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North Scotland Regional Conference Q3 2019

About the Event

RegTech, Protection and Pensions - the Good, the Bad and the Ugly

 

Your quarter three regional CPD conference will see leading subject matter specialists deliver a broad and topical programme including:

 

  • Pensions - the Good, the Bad and the Ugly
  • RegTech - how it can benefit your business
  • Map your future
  • Five rules of contrarian investing
  • Inheritance tax and potential pitfalls
  • Protection, SMCR and IDD.

 

View the full programme and reserve your free place using the link on the right. 

 

Attendance at all PFS events qualifies for structured CPD and provides the opportunity to share good practice with your peers. Lunch and refreshments will be provided.

Programme

08:45 - 09:30 Delegate Registration

09:30 - 09:40 Chair's Introduction

Chairperson: Angus Mackintosh, AMLP Financial Planning Ltd

09:40 - 10:15 Five Rules of Contrarian Investing…. Does Contrarian Investing still work?

Being a Contrarian Investor is a lot harder than it sounds. In a world driven by instant access to ‘’information’’ and ‘’headlines’’ how does the Contrarian Investor stay focused on the fundamentals of this Investment Style?

  • When you have read about it in the newspapers or see it on the news, it’s already over.
  • Buy when everyone wants to sell and sell when everyone wants to buy.
  • No one sees a bubble when their income depends on it.
  • Don’t take tips and don’t rely on sentiment.
  • What is obvious to you is not obvious to others (Long-term).

Speaker: Andrew Burns , M&G Investments

10:15 - 10:50 Inheriting tax – the potential pitfalls which may await

The need for inheritance tax advice may well be regarded as a lower need with the introduction of Residential Nil Rate Band (RNRB). However, there will be individuals in the UK who will not benefit from RNRB and who will see no increase in their inheritance tax relief until the planned Nil Rate Band (NRB) increase by CPI in 2021/22. So, for some, the rate of relief will not have changed for over thirteen years from when the £325,000 was introduced in April 2009. These include those who have no direct descendants and those whose net worth more than upper threshold of £2m. It may be some time before CPI makes any significant contribution to the NRB relief available if house price increases continue on their higher upward trajectory. With house price increase currently running at 2.5% (Nationwide Building Society, July 2018) this would mean the average house price would be £239,538 in 2023. Those with no direct descendants and net worth of less than £2m- are some who may need alternative strategies for wealth management. The requirement for inheritance tax advice for this demographic has therefore increased rather than decreased since 2009. As the major asset tends to be the family home this needs to be taken into account along with other assets. This, together with the introduction of pensions freedoms, has altered the landscape for inheritance tax planning. Furthermore, surviving spouses inheriting the ISA allowances mean that whilst tax efficiency continues for income and capital gains tax it is not necessarily so for inheritance tax. We will use a case study to explore this area in our session.

  • Explain the advice which may to be given not just to recipients of lifetime gifts but those giving the assets away.
  • Demonstrate how inheritance tax is calculated on estates and lifetime gifts.
  • Explain the need for differing types of life assurance to meet the needs of those giving and receiving lifetime gifts, and ultimately the estate on death.

Speaker: Kevin Holloway, Aviva

10:50 - 10:55 Professional Qualifications Officer

Committee: Sheridan Barlow, First 4 Financial Planning Ltd

10:55 - 11:20 Morning break

11:20 - 11:25 Membership Officer

Committee: Robert Broad, Broad Wealth Management Ltd

11:25 - 12:00 Pensions – The Good, The Bad and The Ugly

Retirement advice compliance is becoming more and more complex and sometimes you feel like you just can’t do right, for fear of doing wrong!

  • Understand - the real value of the state pension as a guaranteed income foundation
  • Describe – the direction of travel the FCA are highlighting in cp19/5  and will this become a new option to consider for some advised clients?
  • Understand – the risks and benefits of a partial transfer over a full transfer (blending solutions)
  • Explore – how best practice enables us all to stay safe in the transfer market – db to dc and dc to dc – are there synergies?

Speaker: Andrew Tully, Canada Life

12:00 - 12:35 What is RegTech and how can it benefit your business?

One thing is for sure, it’s raining regulations and associated costs are increasing. Retail Investment Advice firms now need to ensure they not only implement compliance strategy but also evidence how they comply on a sustained basis. Model Office’s presentation will show how the FCA are now looking to regulation technology (RegTech) as a major enabler platform to ensure retail investment adviser firms can empower their professional practice and continue to comply and compete in an ever demanding and hard regulatory market. The benefits of which can not only evidence compliance but also reduce time and costs spent on compliance activity.

  • The role of technology in supporting professional development
  • The FCA’s direction of travel and support for RegTech
  • RegTech enabling proof for the 2 key areas for professionalism

a. Competency (Knowledge)

b. Conduct (Behaviour)

Speaker: Chris Davies, Model Office

12:35 - 13:10 Map your future

Significant changes have altered the investment landscape, from the impacts of longevity, shifting responsibility to rising costs. These changes with the increased lack of confidence make it a difficult environment for investors to know where to put their money which is why we see 74% referring to themselves as “savers” rather than “investors” (Source: BlackRock Global Investor Pulse 2018, Nat Rep Base: UK (4,163). During this session we are going to discuss the challenges investors are facing today, the intensifying scrutiny on advisers and then look at the importance of a multi-asset solution to create a diversified portfolio. We will highlight our recently launched fund of funds range which offers investors a product that is cost-effective, dynamically risk managed and rebalanced regularly to ensure they are fit for any market environment.

  • Determine the latest changes in the investment landscape and the impact on investors
  • Understand how investment solutions have evolved in order to build diversification based on investors desired level of risk or time-horizon
  • Describe the characteristics of a low cost multi-asset solution and consider its place as part of a well-diversified portfolio

Speaker: Susan Rohe, BlackRock

13:10 - 13:15 Chartered Champion

Chartered Champion: Simon Glazier, Stewardship Wealth

13:15 - 13:55 Lunch

13:55 - 14:30 Running a compliant and profitable business in 2020

Focusing on the key regulatory and commercial challenges facing advisory businesses, The SimplyBiz Group will explore the best practice approaches used by many of the more the firms they provide services to. Drawing on real examples from differet types and sizes of advisory firms, this session will allow time for delegates to reflect on their current business processes, prioritise the challenges to tackle next, and leave with a tangible “to do” list.

  • A summary of the major regulatory and commercial challenges facing advisers.
  • Insight into the ability of technology to tackle these challenges.
  • Understanding the challenges technology cannot solve without good business processes.
  • A brief, high level practice audit that delegates can follow along with during the presentation, leading to a clear “to do” list.

Speaker: Janice Laing, SimplyBiz

14:30 - 15:10 Relevant Life Plan – Put Life cover on expenses

15:10 - 15:15 Chair's Close

CPD

CPD CII Scheme
 
PFS Accredited 4h 10min

This event has been accredited by the Personal Finance Society and the CII and can be included as part of your CII CPD requirement should you consider it relevant to your professional development needs.



Speakers

Venue

The Aberdeen Altens Hotel

Souterhead Road
Aberdeen
Aberdeen
AB12 3LF


Partners in Professionalism

FAQs

Click on the ‘Book Now’ button above. Once you have logged into your PFS account you will be taken to the booking pages for this conference.

Yes. If the Conference or session you want to attend is full, there are often cancellations so if you go on the waiting list it is likely you will be able to attend. Click on the ‘Book Now’ button above to go onto the Waiting List.

You can amend your registration details by logging into your Events profile. Click on the ‘My Events’ button to do so now.

It could be that you have entered your email address incorrectly or that you have switched to a new email address, or that for some technical reason your registration failed. Please contact the Personal Finance Society Conference office at regionals@pfsevents.org and we can check your records.

At the present we are not able to automatically upload the CPD records, but we hope to be able to offer that service in the near future.

Please also note that you MUST sign in at the Conference for all sessions you attend in order for the Conference Office to validate your attendance.

You will be able to download your CPD Certificate from the PFS website after the event, and will receive an email within 48 of the event with the link to download your CPD certificate.

If you are unable to download your CPD Certificate after 48 hours, please email regionals@pfsevents.org to clarify this.

Please click here to view the schedule of forthcoming Conferences, regional events and what CPD sessions will be covered.

For general information and links about the CPD process, please click here.

To log-in and view your CPD records, please click here.

If you have any further queries about CPD, please contact the Personal Finance Society /CII on 020 7808 5616.

We will do our best to accommodate all dietary requirements. You can make us aware of this as part of the registration process, or update your Event Profile on the PFS website (click on My Events to login and then edit your requirements on your Event Profile).

Please email the Conference Office at regionals@pfsevents.org after the Conference and we will send you the presentation slides.

The dress code is business attire.