Patrick Ingram from Parmenion joins host, Richard Allum, for a lunch-hour Assembly exploring the issue of capacity for loss.

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.

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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We all occupy our place in a neurodiverse world.

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.

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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There are already plenty of reasons for business-owning clients to consider investing surplus profit rather than, for instance, taking it as income. And April’s 6p rise in corporation tax could add impetus to business owners’ interest in weighing up their options.

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.

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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We recently teamed up with friend of the Assembly, Steve Sayer of Utmost International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms' clients.

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 the first part of the series, Steve looked 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.

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 »

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We recently teamed up with friend of the Assembly, Steve Sayer of Utmost Wealth International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.

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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Paraplanners' Assembly host, Richard Allum, is joined guest expert, Barrie Dawson from M&G Wealth, to ask: 'What happens to tax wrappers when a client dies?'

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.

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.

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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In the third and final Assembly in our 'It’s all kicking off in the world of retirement income planning' series we're joined by Karl Steadman from Just to explore three client case studies.

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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This is the second in our series of It’s all kicking off in the world of retirement income planning Assemblies exploring the new practicalities of retirement income planning – a series made possible with the support of our friends at Just.

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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Years of stability in the retirement income planning world changed abruptly on 23 September 2022 when former Chancellor of the Exchequer, Kwasi Kwarteng, presented his ‘mini budget’.

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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