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:
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.
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?
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.
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! In this session, we will aim to highlight some current and relevant pension areas, that are both Compliance and the FCA hot topics. We will highlight the many opportunities and some of the challenges facing those clients approaching and in retirement. We will be highlighting the latest news re the new State Pension, the impact for consumers and advisers regarding the latest FCA Retirement Outcome Review and last but not least, highlight some key areas relating to the Final Salary transfer market, with the aim of delivering best practice. We will be referencing our own recent Freedom of Information findings, the latest news from DWP, HM Treasury and FCA along with work we have just completed in conjunction with a Consulting Actuary firm relating to partial transfers. Case studies will be used as examples. The objective is to better understand the risks that come with these opportunities and share with you some ideas that help re-inforce best practice, in line PFS Pension Advice Taskforce and Gold Standard. We believe that there is a significant crossover, in how the process of advising clients, going into and already in Flexi Access Drawdown as well as those clients with a Final Salary Pension, this will help build on a Centralised Retirement Proposition.
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.
a. Competency (Knowledge)
b. Conduct (Behaviour)Speaker: Chris Davies, Model Office
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.
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.
With the implementation of the IDD and the Senior Managers Regime due to be rolled out later this year, this session will provide an overview of the final IDD rules as relevant to individual protection, including compulsory training, market awareness, conduct of business and acting in your customers best interests. It will also explore the need to improve access to insurance for consumers with disabilities and pre-existing health conditions, and the steps that intermediaries can take to achieve this as well as improve outcomes. We will look ahead to the Senior Managers Regime and its requirements coming later this year. We are today in many cases triaging the customer out of the sales process - Why?...we will look at the consequence of not putting protection in place, the current application process and clients with pre-existing health conditions. Finally, his session will provide an overview of using price as the primary differentiator - what this drives and what it means for customer journeys and outcomes.
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.
Acumen Investment Solutions Ltd
Company: Canada Life
Kevan has worked at Canada Life, formally Retirement Advantage, for 5 years in his role as a Pension and Income Specialist, where he works closely with Andrew Tully, Canada Life Technical Director. He has over 30 years’ experience, all of it in the intermediary sales market and most of it in the pension and retirement space. His main role today, is to work with the Canada Life distribution teams. He supports them and their accounts in both a technical and sales presentation capacity. Kevan is also a regular speaker at National Adviser and PFS events around the country. He has a real passion for sharing best practice, recently in the higher risk advice markets, such as defined benefit transfers but, he is also in great demand with regards to helping, both advisers and para-planners better understand the T&Cs from the plethora of more complex guaranteed drawdown pension plans, marketed throughout the UK.
Kevin is an Adviser Development Manager at Aviva. For the last 13 years he has been working with advisers to keep them up to date with changes in regulation and legislation, bringing out the opportunities these present. This helps improve outcomes for clients and advisers alike. Kevin has over 30 years’ industry experience, including 20 in sales. He has 23 industry exams, is a fellow of the PFS and Chartered Financial Planner. Kevin loves his job. Away from work Kevin enjoys many sports, especially cycling up hills to get the best views and justify the meals and drinks after.
Andrew joined M&G in January 2015 from Cornelian Asset Managers where he was responsible for the Intermediary relationships across central England. With over 15 years’ experience in the financial services industry, Andrew has a detailed understanding of both the Intermediary and Asset Management markets. Andrew has also held Business Development roles at Aviva (Regional Sales Manager, Midlands) and Scottish Equitable. Andrew completed a BA Hons at The Nottingham Trent University and also holds the Diploma in Financial Planning. At M&G, Andrew is responsible for managing the adviser relationships in the Midlands & South West regions.
Jacobs & Harris Ltd
Company: Model Office
Chris has enjoyed 27 years within retail financial services initially as an IFA in the UK and Hong Kong then moving into Wealth Managment before branching out into business consultancy into Australia and South East Asia. Chris’s passion has always been client engagement and empowering professional practice through technology advancement and has now built and developed Model Office a RegTech platform that enables firms to benchmark their on-going performance against all rules and regulations and delivering tailored and heat mapped dashboards, tasks and resources to ensure compliance and streamlined business development saving time and costs.
Susan has worked for BlackRock since 2008 on the US Retail team and has recently joined the UK Retail team to focus on delivering thought leadership, fund and market views to the Regional wealth marketplace Prior to this role, Susan provided presentation support to the Direct Channel in the US covering firms like Merrill Edge, E*Trade and TD Investments. Her hobbies include running, reading, and traveling.
Wealthmasters Financial Management
Neil joined SimplyBiz in 2003 as a consultant before being appointed Operations Director in 2004. From here, he led the acquisition of Compliance First, subsequently becoming the Managing Director of that business in 2007, a role he held until 2010 when he was appointed Joint Managing Director of the SimplyBiz Group. Now Joint CEO of the Group, Neil has executive responsibility for compliance, operations and finance for The SimplyBiz Group. He is also Chairman of Defaqto. Neil is passionate about bringing systems and technology to advisers, to enable them to deliver even more to clients, and is an advocate of advisers creating a 'supply chain' around their business and service.
This upscale golf and country resort is set in 2,000 acres of panoramic parkland in the beautiful Usk Valley. Just off the M4 (J24) and only 90 minutes from London Heathrow, 45 minutes from Cardiff Airport and Bristol Airport and 5 minutes from the Severn Bridge. We are located close to intercity rail services at Newport (3.8 miles), with direct trains to Cardiff, London Paddington, and Birmingham.
Complimentary WiFi and Parking.
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 firstname.lastname@example.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 email@example.com to clarify this.
Please click here to view the schedule of forthcoming Conferences, regional events and what CPD sessions will be covered.
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 firstname.lastname@example.org after the Conference and we will send you the presentation slides.
The dress code is business attire.