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Premier takes trustee show on the road

Premier Portfolio Managers is running a series of roadshows about recent Government changes to the Trustee Investment Act, which it says provide a solid business opportunity for IFAs.

Due to the updates to the Act last year, trustees are now obliged to take a more active interest in the value of the trust. The fund manager says in the past many trustees have been content to simply put the assets in a savings account and forget about them until they are due to be paid out.

It says this has been the attitude of many trustees because they are not allowed to derive income through fees or commission from investing the money.

Premier claims this is a great opportunity for IFAs to approach solicitors and offer to manage the trusts they are responsible for. Using the legislative updates as a springboard, IFAs can then deal with the firm&#39s pension scheme and benefits packages, it says.

To sell this message, the fund manager is holding a series of 12 workshops for IFAs at locations throughout the UK, beginning on September 19 at Leeds and finishing on October 17 on Cardiff.

Parent company Premier Asset Management joint managing director Jonathan Fry says: “A lot of IFAs are becoming aware of the trustee market as an opportunity to form business relationships. The roadshows aim to reinforce this message.”

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Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

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