Stamford Specialist Regional Roadshow | Purely Paraplanning | 2022

With last year’s focus on investment (retirement) pathways from the FCA this session looks at managing the range of risks faced by both client and adviser in retirement planning, including longevity and sequencing risk, via a Central Retirement Proposition.

Learning Objectives:
 

• Update on the changing retirement landscape
• Consider managing the range of risks presented
• Consider investment data – managing investment risk
• Managing a flexible income strategy to maximise risk protection

The past few months have been tough for investors, and with market volatility and inflation expected to stay higher for longer, it seems as though the investment environment will be challenging going forward. Everyone loves a nice, bold prediction - how quickly GDP will grow, where interest rates will be in a year, or when the market will crash. Yet the “experts” rarely get it right, and even when they do, it’s not clear that macro-level forecasts are useful in making better investment decisions. Who knows what will come next? Who knows what the drivers of change will be? What we do is that in times of historical volatility, the benefits of diversifying portfolios have shone through. In this presentation we start by exploring forecasting over a few decades to demonstrate a valuable lesson - sadly forecasts don’t predict. We can’t predict an uncertain future, but we can plan for it. This session will highlight the benefits of diversification and outline a few diversification characteristics to be aware of so that you can ensure your client’s portfolios are best placed to navigate through change.

Learning outcomes:

• Explain the challenges of forecasting and the poor track record of professional forecasters
• Understand the benefits of diversification
• Identify value and growth investment styles

As a paraplanner, there is a huge focus on putting a robust retirement plan together for a client based on all the information on file and the most efficient way to meet the objectives. But it’s not just about the hard data - it’s also about understanding the characteristics of the client, their need for flexibility and a range of retirement goals. And it doesn’t end after the initial plan has been put in place…. The Personal Finance Society’s Good Practice Guide on Income Drawdown states that ‘firms should scope out, document and follow a defined process that is able to evolve. It must include a process to cover the onboarding of new clients and a robust review for existing clients’. As a paraplanner, can you identify what has changed from both personal and financial perspectives? Does the file give you enough to show the full picture? There’s a lot to include. For example, whilst consumer vulnerability is not limited to those in later life, there tend to be some elements that present themselves more as people get older. Have all of the facts been elicited? What does that mean in terms of changing the original plan? In this session, we’ll look at a number of ideas as well as industry guidance to show how to review a client’s plan throughout retirement and into later life. We’ll also consider what the regulation tells us about service design and segmentation to ensure that the process remains aligned to each client.

Learning Objectives

By attending this session, you will be able to:

• Examine the key factors in a review process
• Discuss key industry guidance on good practice relating to pension reviews
• Recognise the impact of health and ageing

At this time of huge uncertainty, we are aware that a comprehensive and up to date analysis of what’s happening in the markets is essential for paraplanners. James will be presenting a macro outlook with a monopoly theme running through the presentation, focusing on three key themes; geopolitics, central bank policy and inflation. We will uncover the investment approaches that we believe will achieve ‘board domination’.

Learning objectives

Challenging conversations are usually with important people over things that matter. They have the potential to strengthen or weaken a relationship and need to be handled with skill and care. Whether it’s putting across a different point of view, upholding professional standards or simply managing expectations, this session will cover how to rock the boat without falling out.

By the end of the it, participants will be able to:

• Recognise the key principles underpinning effective challenging conversations
• Apply relationship-strengthening strategies
• Use phrases to challenge advisors on incomplete files and recommended course of action or advice
• Use confidence-building tips to deal with challenging professional situations 

• What is the Trust Registration Service?
• What trusts need to be registered?
• Which trusts don’t need to be registered?
• How does the TRS apply to trusts of life policies and pension plans?
• What information needs to be provided?
• What are the time limits?
• How can I arrange for trusts to be registered?

This session will feature practising Paraplanners on stage sharing their own experiences in what works to make them effective Paraplanners. There will be opportunities for the audience to interact and participate with Q&A.