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84% of IFAs say clients do not understand IHT

One in four advisers believe their clients fully comprehend the implications of inheritance tax, while 95 per cent say greater education and information is needed.

Research by Close Investments shows more than half (54 per cent) of clients seek IHT guidance on all their assets, not just their homes. But 84 per cent of advisers say their clients do not understand its tax implications.

Close Investments specialist sales assistant director Robert Meyer says the survey shows “ignorance and confusion” is still prevalent in the UK today. He says advice until now has mainly come from private wealth managers, specialist tax advisers and specialist solicitors.

He says: “With the explosion in the numbers of people affected by inheritance tax there is a need for broader advice and new avenues of enquiry.”

The research, conducted with 200 advisers in February this year, also shows 100 per cent of advisers see inheritance tax as a key concern for clients.

Meyer adds: “The challenge is for us in the financial and professional advice community to make sure our clients understand just how much will disappear into government coffers at their deaths and how following the advice available and taking often simple steps can benefit their families greatly.”


RoyLon profits are hit hard by turbulence

Royal London blames market turbulence for a 58 per cent fall in profits to £181m last year from £431m in 2006.The firm says the reduction “reflects, to a considerable extent, adverse investment market conditions, particularly in the second half of 2007”.Royal London says the group continues to be well capitalised and has an excess over […]

Swip picks Skinner for bond role

Scottish Widows Investment Partnership has appointed Guy Skinner as investment director, government bonds.

CAR is the driving force for the future

Friends Provident’s withdrawal from the intermediary market is no recent development – it has been happening gradually for years, starting with the unilateral stakeholder-isation of all personal pensions written by its once supporting IFAs throughout the 1990s.

US election

Capital Market Notes, November 2016 David Lafferty, chief market strategist at Natixis Global Asset Management, looks at the impact on markets and portfolios since the somewhat surprising outcome of the US election. Click here


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