High net worth family planning using trusts
In this real-life case study, a high net worth family of mixed ethnicity faces complex issues around succession planning, inheritance tax and forced heirship.
Best Practice
-
-
Five firms pull free pension transfer tool
Prudential, Scottish Widows and LV are the latest providers to stop their free pension transfer value analysis services (Tvas) for advisers, as they respond to regulator concerns that such tools could act as an inducement.
-
Case study insights into the UK’s new trust register
The UK’s new trust register is ringing in big changes for non-UK trustees and beneficiaries.
-
‘Unlimited fines’ on the way for offshore tax evaders
Prison sentences and “unlimited fines” are two draconian penalties HM Revenue & Customs (HMRC) will have at its disposal from next week for UK taxpayers who evaded tax through offshore means in tax year 2017/18.
-
AJ Bell to compensate Sipp client for ‘significant injustice’
The Pensions Ombudsman has ordered AJ Bell to compensate a client for lost interest and pay him £500 ($709, €570) for “significant non-financial injustice” after the investment platform failed to notify him the interest rate of his account would drop to 0%.
-
One in eight retiring with no pension
Twelve percent of people retiring this year have made no provision for their retirement, with 10% either totally or somewhat reliant on the UK state pension, research from Prudential has found.
-
Downward trend in Ombudsman complaints
Complaints about advice companies made to the UK’s Financial Ombudsman Service (FOS) eased across the board in the second half of 2017, while Aviva and Barclays bucked the trend and saw complaints rise, according to updated figures.
-
‘Disaster’ averted: UK keeps mandatory pension transfer advice
Easing the advice requirements for transfers of guaranteed pensions to overseas schemes “could have been a recipe for disaster”, AJ Bell senior analyst Tom Selby said of the UK Government’s decision not to scrap the requirement to take financial advice.
-
Is your reputation at risk?
Managing client complaints that could put a firm’s good name on the line must be at the heart of a standard planning process.
-
How the shift to ongoing commission impacts investment advice
In any service industry, the question of ‘when?’ can be just as important as ‘how much?’ when it comes to remuneration, explains Danny Knight, director at Old Mutual Wealth Multi-Asset.
-
Three insights into unsettling pension freedoms data
The Financial Conduct Authority has released figures on pension freedoms that product providers have described as “concerning” and “do not make for comfortable reading”. International Adviser spoke to industry experts to get their thoughts on the data.
-
Why high net worths are leaving the UK
The UK has lost its reputation as a top destination among high net worth individuals, who have been left disenchanted by the direction of government policy, prompting an outflow to more attractive jurisdictions.