Techlink in Conversation

Eddie Grant chats to our pension’s guru, Claire Trott about the abolition of the lifetime allowance, the current rules and questions we are receiving about a possible future change in government

In this episode of Techlink in Conversation, Eddie Grant and Claire Trott, directors at Technical Connection, discuss recent events and key issues in the world of tax, trust, and pensions. They reflect on their recent in-person conference, Techlink Live, where Claire engaged with numerous financial planners and fielded many inquiries, highlighting the excitement of the impact of the recent Lifetime Allowance changes and General Election speculation.

The conversation delves into the "Triple Lock Plus" initiative, aimed at ensuring pensioners do not pay income tax on their state pension, though many details remain unclear.

Further, they discuss the complex status of the lifetime allowance, noting that while it was announced as abolished by Jeremy Hunt, the reality involves new allowances and significant legislative gaps. Claire emphasizes the importance of finalizing these changes to avoid uncertainty and potential unfairness for savers and retirees.

They also touch on the broader implications of these pension changes, including public and private sector impacts, and the need for clear, detailed policy to avoid adverse effects on long-term savings behaviours. Claire mentions the Institute for Fiscal Studies' recent note on the lifetime allowance, stressing the importance of advisers staying informed to effectively counsel clients amid ongoing changes.

Overall, the episode underscores the fluid and complex nature of pension regulations and the necessity for financial professionals to remain vigilant and adaptable.

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Please note - The content of this recording is strictly for general consideration only. No action must be taken or refrained from based on the content alone. Professional advice must always be sought. Accordingly, neither Technical Connection Ltd nor any of its officers, employees or contractors can take responsibility for any loss occasioned because of any such action or inaction.

Eddie Grant chats to Financial Planner, Kelly Mills about her insightful research about goal setting for young adults and their reluctance to seek professional advice.

In this episode of the TechLink in Conversation, host Eddie Grant interviews Kelly Mills, who discusses her 2023 dissertation on young adults' financial goals and their reluctance to seek professional advice. Key findings include a common goal among interviewees to purchase a house, yet a general hesitance to consult financial advisors. The research highlights a perceived inaccessibility of financial advice, with many believing it's tailored for the wealthy, middle-aged demographic, despite recognising its universal benefit. Kelly suggests the potential for more extensive future research to explore the impact of expert financial advice on achieving such goals more effectively.

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Please note - The content of this recording is strictly for general consideration only. No action must be taken or refrained from based on the content alone. Professional advice must always be sought. Accordingly, neither Technical Connection Ltd nor any of its officers, employees or contractors can take responsibility for any loss occasioned because of any such action or inaction.

Eddie Grant chats to Jonathan Warren, Principal Consultant & Head of Innovation, Altus Consulting about all things all things vulnerability and the TISA vulnerability radar tool.

Our conversation delves into the FCA's focus on vulnerability in the financial services profession, discussing its definition, importance, and the impact of recent regulatory developments. Jonathan Warren highlights the evolution of vulnerability considerations since 2014, emphasizing the FCA's and the industry's ongoing commitment. He explores the definition of vulnerability, its key drivers, and the significance of financial lives surveys in understanding vulnerability dynamics. The discussion also touches on the Tisa Vulnerability Radar as a tool for firms to assess their support for vulnerable clients and the implications of the consumer duty for enhancing focus on vulnerability.

Helpful links

TISA Vulnerability radar tool - TISA Vulnerability Radar - TISA

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Please note - The content of this recording is strictly for general consideration only. No action must be taken or refrained from based on the content alone. Professional advice must always be sought. Accordingly, neither Technical Connection Ltd nor any of its officers, employees or contractors can take responsibility for any loss occasioned because of any such action or inaction.

Eddie Grant chats to Claire Trott, Technical Connection Director, to discuss the imminent lifetime allowance changes.

The Chancellor announced the abolition of the lifetime allowance (LTA) in the spring budget of 2023. While there may be amendments, the main form of the legislation should go through. As a result, the LTA charge will be removed from 6 April 2023, but the existing framework remains in place until the full abolition in the 2024-2025 tax year. Claire discusses the changes and what advisers should consider and what they should say to their clients.

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Please note - The content of this recording is strictly for general consideration only. No action must be taken or refrained from based on the content alone. Professional advice must always be sought. Accordingly, neither Technical Connection Ltd nor any of its officers, employees or contractors can take responsibility for any loss occasioned as a result of any such action or inaction.

Eddie Grant in conversation with Simon Neville who discusses his recent MBA research on ““a critical analysis of the effectiveness and influence of financial advisers working with entrepreneurs on business exits”

The research establishes three key themes that influence this:

1. The entrepreneurs' mindset when it comes to managing their finances.

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Please note - The content of this recording is strictly for general consideration only. No action must be taken or refrained from based on the content alone. Professional advice must always be sought. Accordingly, neither Technical Connection Ltd nor any of its officers, employees or contractors can take responsibility for any loss occasioned as a result of any such action or inaction.

Eddie Grant chats to Claire Trott, Technical Connection Director, to discuss topical Techlink bulletins. This episode we chat through:

• Lifetime allowance changes

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Please note - The content of this recording is strictly for general consideration only. No action must be taken or refrained from based on the content alone. Professional advice must always be sought. Accordingly, neither Technical Connection Ltd nor any of its officers, employees or contractors can take responsibility for any loss occasioned as a result of any such action or inaction.

Eddie Grant catches up with Charlotte Watson who launched her advisory firm in January 2022. Charlotte shares her journey and experiences as she builds her business. We also discuss how we can together support a more inclusive profession. Charlotte highlights three great hints and tips for advisers throughout their career.

Eddie Grant catches up with Alex Hall who completed his masters in 2023 shares his insights on how to inspire the next generation of advisers and hints and tips for fellow students.

Previous episodes in the research series:

Better Vulnerable Client Outcomes - Eddie Grant discusses better outcomes for clients in vulnerable circumstances - available here

Buy to let - Jason Haigh discusses buy to let properties - listen here

Investor Knowledge - Amy Goodall-Smith discusses where people get their knowledge when making financial decisions - listen here

Later Life Financial Planning - Vicky Kleboe, Later Life Financial Planning for women - listen here

Long Term Care - Zoe Taylor, discusses the perfect storm for financial planning decision making - listen here

Pensions Tax Relief - Claire Trott discusses the impact of pensions tax relief based on the nature of the benefit structures of the schemes - listen here

Property - Paul Johnson discuss Property as a retirement strategy instead of pensions - listen here

Retirement - Sam Bradford discuss The Retirement Decision within financial services company - listen here

Retirement Planning - Ellie Reed discusses how existing stakeholder knowledge and emotional intelligence plays a role - listen here.

Value of Advice - Tom Low, discuss reason for, and value of, seeking financial advice - listen here

Vulnerability - Adam Johnson discusses vulnerable consumers in financial services - listen here

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Eddie Grant catches up with Hannah Coffey, Vulnerability and Client Assistance Manager to consider the common queries, Consumer Duty and hints and tips to deliver great client outcomes.

Previous episodes in the vulnerability series

Episode 1 focuses on Bereavement with expert insights from Kirsty Hunt from Cruse Bereavement Support and our lived experience expert Dominic. Market Podbean link is here.

Episode 2 focuses on Mental Health with expert insights from Emma Turner from Mind Croydon and our lived experience expert James. Market Podbean link is here.

Episode 3 focuses on Economic Abuse with expert insights from Dr Nicola Sharp-Jeffs, Founder and CEO of Surviving Economic Abuse and our lived expert Annie. Market Podbean link is here.

Episode 4 focuses on Cognitive Impairment with expert insights from Philly Hare, Innovations in Dementia and our lived experts Wendy and George. Market Podbean link is here.

Episode 5 focuses on Relationship Breakdown with expert insights from Jack Guinness and Farah Baldock from Gingerbread and our lived expert Helen. Market Podbean link is here.

Episode 6 focuses on Digital Capability with expert insights from Helen Dobson from Citizen's Online and our lived expert Jackie. Market Podbean link is here.

Episode 7 focuses on Caring with expert insights from Sonia Benitez, from Carers Network and our lived expert Cynthia. Market Podbean link is here.

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!

Eddie Grant catches up with Helen O'Hagan, tax and trust expert, who demystifies trusts, trustee duties and the value of advice. This insightful conversation is full of hints and tips.

Subscribe to future podcasts and review our Techlink in Conversation catalogue for a deep dive across Technical, Vulnerability and Research themed conversations.

Please leave a comment, we would love to know what you think of our conversations, why not like it too!