In March’s jam-packed issue we have 10 articles for you plus your usual favourites.
Our Paraplanner Profile maps the paraplanning career of Grant Callaghan, who was Para-Sols’ first graduate recruit and is now the firm’s head of paraplanning. Rob Kingsbury spoke to him about his views on paraplanning and his journey so far
Dan Atkinson, head of Technical at EQ Investors, looks at the final opportunity to use unused allowances from the 2015/16 tax year
Did you know you can use a buddy transfer for clients under the age of 55? Intelligent Pension’s Fiona Tait provides a case study
As well as our regular exam testing Q&A Catriona Standingford, MD of Brand Financial Training, looks at AF7, the exam with the lowest pass rate in 2018
And for our article Investing differently, Rob Kingsbury met with Marcel Bradshaw, head of UK Retail at Orbis, to talk about launching into the retail space, performance fees, democratising investing and the company’s status as a charitable trust
This issue’s articles also cover
• VCTs and pensions carry forward
• Why having an effective Centralised Retirement Proposition needs to become the norm
• 6 tips to help clients be better investment decision makers
• Using technology to make first impressions count when bringing on a new client
• What investment opportunities Europe might offer amid ongoing uncertainty
• And why the bigger picture must inform the selection of the right long-term tech solutions for wealth management firms
Welcome to your February 2019 edition of Professional Paraplanner
For this issue’s paraplanner profile we spoke to Peter Mason, director of PJM Paraplanning and Consultancy Services, about his paraplanning journey, from employed, to self-employed to business owner and his pension transfer specialist work
Also, we have a plethora of technical and insight articles for you this issue, including:
• SSAS as an ideal business exit planning tool
• The use and taxation of discretionary will trusts and how to navigate the first 10 years of exit charges
• Divorce and re-marriage amongst baby-boomers and the impact on inheritance, requiring talks with clients about their wishes, wills, trusts and tax
• How the Residence Nil Rate Band (RNRB) can be a good starting point for discussions with clients
We look at what might 2019 hold for paraplanning, asking in-house and outsourced paraplanners for their views
And, alongside our regular TDQ Q&A to test your pre exam knowledge, this issue Catriona Brand, MD of Brand Financial Training, provides six easy steps to working out an individual’s income tax liability.
This issue we celebrate our 50th edition of the Professional Paraplanner magazine!! Thank you to all our readers, supporters and the team behind the scenes that have worked so hard.
The paraplanner we profile for this issue is Jade Mountford, chartered paraplanner with Mazars Financial Planning. She scooped the PFS Paraplanner of the Year 2018 award and talked to PP editor Rob Kingsbury about what that entailed and how she was encouraged to step out of her comfort zone
Nishit Patel, senior paraplanner at Gallagher Wealth, says that while selecting funds for bespoke investment portfolios is now often considered too risky for many businesses, it is still a necessary skill for paraplanners
Client meetings and new challenges
In part II of our interview with Chetan Ravalia, paraplanning manager, and Codie Smith, paraplanner at Cooper Parry Wealth, Rob Kingsbury talks to them about where their roles fit in the firm’s new operational structure, their approach to client meetings and the challenges of adapting to a new way of working
This is what’s holding paraplanners back
Michelle Hoskin decries the attitude to paraplanning development she still witnesses amongst seemingly progressive financial advice firms
Paraplanners and technology
Both are essential to ensure the long-term success of advisory firms, says Mark Harman, CEO at cashflow modelling provider i4C
• Our regular Q&A provided by Brand Financial Training
• Investment: How do you construct a bond portfolio in the current economic environment?
• Due diligence: Why intermediary businesses need to keep abreast of financial services company evolution
• Investment: Is it time to re-evaluate our value investments?
• AND Jacqueline Lockie, head of Financial Planning at the CISI explains how too often we are prepared for what we think is needed rather than listening to what is actually needed.
Paraplanner profile: This issue, in the first of a two part interview, Rob Kingsbury spoke with Chetan Ravalia, paraplanning manager, and Codie Smith, paraplanner, at Cooper Parry Wealth about how they work as ‘paraplanners’ since the firm restructured
We also asked Dan Atkinson to provide insight into how his role has changed in his move from paraplanner to head of Technical at EQ Investors
Also in this issue:
HMRC’s interpretation of death benefits in respect of IHT where a pension transfer takes place
Planning for later life care when paired with a desire to leave residual wealth to beneficiaries
Options when a client wants to exit an onshore bond in the most tax efficient manner
And insight into the questions one support team gets asked in respect of IHT and ISAs
Our TDQ (Training, Development & Qualification) regular Q&A and this issue’s article looks at the JO3 and AF2 exams.
And Michelle Hoskin describes the reaction she received from financial planners from around the world when she talked to them about the paraplanning role
Finally, our monthly Parameters survey sought your views on the potential impact of Brexit on financial planning for clients and the work of paraplanners.
Technical Insight Seminars 2019
We also announce the dates and locations of our Technical Insight Seminars 2019.
As some of our events last year were oversubscribed, now is the time to register your interest in one of the 15 locations we aim to reach next year, bringing the seminars closer to many more paraplanner around the country.
Register your interest by email to: firstname.lastname@example.org
In the November issue of Professional Paraplanner, we talk to Rebecca Tuck, CISI Paraplanner of the Year 2018, about why she entered the award and how her role at Magenta Financial Planning has evolved in the past two years (and since she was our cover star in May 2017.
In Paraplanner Pointers, we highlight tips on how to deal with the interruptions to your working day, in particular when you need to get your head down and get on with a report.
Alongside our monthly TDQ Test Your Knowledge quiz, Brand Financial Training’s Catriona Standingford looks at the incidence of Powers of Attorney being tested in CII exams AF1 and J02
Our tax articles this issue look at:
• How to help clients escape the Lifetime Allowance trap, which has been catching more and more tax payers in recent years
• And in navigating the complexities of inheritance tax, what are the advantages of Business Property Relief over gifting?
Following on from Good Money week, editor Rob Kingsbury talks to Bryn Jones, manager of the Rathbone Ethical Bond Fund, about why he changed the ethical screening process and how he balances achieving ongoing positive returns with the fund’s investment philosophy.
Other investment articles include:
• Why have risk targeted multi-asset portfolios become increasingly popular with advice firms?
• What is attracting more investors to investment companies and the practicalities of using them
And in the second of a series of articles looking at the Paraplanning Standard, Michelle Hoskin outlines how the Standard Committee of financial planning professionals identified the needs the Standard had to meet.
Welcome to the October 2018 issue of Professional Paraplanner
For this issue’s Paraplanner Profile, editor Rob Kingsbury spoke to Blake Ellis of Simpson Financial Services about why he feels cash flow modelling is core to all clients’ plans and the benefits of being the sole paraplanner in a small firm
Do you think the professional bodies could be doing more for paraplanners?
Caroline Stuart, newly elected member of the Personal Finance Society board, tells why she stood for election and what she wants the PFS to do for paraplanners, while Dan Atkinson, member of the CISI Paraplanner Interest Group, looks how the professional bodies are tuning into what paraplanners want
Also, in this packed edition:
Why paraplanners have a golden opportunity to carve out their own career paths
Michelle Hoskin delves into what the paraplanning offers the profession
Discussions and tips from this year’s national Paraplanner Powwow
PLUS, we have articles on
• Client segmentation in preparation for PROD
• The Age 75 conundrums
• Why it’s not Brexit that is keeping Aberdeen Standard Investments’ Andrew Milligan awake at night
• Busting the myths and misconceptions around multi-asset investing
• Central Retirement Propositions – generating retirement income for clients
• And, as we enter VCT fund raising season, a look at benefits and risks of these structures
In your September issue of Professional Paraplanner
Editor Rob Kingsbury spoke to the paraplanning team at Chadney Bulgin, about how they operate both a dedicated and a pooled unit within the business
Jenny Madhoo, paraplanner at A2+B Wealth, suggests points paraplanners should consider when moving to a new company
Becoming a paraplanner
Damian Corley tells how becoming a paraplanner is the biggest risk he has taken professionally
Technical: Carry Forward
Fiona Tait, technical director, Intelligent Pensions, looks at three different factors to consider when using carry forward for a client’s pension payments
Training Development and Qualifications
Alongside our Test Your Knowledge exam refresher, Catriona Standingford of Brand Financial Training looks at the Securities Advice and Dealing exam and what it offers paraplanners
Technical: Planning for school fees
Canada Life’s Kim Jarvis presents a case study on how to use onshore bonds to pay the next generation’s school fees
July / August Issue
In your bumper edition of Professional Paraplanner this month we have two specials for you:
The Professional Paraplanner Awards 2018 – We celebrate our second year of awards, recently held at the Grange St. Paul Hotel, London
AND a Tax Special. In this 8-page section, we look at inheritance tax – the way paraplanners approach IHT, due diligence on BPR providers, and a case study which shows how you can cascade wealth down the generations using an international investment bond.
Also in this issue:
Paraplanner team profile – Cooper Parry Wealth’s David Carroll tells editor Rob Kingsbury how the team is always looking to push themselves further as individuals and as a team
Test your Knowledge: A Q&A to help you prepare for this year’s exams
EQ Investors’ Dan Atkinson looks at matching an investment strategy to the client’s wider ethical views
TDQ: The RO2 exam and how to work out the yield on a bond
A look at corporate bonds and where they go from here given this their negative total return YTD.
And the CISI’s Jacqueline Lockie looks at children returning to the parental home to live and why this is a serious concern and causing new scenarios that need to be addressed in financial planning, including cashflow assumptions.
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