Below we list 10 of the stories most read by paraplanners on the Professional Paraplanner website over the past month.
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Recent FCA suitability commentary – key points
ATEB Consulting’s Steve Bailey analyses a recently delivered FCA speech on the suitability of advice and highlights key points advice firms should take from it.
Mitigating the child benefit tax trap
LEBC Group highlights how families could reduce the amount of tax they pay on child benefit by increasing their pension contributions, with case studies.
Tips when becoming a self-employed paraplanner
Ashley Wiltshire, owner of outsourced paraplanning firm Wiltshire Paraplanning, offers advice for other paraplanners looking to step out into the self-employed world
How advice firms are dealing with vulnerable clients
Vince Smith-Hughes, director of Specialist Business Support, looks at the results of a survey by Prudential into how advice firms assess and work with vulnerable clients.
Tax planning using gifts from surplus income (with case study)
John Humphreys, Inheritance Tax Specialist at WAY Investment Services, examines the ability to gift out of surplus taxable income and how this can be used in conjunction with trusts to provide greater planning flexibility.
Using small pots when you’ve run out of lifetime allowance
Prudential technical manager Jacqueline Clezy uses a case study with three options to illustrate use of small pots and using the age 75 rule in respect of breaching the LTA.
Four myths about responsible investing
Ryan Smith, head of ESG research at Kames Capital, takes four myths that have grown up around ethical/responsible investing and the reality of the situation for each.
Platform due diligence – cyber security questions
What cyber security-related questions should firms be asking their platform partner?
Advice firm resilience against cybercrime – a concern for the FCA
ATEB’s Steve Bailey addresses a growing concern for the regulator and financial advice firms – cybercrime – and recommends a three-pronged approach to resilience against cybercrime.
Gifting? There’s no time like the present
Leaving IHT planning to later life can cause unnecessary problems for families, especially where the individual may have lost mental capacity. Graeme Robb, senior technical manager, Prudential, examines the issues and the latest guidance.