In this episode of Beyond the Numbers, Scott Stevens sits down with Claire Trott, Divisional Director of Retirement and Holistic Planning at SJP and Director of Technical Connection. Widely recognised as one of the UK’s leading experts on pensions and retirement planning, Claire has spent years simplifying the complexities of SIPPs, tax planning, and regulatory changes. She is a trusted voice in both national and trade press, providing clear, insightful commentary on some of the most pressing issues in retirement planning today. In this candid and thought-provoking conversation, Claire shares her journey into financial services and the passion that drives her to help clients navigate complex pension decisions. She discusses the true value of financial advice - building confidence and clarity for clients, and why cutting through technical jargon is essential. Her approach centres on making financial concepts accessible without oversimplifying, always tailoring explanations to each client’s level of understanding. The discussion covers everything from the power of cash flow modelling and the importance of human connection, to the latest pension legislation changes and the fine balance between regulatory compliance and client trust. Packed with valuable insights and practical advice, Claire’s expertise offers a masterclass for advisers looking to enhance their approach and better support their clients.

Key Takeaways:

• The value of advice is giving clients confidence that they are going to get there, clearly explaining how.
• De-bunk technical jargon - explain key concepts simply (without dumbing down), tailoring language to fit the client’s level of understanding.
• It is not about showing off knowledge - it’s about building client confidence in their financial future and providing peace of mind.
• Cashflow modelling is a powerful, visual tool that should be used to help clients understand their financial trajectory.
• Always check for understanding after explaining something complex.
• Walk clients through the value you have added, particularly when optimising tax.
• The emotional support advisers provide is worth so much more than money.

Great phrases:

• “The less tax you pay, the longer your money will last”.
• “Once it’s gone, it’s gone forever” in reference to annual tax allowances.
• “Be proactive with clients, rather than reactive”. Engage clients with conversation starters.
• “We have over 50 specialists” in reference to the team that sits behind Technical Connection.
• “We have experts that shape Policy”.

Resources:

• Access Techlink: Techlink Professional - Knowledge Home
• Tax Health Check: Tax Health Check
• Pensions learning on the House App SJP | Search
• Navigating annuities and Inheritance Tax https://www.moneymarketing.co.uk/news/claire-trott-navigating-annuities-and-inheritance-tax/

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