificate for your CPD records plus a link to download a copy of Steve’s slides, follow these links:

Request a CPD certificate

Download Steve’s slides

Browse previous Assembly sessions at Utmost’s site

Visit the Utmost Technical Academy webinar series

Steve mentions two technical briefings that are available at Utmost's site. Here are the links:

Tax planning using bonds – Time apportioned reductions

You can also watch the video either at the event page or on Vimeo.

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Upbeat? Pretty neutral? A bit meh?

Well wonder no more as Craig Spittal of Scottish Widows reveals the findings of Scottish Widows’ latest annual survey of paraplanners in the UK.

Craig and host, Richard Allum, are joined by paraplanners Ceetal Katechia of PSA Financial Services and Sarah Lees of Forvis Mazars to discuss findings that fresh off the press. In this lunch-hour Assembly conversation covered

• the changing demographics of the UK’s paraplanning population 
• the most common misconceptions about paraplanning as a career
• what challenges are adding the most weight to paraplanners’ workloads  
• how your paraplanning peers are feeling about role of technology – including AI
• how regulatory change – such as The Consumer Duty – is affecting the day job
• what paraplanners think about potential change in future e.g. an independent pensions policy body 

For a long time, paraplanners (and paraplanning) were lucky if they received even a passing mention in the conclusions of surveys of advice professionals in the UK.

So this online Assembly – packed with findings from original research commissioned and conducted only among paraplanners – doesn’t just offer a really clear snapshot of how paraplanners are feeling about the world of advice today, it also offers us all a chance to reflect on what’s affecting our profession and help focus our minds on how we’d like to shape our profession in the future.

Useful links

The team at Scottish Widows has created a mini-site to support this event where you can take a quick quiz to receive a CPD certificate for your records. To grab your CPD, follow the link below.

Grab your CPD

Read the report: 'Paraplanning redefined'

Craig's slides: Paraplanning redefined (opens PDF)

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And that’s especially true when it comes to getting to grips with the complexities of inheritance tax (IHT) calculations.

Which is why you’re going to love our latest podcast episode: a case-study led online Assembly that’s all about calculating IHT.

Recorded on 20 September, host Richard Allum is joined by Graeme Robb from M&G Wealth as he guides us through a case study in which he will break down each stage and address common misconceptions. During the lunch-hour Assembly, Graeme covered:

• Nil rate bands: how nil rate bands come into play and their place in calculations
• Failed PETs: learn how to bring failed potentially exempt transfers (PETs) back into the equation
• Chargeable lifetime transfers: discover the impact of transfers requiring a 14-year look-back period
• Allowances on Death: explore the various allowances that can be factored into calculations if unused
• Taper relief: how it actually works - it's not what many think!
• Charitable gifts: unpack the 36% band for charitable gifts and find out how to calculate it correctly
• Deeds of variation: understand their influence on IHT calculations
• Tax Responsibility: who's actually responsible for paying the calculated tax

How does that sound? Tune in now.

Useful links

M&G Wealth has created a mini-site to support this event where you can take a quick quiz to receive a CPD certificate for your records. To grab your CPD, follow the link below.

Grab your CPD

Slides: Cracking the IHT code

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In this bite-sized Assembly, Transact’s Glen Sweet reveals all.

You'll learn how a platform like Transact calculates the aggregate interest earned across a client’s daily trading and longer-term deposit accounts. And also that, because of differences in charging from platform to platform, it’s important to take a closer look at whether and how charges affect interest returned to clients.

If you’re interested in fixed-term deposits on platforms, Glen covers that too.

And let's not forget about HMRC. Glen explains how different wrappers handle cash interest – from tax-free ISAs to the more complex general investment accounts (GIA).

And finally, did you know there’s a trend among some businesses in the UK – at least at the time of publication in September 2024 – to move corporate cash on to platforms? Tune in to find out why.

Hosted on Acast. See acast.com/privacy for more information.

So, whether you've been neck-deep in its implementation or still feel like you're getting to grips with it, this lunch-hour Assembly asks how we’re all getting on with it.

To explore the topic, we were joined by founder of Compliance and Training Solutions (CATS), Mel Holman, and Tom Lloyd-Read, technical planning manager at Stonehage Fleming.

Mel has been providing advice and implementation support to a range of organisations while Tom has been deeply involved in implementation of the Duty within his firm.

Over the course of the lunch-hour Assembly, we covered:

* real-life experiences of implementing The Consumer Duty

* practical approaches to demonstrating client understanding

* the ongoing challenge of defining and proving value

* how firms are adapting to support vulnerable clients

* the impact of the retirement income review

What's more, we also touched on cashflow modelling assumptions, dashboards and gap analysis.

Of course, being an Assembly, not only did attendees tune into the conversation, but they also shared their thoughts and ideas on what's working, what's not, and where firms are still figuring things out in the chat.

If you missed this hour's worth of thoughtful insights and practical takeaways, keep an eye out for future events where we'll continue the conversation on The Consumer Duty and other important industry topics.

Useful links

Here are some useful links and resources that were mentioned during the recording of this online Assembly:

Here's Mel's consultancy's website: Compliance and Training Solutions (CATS)

And Tom is technical planning managers for Stonehage Fleming. Here's their site: Stonehage Fleming

Mel mentioned The Lang Cat's The meaning of value report with Royal London and also recommended watching the FCA's webinar The Consumer Duty: One year on. It was held on 31 July but you can register to access the recording.

Meanwhile, here's the Consumer Duty page at the FCA's website. Finally, Richard asked Mel about the FCA's thematic review of Retirement Income Advice

Watch the replay of this Assembly at Crowdcast or Vimeo

Grab your CPD

If you'd like to receive a record of listening to this podcast for your CPD, follow this link: The Consumer Duty CPD

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So this special case study investigation, which features not one but two client examples, is bound to be right up your street.

Because in this 50-minute episode, Utmost International’s Steve Sayer joins host, Richard Allum, to explore why reversionary interest trusts (RITs) combined with the available nil rate band (NRB) threshold, can become a powerful and flexible feature of a client’s IHT strategy.

In a conversation that’s packed with practical insights, ideas and expertise, tax and trusts expert Steve unpacks two case studies which will help you:

– understand the mechanics and key features of a RIT

– consider planning opportunities using RITs especially in conjunction with other options

– be able to discuss and explain RITs and NRB with a client in a clear and concise way

– apply this knowledge to appropriate, individual, client scenarios

Whether you’re a seasoned paraplanner who wants to keep your knowledge fresh or the role of RITs in IHT planning is new territory for you, we’re sure you’ll enjoy the hands-on learning offered by this expert discussion.

Useful links

Download the slides referred to in this case study investigation. Just listen out for the bell to follow along.

Download slides (opens a PDF)

CPD: complete the form and receive a certificate

Vimeo: watch this case study investigation

Utmost x Paraplanners' Assembly: all our previous sessions

Utmost Technical Academy webinar series

Hosted on Acast. See acast.com/privacy for more information.

But settling on the best strategy can be complex – especially when missing a vital detail can have costly consequences.

So what can you do about it?

Stay up to date with the latest thinking, that’s what.

Which is why Neil Macleod, senior technical manager at M&G Wealth, joined us to explore death and trusts and paraplanning.

During this lunch-hour Assembly, Neil covered:

• the types of trusts that can be created upon a person's death
• how to spot different trust structures and what this means
• the income tax and capital gains tax treatment of trustee investments
• strategies for selecting appropriate investments for specific trusts
• practical approaches to providing investment advice to trustees

What will I learn from this online Assembly?

By the end of this Assembly, you'll be able to:

• identify the types of trusts which can be created on a person's death
• describe the income tax and CGT treatment of trustee investments
• identify appropriate investments for a particular trust

No matter how complex the cases you deal with, this is a great chance to tune in to Neil’s expertise, and get up to speed on death and trusts.

Useful links

Want a record for your CPD PLUS Neil’s slides? Then follow this link: 'Death. Trusts. And paraplanners.' event page at M&G Wealth

For M&G Wealth's Technical Hub visit: Technical Hub

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Because despite being citizens of the 'land of the free', once they leave the USA's shores, expat savers and investors often face complex challenges to stay on the right side of the US equivalent of HMRC: the Internal Revenue Service (IRS).

So what do paraplanners in the UK need to know to support US expat clients? Who better to ask for expert knowledge and insight than a specialist in investing for US expats: Canaccord Genuity's Laurence Leigh.

In this bite-sized Assembly, Laurence explores:

• The unique tax challenges facing US citizens abroad – including worldwide taxation and annual IRS returns
• Investment limitations and potential pitfalls, such as the risks of UK ISAs and non-US listed funds
• Solutions for compliant investing – including US-recognised structures and expert portfolio management

In just ten minutes, Laurence covers the dos and don'ts of advising US expats, the limitations of UK platforms, and the severe penalties for non-compliance.

It's an episode packed with practical advice that will give you confidence in ensuring US expat clients can invest effectively and stay compliant on both sides of the Atlantic.

Useful links

Canaccord Genuity's US investment service

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In a bite-sized Assembly lasting less than eight minutes, Brian explores transition certificates, new lump sum allowances, and why timing is everything when it comes to crystallising benefits. Plus he discusses the importance of understanding provider restrictions.

If you’re in the market for a post-LTA primer but are pushed for time, this Assembly is ideal.

Hosted on Acast. See acast.com/privacy for more information.

What had changed and what could paraplanners do?

Today, high interest rates and stubborn inflationary pressure, coupled with greater regulatory scrutiny courtesy of The Consumer Duty and the FCA's retirement income review, make for altogether more changeable weather.

So how are paraplanners expected to make forecasts and hatch plans that will deliver sustainable incomes for clients in their retirement? Plans that stack up under scrutiny - and against the demands - of The Consumer Duty?

During this lunch-hour Assembly, we were joined by Gareth Davies from Scottish Widows, who not only explored these issues but dug into other considerations that could influence paraplanners, advisers and clients when thinking about accumulation and decumulation strategies.

No matter what your experience or expertise as a paraplanner, this 60-minute session offers insights and ideas when considering options for successful and sustainable income in retirement for your clients.

Useful links

Here are links that were mentioned by Gareth and Richard – and contributors in the Chat:

The Platform Paraplanner Room

Scottish Widows' TechTalk

Picture your future

Our cashflow Assembly with Patrick Ingram

Receive a CPD certificate

Watch the replay in Streamyard

Hosted on Acast. See acast.com/privacy for more information.

During a 20-minute conversation, Tom explains the basics of bonds and gilts, how interest rates affect their values, and how the recent spikes in interest rates have affected returns and revived annuities – putting an end to years of fixed interest investments’ appearing to be ‘uninvestable’.

The likelihood of lower inflation combined with potential interest rate cuts is positive for fixed interest markets.

But Tom is keen to stress that all bonds aren’t created equal and he offers his thoughts on where – depending on the risk appetite of your clients – opportunities might lie across a spectrum of fixed interest investments, from government debt to high-yield credit.

For paraplanners looking to get a handle on this significant but possibly misunderstood asset class, this bite-sized Assembly offers valuable insights to help navigate the fixed interest landscape.

Useful links

Here are some links for this bite-sized Assembly, including the slides that Tom refers to during the conversation. Listen out for the bell to move to the next slide.

Slides: Fixed interest investments for Paraplanners' Assembly

Canaccord Genuity's website

Video: watch on Vimeo

Hosted on Acast. See acast.com/privacy for more information.

In less than six minutes, Stuart explains how platforms and MPS providers are able to handle access to client accounts and data securely and confidentially, how portfolio rebalancing works in practice, practical considerations around capital gains tax, and how clients are invested into the model portfolios.

Hosted on Acast. See acast.com/privacy for more information.

So we thought it was high time to fix that with a whistle-stop tour to discover why investing in AIM is right up there as a strategy for IHT planning.

Whether you’re new to paraplanning and in search of a primer, or you’ve been paraplanning for absolutely ages and want to make sure you really know what you’re talking about, tuning into this Assembly will be well worth your while.

To help us navigate the topic we were joined by the ideal tour guide: Canaccord Genuity’s senior investment director and head of IHT investments, Paul Parker. During our lunch-hour gathering we explored:

• why AIM is so appealing for IHT planning
• business relief and how it works
• why AIM has a reputation for riskier investments
• how clients can invest in AIM – investment managers and DFMs
• researching the suitability of AIM portfolios and their managers
• things to consider when designing an IHT strategy using AIM

As ever, the chat was open for paraplanners to pose questions, or share ideas and observations – and the quality of contributions was great!

Useful links

Here are some useful links that cropped up during this Assembly – including the slides that Paul referred to and a link to MICAP, an alternative investment research tool mentioned by a number of contributors in the Chat.

Watch the Replay on Crowdcast

Paul's slides: AIM for IHT for Paraplanners' Assembly

Canaccord Genuity's IHT portfolio service

Canaccord Genuity's IHT portfolio documents for clients

MICAP's alternative investment research tool

Hosted on Acast. See acast.com/privacy for more information.

Why? Because two years ago, the Bank of England had raised interest rates to break a 1% ceiling that had been in place since February 2009.

Ten more rate rises followed. Inflation peaked at 11.1% in October 2022. The result for many investors, savers, borrowers, and anyone who bought anything, quite frankly, was a cost of living shock.

Moreover, the already unfamiliar effect of rising living and housing costs was compounded by a fiscal drag that was set to squeeze the spending power of many taxpayers: any gains in pay evaporated as personal allowances remained stubbornly static.

So the chances were that we were all living in a 'new normal' – and many would have said we were experiencing a reversion to pre-2008 financial crash 'normal'.

Cashflow forecasting in the 'new normal'

What did all that mean? Well, after 15 years of low rates and barely perceptible cost of living rises, predicting the future with any confidence suddenly felt a lot more…unpredictable.

Once ultra-reliable features of a paraplanner's toolkit didn't seem half as straightforward as they once did. And that included one of the foundational elements of any financial plan: cashflow forecasting.

So in a world that continued to be beset by economic, political, and environmental uncertainty, what did a paraplanner need to know to produce a cashflow forecast that wouldn't dissolve on contact with reality?

Takeaways from this lunch-hour Assembly

Patrick explored ways of thinking about cashflow and forecasting which relied less on predicting the future and more on preparing for it. We covered concepts including:

• causes and effects of fiscal drag
• capacity for loss
• cash budgeting
• wealth ratios
• cashflows and the consumer duty

It was a 60-minute session that offered a stack of insights and practical ideas that could be applied to client cases right away – plus a discussion that underlined just how vital conversations about cashflow with clients could be.

Useful links

Here are some links we thought you’d like. To watch the replay on Crowdcast, follow the link and tap ‘Save my spot’ to view the recording.

Patrick's slides: Patrick Ingram: cashflow modelling visuals

Bank of England daily estimated yield curves

Want a record of your attendance today for your CPD? Follow the link, add your details and we’ll email you a personalised certificate: Get your CPD

Watch the replay on Crowdcast (includes Chat)

Hosted on Acast. See acast.com/privacy for more information.

But no matter how experienced a paraplanner you may be, working out the best way to make use of the relief, and getting the top slicing calculations right, can be tricky.

That’s why we think this case study investigation (CSI) on top slicing will be right up your street.

In this 45-minute special on top slicing, Utmost International’s technical sales manager, Steve Sayer, joins The Paraplanners’ Richard Allum, to pick his way through a case study featuring fictional client, David. 

Designed to give you the chance to consider the financial planning opportunities from all sorts of angles, this CSI will help you:

• understand how top slicing relief works and when it can be applied;
• calculate top slicing relief as accurately and tax efficiently as you can;
• work out strategies to assign bond segments to spouses or beneficiaries to reduce tax liabilities;
• understand how pension contributions can be used to save tax and maximise relief; and
• navigate how bond gains, personal allowances, and other sources of income work together

Whether you’re new to top slicing relief or are a seasoned pro, it never hurts to top up your knowledge and know how – especially when it can make such a big difference to a client’s financial plan.

Useful links

Download the slides referred to in this case study investigation. Just listen out for the bell to follow along.

Slides: Case Study Investigation - more top slicing relief (opens PDF)

CPD: take the quiz and receive a certificate by email

Utmost x Paraplanners' Assembly: all our previous deep dives

Utmost Technical Academy webinar series

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We ran out of time for Les to deal with a large number of questions in the chat at the main Assembly session, so Richard and Les met up later to address the questions instead.

To watch the online Assembly session visit https://www.crowdcast.io/c/beeglny38q63

You can listen to the podcast episode featuring Les's guide to the new allowances landscape here

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Well you could tune into this recording of our Assembly with Les Cameron on 24 April 2024 for starters.

Because M&G Wealth’s head of technical took us on a guided tour of the new allowances regime following the abolition of the lifetime allowance (LTA).

During this lunch-hour event, hosted by Richard Allum of The Paraplanners, Les explored what has changed, what matters, and what it all means for you and your clients.

Useful links

Here are useful links and downloads from this event. M&G Wealth have created a dedicated page for this event where you can take a quiz to receive a record for your CPD. Just follow the link to grab your certificate.

Les Cameron's guide to the new allowances landscape at M&G Wealth

Les refers to slides throughout this Assembly which you can download here:

Slidedeck: Quite simply - the new pension allowances

Finally, Les mentioned M&G Wealth's transitional tax free amount tool, which is available here:

M&G Wealth’s transitional tax free amount tool

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Jonny Stubbs of LIFT Financial and Benjamin Fabi from Principled Paraplanning joined host, Richard Allum, for an online Assembly exploring how paraplanners are adapting to - and adopting - AI tools.

As well as learning about real-life examples of the role AI is already playing in paraplanning, this Assembly offered participants a chance to share their hopes, fears and experiences of the technology. By gathering together, we wanted to discover what paraplanners' are thinking and feeling about AI, and begin to understand how it could affect our day-to-day work.

Useful links

Early on in the podcast, Benjamin, Jonny and Richard run through some slides which summarise some of the commonly used jargon. That doesn't work brilliantly on audio but here's a PDF of the defintions they ran through:

AI jargon buster (PDF)

Later on, Jonny and Benjamin also share examples that illustrate the difference in results depending on the quality of prompts. Here are the examples they shared:

Benjamin's boiled egg example (PDF)

Jonny's report content example (PDF)

The Royal Institution Christmas Lectures 2023: The Truth about AI

For UK viewers: BBC iPlayer

For the rest of the world: YouTube

Open online courses on AI

Online learning platform, FutureLearn, offers a range of courses that you can choose from to get familiar with AI

FutureLearn

Tools mentioned in the recording and Chat

ChatGPT by OpenAI

Claude by Anthropic

Copilot by Microsoft

Saturn

PPOL suitability report builder

Watch the replay at Crowdcast

You can watch the full replay and read the comments in the - very active - Chat over here:

https://www.crowdcast.io/c/2xfo2f2o459r

Visit the event page

paraplannersassembly.co.uk: Paraplanning in the Age of AI

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Over the course of one lunch-hour, Les explored what Jeremy Hunt’s Budget statement meant for things like inheritance tax, non-dom status, national insurance, lifetime allowance, annual allowance and pretty much any other allowance you can think of.

How many of the Budget measures trailed in the media in advance of the Chancellor’s speech actually materialised or turned out to be Treasury sleight of hand?

As regular Assembly participants know, Les absolutely loves fielding questions on tax and investing (especially from paraplanners) so tune into to see what issues cropped up.

Useful links

Grab a record of attendance for your CPD visit the dedicated event page for this Assembly at M&G Wealth’s Tech Matters site.

Hosted on Acast. See acast.com/privacy for more information.

Coming just a week after the Budget statement on 6 March, a little over a fortnight before tax year end, and while the Finance Bill from last October’s statement is still making its way through Parliament, it was the ideal time to tune in to what you really need to know as the tax year hits its paraplanning peak.

To help, we gathered together a stellar panel of experts to share their knowledge and know-how: Les Cameron from M&G Wealth, James Jones-Tinsley of Barnett Waddingham and Transact’s Brian Radbone. (Scottish Widows’s Tom Coughlan, was due to join us but technical gremlins proved too much of an obstacle.)

It's an hour-long discussion laden with lashings of insights on allowances, reliefs and exemptions spanning pensions, ISAs, capital gains tax and inheritance tax (and everything in between).

Useful links

Watch the replay on Crowdcast: https://www.crowdcast.io/c/rcm49qyvcyz6

Hosted on Acast. See acast.com/privacy for more information.

The Lang Cat’s Steve Nelson joined us to reveal insights gathered from paraplanners who responded to the research and communications consultancy’s annual State of the Advice Nation survey of advice professionals.

Despite being in its sixth year, this is the first time that The Lang Cat has cut the survey’s data to reveal paraplanners’ perspectives.

And to explore what the study tells us, Steve and Assembly host, Richard Allum, was joined by two leading outsourced and in-house paraplanners – Alan Gow of Argonaut Paraplanning and Jackie Manning from Evelyn Partners. 

Together they asked what this year’s results reveal. The conversation:

• revealed a surprising finding (to The Lang Cat team, at least) about clarity of communication between advisers and paraplanners 
• reflected on how the attitudes and sentiment towards some of the biggest issues in the sector are more aligned with the rest of the profession than you might expect; and
• explored attitudes towards technology – and AI in particular.

In a confessional post at The Lang Cat’s site back in November, Steve admitted that he’d wished he’d explored paraplanners’ perspectives a while back. 

Well now he has.

Useful links

You can download Steve’s slides here 👉 https://bit.ly/3Td4dSU (opens a PDF)

To take part in The Lang Cat’s research panel visit 👉 https://bit.ly/4bVcodW, scroll down and add your details ✍ in the ‘Take part’ box that looms into view

Once you've listened to the podcast, if you'd like a record for your CPD, help yourself here 👉 https://bit.ly/49yqv7i

Hosted on Acast. See acast.com/privacy for more information.

What did we cover?

As well as recapping what firms are expected to do about the Duty, Caroline and Heather also considered what they could do thanks to the opportunities it presents. Over the course of the lunch-hour session two significant themes emerged:

how firms are demonstrating the value of their advice; and

how to prove that clients really understand what they can expect from their financial plan

To bring the topic to life, Heather shared insights from consumer research recently carried out by Next Wealth (see the downloads below) which reveals what clients value – essential intel for 

With its focus on practicalities of implementation illuminated by evidence from original research, it proved to be a really informative and engaging hour.

Useful links

Heather refers to a set of slides during the Assembly. Here they are:

NextWealth - The Consumer Duty (opens PDF)

Want to take part in future research by NextWealth? Join the panel here:

https://www.nextwealth.co.uk/research-panel/

Follow this link to receive a personalised certificate to add to your record of CPD:

https://bit.ly/47YwVLe

Heather mentioned the Financial Advice Business Benchmarks Report (FABB). Here's the latest edition:

https://www.nextwealth.co.uk/research/financial-advice-business-benchmarks-report-2023/

NextWealth's website

nextwealth.co.uk

Caroline’s site/s

sparrowparaplanning.co.uk and sparrowsols.co.uk

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But more recently, roller-coaster interest and inflation rates, combined with pandemics and wars, could leave you thinking that the future is altogether more unpredictable.

But is it?

Assumptions that are fit for purpose

During this online Assembly, Dan Atkinson and Richard Allum explore ways to think about planning assumptions in future.

They consider the kind of indicators that can form a set of assumptions with the durability to withstand those periodic headwinds sparked by social, economic and environmental events – the kind that have dominated our lives lately.

Of course investments are important but healthspans, death, inflation, spending, retirement, care and more have the potential to feature.

And then there are clients with specific outcomes in mind to add to the mix – for instance, meeting school fees, saving to offset childrens’ university tuition fees or deposits for their first homes.

Links

Dan and Richard referred to loads of sources of information throughout this Assembly. We've posted them at the event page but thought we'd add them here too:

Links

ONS: mortality in England and Wales ➔ https://bit.ly/41tRNbE

ONS: life expectancies ➔ https://bit.ly/4aFEHwr

ONS: life expectancy calculator ➔ https://bit.ly/3tfKCYd

Inequalities in life expectancy ➔ https://bit.ly/48fzv06

🥕 Carrot price ➔ https://bit.ly/4avnDcn

🥬 Brussels sprouts price ➔ https://bit.ly/48fzGZk

Guaranteed income: a licence to spend ➔ https://bit.ly/48lX7A8

Downloads

IFP briefing paper on assumptions ➔ https://bit.ly/41r9R6l (opens PDF)

FCA product projections and transfer value analysis ➔ https://bit.ly/3GPs5oB (opens PDF)

Rates of return for FCA prescribed projections ➔ https://bit.ly/3v5T6BD (opens PDF)

Screengrabs

The wealth effect in later life ➔ https://bit.ly/3NyMNwL (opens PNG image)

UK inflation from 1210 to 2000 ➔ https://bit.ly/3tlD5qJ (opens PNG image)

UK inflation from 1950 to 2023 ➔ https://bit.ly/3GNkGpO (opens PNG image)

Private education fees ➔ https://bit.ly/3towJa1  (opens PNG image)

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Because Transact’s Sian Ayling and Brian Radbone explain all in this bite-sized Assembly in conversation with host, Richard Allum.

In fewer than 15 minutes, they recap the reasons why transfers became a thing in the first place, why it can be hard to predict the time it takes to complete some in-specie transfers (it’s not just faxes that get a mention here but physical post), and why electronic transfer providers – like Origo – are making a difference to the ease of transfers.

Along the way, Sian and Brian talk about the effect of new UK pension transfer regulations, designed to fight scams, on the pace of transfers between providers.

Tune in and you’ll discover just how much choreography is required to make platform technology perform.

Useful links

Richard said we’d include a link to The Pension Regulator’s guidance on transfer requests. Here it is:

Dealing with transfer requests

Recorded on 22 September 2023

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But how does rebalancing work from a platform’s point of view?

In the second episode of a three-part series on life behind the scenes at platforms,  Transact’s national sales manager, Stuart Fleat, walks you through the rebalancing process.

In just four minutes, Stuart explains how a platform calculates and processes sells and buys, how long it takes and how to check tax impacts upfront.

Note

We’ve tested a snazzy bit of tech to do some rebalancing of our own – to the sound for this episode. We’d love to know what you think so, whether you liked it or not, email hello@paraplannersassembly.co.uk and tell us what you think.

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Given our recent experience with high inflation, higher interest rates not to mention pandemics, wars and conflict, is there much point attempting to forecast the future?

Or put another way: what's the outlook for forecasting (geddit? 😉)

Tune in and you'll soon discover that Laurentius thinks three things are worth remembering:

1. active managers rarely outperform the market long-term. Investors should get low-cost market exposure rather than try to beat it;
2. missing just a few of the stock market's best days over decades can seriously affect overall returns. Timing the market is extremely difficult, so investors should stay invested; and
3. equities have created significant wealth over the past century and remain an essential feature of long-term financial plans.

What's more fixed income can help reduce volatility (and traditional asset allocation still makes sense despite recent volatility).

The takeaway? Long-term historic trends remain a pretty sound basis for forecasts despite recent volatility. And equities tend to reward patient investors with long time horizons.

Rather than market timing, appropriate asset allocation and risk management enable investors to endure short-term swings.

But don't take our word for it. Listen yourself now.

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To help us, host Richard Allum was joined by experts Rachel Geary and Murray Smith from Barnett Waddingham for a lunch-hour Assembly.

Together, they covered the technical, regulatory and legal issues that influence pensions and property serving up practical and valuable insights and ideas along the way.

Among the topics covered were:

• Why buy a commercial property with a pension?
• SIPP vs SSAS. What, why and when?
• Rules about property in a pension
• Technical and legal things to know about investing in commercial property with a pension
• FAQs. Which things crop up time and again?
• What can go wrong – and how to avoid it happening

For more details, visit the event page:

Property, pensions and paraplanning

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Have you ever wondered what goes on behind the scenes when you place a trade on a platform? In this bite-sized Assembly Transact's head of distribution, Glen Sweet, does just that.

In just FIVE minutes, Glen tells host, Richard Allum, all about trading points, settlement periods (including the difference between settlement of equities and funds), reconciliations, execution prices, trading windows...you get the idea. 

When you consider the intro takes about 60 seconds it's AMAZING how much insight and knowledge Glen packs in to his remaining 4 minutes and 23 seconds.  

So if you've ever wanted to lift the lid on the workings of a platform, tune in to this episode for insights galore!

Hosted on Acast. See acast.com/privacy for more information.

In just 15 minutes he offers a working definition of sequencing risk he brings the topic to life with an example of two fictional sisters who – despite enjoying identical returns over their 30-year retirement journey – experience starkly different levels of income during…all because of the consequences of sequencing risk.

What’s more, Laurentius explores pound cost averaging and ravaging as well as the ‘4% rule’. 

For paraplanners keen to top up on your investment know-how, it’s the ideal lunchtime listen.

Hosted on Acast. See acast.com/privacy for more information.

Join Barnett Waddingham’s James Jones-Tinsley as he takes us on a third exploration of old pensions jargon for paraplanners – that’s what.

James joins host Richard Allum to shed light on acronyms and concepts that paraplanners may encounter in the wild including FURBS, UURBS, cash balance schemes, the difference between final salary and career average, CARE, fluctuating emoluments and straddling PIPs.

Didn’t catch the previous two episodes in James’s popular plain English trilogy? Visit the post about this episode at our website to catch them there.

In part one, which was recorded in May 2022, James covered s226, s32, AVC, FSAVC, EPP, GMP, with profits annuities, GAR and SSAS.

And in part two, he lifted the lid on UFPLS, NMPA, master trusts v deeds, SERPS, S2P, QROPS, ROPS and TIEA. This episode was recorded in January 2023.

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Why? Because in his Budget statement to the House of Commons earlier this year, the Chancellor of the Exchequer, Jeremy Hunt, announced the removal of the amount you could hold in pension savings before becoming liable for tax.

And that’s quite the change. Because it’s not all that long since Hunt’s predecessors stood accused of levying ‘stealth taxes’ by freezing the LTA at to £1,073,100 – potentially exposing an influx of pension savers to tax liabilities thanks to the effect of inflation.

So with proposed legislation removing the LTA and introducing a rise in the annual allowance, doesn’t the future look rosey for pension savers and their pots?

Or do other proposed measures – like setting a limit of £268,275 on tax-free lump sums – muddy the waters a bit?

Well, that’s where Les came in. Because over the lunch-hour session he:

• recapped the saga of the lifetime allowance so far
• explained the changes that the government has proposed
• explored what’s already happened (and what’s still left to happen); and 
• considered what it all means for paraplanners working on retirement planning cases for clients.

Be honest. This stuff is like catnip to a paraplanner isn’t it?

Useful links

M&G Wealth have created a page on their website where you can download Les’s slides AND complete a brief test to obtain your CPD certificate for taking part. To visit, just tap the link below.

Slides and CPD

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Last week it was modern portfolio theory (you can watch or listen to after this). This week, investment strategist Laurentius takes on the topic of asset allocation.

Tune in and in less than 20 minutes you’ll have explored what asset allocation is and why it’s important. You’ll consider the characteristics of assets classes and what different types are.

What’s more, you’ll have dug into the question of whether asset class really are helpful if you want to diversify risk. Plus you’ll discover what the nature of the risks are.

Next, Laurentius tackles property and asks why real estate is important before setting out the potential routes to gain exposure to property in a portfolio.

Finally, he takes a look at the performance of real estate investment trusts vs global equities – including a brief look at the correlation between global equities and real estate and what it tells us about the nature of diversification benefits.

Download Laurentius’s slides

Throughout his talk, Laurentius refers to a slidedeck. Follow the link below to download the slides as a PDF.

Slidedeck: Asset allocation and diversification (opens a PDF)

About Laurentius

Laurentius van den Worm CFA joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.

Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.

Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.

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After a whistle-stop summary of the origins of modern portfolio theory, Laurentius introduces the five key principles driving the approach: risk and return trade-off, diversification, risk assessment and the correlation of assets.

And if you're wondering 'But that's just four principles!?', you'd be right. That's because Laurentius goes pretty deep into the fifth principle: the idea of the 'efficient frontier'.

First he looks at the efficient frontier in theory before seeing how it really plays out in practice (using Timeline's technology to illustrate it, of course).

Along the way, he considers criticisms of modern portfolio theory too.

Altogether, it's a great primer that's packed full of insights and information that will appeal to paraplanners at every stage in their career.

Download Laurentius's slides

Throughout his talk, Laurentius refers to a slidedeck. Follow the link below to download the slides as a PDF:

Slidedeck: Modern Portfolio Theory

About Laurentius

Laurentius van den Worm CFA joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.

Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.

Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.

Hosted on Acast. See acast.com/privacy for more information.

Even though the combination of a client’s capacity for loss and their attitude to risk are significant factors when you’re working on a case, Patrick shows why both ideas are so different – and what that means for clients.

He digs into ideas like ‘client balance sheet’ and ‘wealth ratios’ and explore how they offer both strategic and practical ways to settle on an investment approach that fits their financial position.

And then he explores the idea of a ‘safety margin’. What is it? And how does the idea help insulate clients from financial risks while still allowing them the flexibility to adapt their strategy through life’s ups and downs? 

When capacity for loss is such a significant feature of the day job, this a great chance to catch up with the latest thinking.

Useful links

Visit the event page at the Paraplanners' Assembly website, scroll down, and you'll see a 'Useful links' section with a link to download the slidedeck that Patrick refers to during the episode.

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But if the way we think is plotted on a spectrum, most of us would be considered 'neurotypical'.

Yet plenty of us - at least 1 in 10 in the UK - function, learn and process information differently from the neurotypical.

So we may be neurodifferent but, despite thinking differently, we're expected to adapt and succeed in a world that's geared towards neurotypical people.

Inspired by a post and thread at The Big Tent, we invited consultant and founding director of About Consulting Group, Jon Dunckley to join Richard to talk about neurodifference and paraplanning.

In a really absorbing, practical and illuminating hour, Jon - who is autistic - offers insights and ideas that will be invaluable to you if you're neurodifferent, or work with, live with or know people who are.

A few of links mentioned by Jon during the episode

British Dyslexia Association: Dyslexia-friendly style guide

The Neurodiverse Workplace by Victoria Honeybourne

Think Human Business Writing course

BTS podcast: Neurodiversity and studying for regulated exams

PFS Power: Working with vulnerable clients

Cornell note-taking system (YouTube video)

Online Assembly: Design principles for reports

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But with so much uncertainty around these days what strategies should you be considering for clients with businesses?

Les Cameron of M&G Wealth, joined host Richard Allum for an online Assembly to explore investment options, tax treatments and suitability.

Useful links

Les walked through a set of sides during the Assembly so it's definitely going to be worth your while grabbing a copy for yourself.

That's why M&G Wealth have created a page on their website where you can not only download Les’s slides AND complete a brief test to obtain your CPD certificate for taking part. To visit, just tap this link:

https://bit.ly/3QYlu1B

You can also find the page for this Assembly at our website which includes related links to previous Assemblies at which Les has appeared. Here's the event page:

https://paraplannersassembly.co.uk/event/investing-for-businesses-these-days/

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In the first part of the series, Steve looked back at the last two budgets - the 'mini-budget' in September 2022 and April 2023 - to demonstrate the cumulative effect of 'stealth' tax rises and explore strategies to alleviate their effects.

In the second episode, he explored the flexibility of loan trusts and their potential for inheritance tax planning – especially in the wake of the freezes in inheritance tax allowances for nil rate and residence nil rate bands announced by Jeremy Hunt in April 2023.

In the final part of the trilogy, Steve considers discounted gift trusts as an alternative to loan trusts for inheritance tax planning.

In sharp contrast to loan trusts, the decision to execute a gift trust brings no flexibility but their appeal is the immediate inheritance tax advantages.

Whether they're the right vehicle will depend on a number of planning considerations such as the ages of the applicants and the types of gift trust.

During his talk, Steve looks at the difference between absolute trusts and discretionary trusts, touches on issues like the consequences of pre-2006 flexible power of appointment arrangements, plus making gifts and insurance policies.

In the accompanying slidedeck (which you can download below), you'll find two case studies: the first explores a couple choosing between a joint settlor or single settlor discounted gift trust. The second involves a client who wants to invest in a discounted gift trust but wants to be able to secure a fixed level of withdrawals. By combining discretionary and absolute trusts they're able to achieve their objective without exceeding their nil rate band.

Steve's talk is ideal if you're handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.

We've 'chapterised' the video above so you can navigate the video however you'd like – and provided the slide number/s too for easy reference.

To download a PDF version of Steve's slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording. 

CPD, downloads and links

Slides: Discounted gift trusts (opens a PDF in a new browser tab)

CPD certificate »

Utmost International

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In this episode, Steve explores the potential for loan trusts to feature in inheritance tax planning – especially in the wake of the 'stealth taxes' announced by Jeremy Hunt earlier this year.

Perhaps typecast as a bit of a 'slow burn' option in the past, Steve reveals the surprising flexibility that loan trusts offer clients. For instance, offering the ability to begin inheritance tax planning but not cutting off access to cash.

While the inheritance tax advantages of a loan trust may not be so significant initially, the growth of the funds outside the estate over time can accumulate to a substantial amount, providing future planning flexibility.

If you're handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.

We've 'chapterised' the video above so you can navigate the video however you'd like – and provided the slide number/s too for easy reference.

To download a PDF version of Steve's slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.

CPD, downloads and links

Slides: Planning with loan trusts (opens a PDF in a new browser tab)

CPD certificate »

Hosted on Acast. See acast.com/privacy for more information.

In the first part of the series, Steve takes a look back at the last two budgets - the 'mini-budget' in September 2022 and spring Budget in March 2023 - to demonstrate the cumulative effect of 'stealth' tax rises and explore strategies to alleviate their effects.

During the hour-long talk he deals with changes in income tax, capital gains tax, corporation tax, and inheritance tax.

To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.

CPD, downloads and links

Slides: Post-April 2023 personal tax changes (opens a PDF in a new browser tab)

CPD certificate »

Top slicing relief: planning strategies – online Assembly, 16 November 2022 »

Talking top slicing relief – online Assembly, 29 June 2022 »

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It’s a big deal because, for surviving family and friends, knowing there's a posthumous financial plan of action can help avoid a wealth of distress, doubt and anxiety.

What’s more, getting it right has the potential to be one of those 'moments of truth' for clients – the kind of support they never forget and are grateful for years later.

So what can paraplanners do to prepare?

For a start, you can listen to this lunch hour Assembly where we cover:

☑️ how tax works;

☑️ how money is distributed;

☑️ who needs to do what to get the money; and

☑️ where it needs to go.

We consider a whole variety of taxes – including income tax, inheritance tax and capital gains tax – as well as administrative issues such as probate. Plus we'll point out essential planning tips for paraplanners as we go too.

Slides and CPD

M&G Wealth have created a page on their website where you can download Barrie’s slides AND complete a brief test to obtain your CPD certificate for taking part.

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Each case allows us to consider the suitability of different strategies to meet the ambitions for retirement income of each client. In addition, we explored the effect of the Consumer Duty on client choices.

Karl refers to this slidedeck during his presentation (opens in a PDF). You'll probably find it helpful to try and follow along.

At the event page you'll find a video replay and lots of links mentioned during the event - including the CPD survey link.

Important: It's only fair to point out that the live recording ended pretty abruptly at precisely 41 mins and 52 secs. We hope you like the way we seamlessly deal with that in the edit.

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In our first Assembly, we asked why it’s all kicking off in the world of retirement income and considered events that have prompted paraplanners to consider an expanding range of strategies to help clients achieve their retirement income goals.

In this Assembly we’ll be getting real by digging into the paraplanning practicalities. During the lunch hour session we expect to cover:  

• what the research says
• using forecasting software to consider annuities and secure lifetime income
• looking at modelling examples
• what it all means for assets under management and client risk profiles
• how it works on a platform

To help, were joined by guests Jean-Paul Grenade and Karl Steadman from Just. 

CPD and resources

You can find links to the slides that JP and Karl refer to during the event on the event page where you'll also find a link to a survey. If you complete the survey, a CPD record of your attendance will be emailed to you automatically.

Book the final session in the series now

In the third and final part of the series – you can book your spot here now – we’ll be gathering online at 1pm on 8 June 2023 to explore three case studies. Each case will allow us to consider the suitability of different strategies to meet the ambitions for retirement income of each client. Naturally, we’ll be considering how the Consumer Duty affects the choices available too. 

Listen to part one

If you missed the first Assembly in the series, pop over to the event page – visit Why is it all kicking off in the world of retirement income planning? – where you’ll find a video replay and podcast episode link plus links mentioned during the event.

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Ever since, uncertainty about rising interest rates, anxieties about inflation, and even worries over the stability of pension funds themselves, have led paraplanners to rethink how clients can achieve the outcome they want from their financial plan.

One consequence of all this? Secure lifetime income has become a thing. And annuities are back in fashion.

In the first of a three-part series, Richard was joined by Karl Steadman from Just to explore what’s changed in the world of retirement income planning and what it means to paraplanners.

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