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Remix required for clients

Skandia says advisers should consider repackaging client portfolios for optimum tax-efficiency in the present ultra-low-interest-rate environment.

Head of tax and financial planning Colin Jelley says advisers with clients who are struggling to meet income objectives should review the tax structures of their investments to ensure they are getting the best returns.

He says: “Rather than one wrapper, it might be that they offer a mix of collectives and bonds. We are also seeing it in pensions and inheritance tax planning – advisers might put a bit of money in a discounted gift trust, a bit in a loan trust and hang on to the rest.”

Jelley believes that repackaging portfolios and building bespoke advice for clients should be part of the transition towards a recurring-income model and lends itself well to the growing platform market.

He says: “In the transactional world, it was difficult to see things in one place but platforms facilitate this and allow you to see and manage portfolios in their entirety.

“It is a competitive market for advisers and if they want to retain and acquire clients, they must take a step back and think about what solution offers the best outcome.”


Controlling forces

Mortgage distributors are striving to offer lenders more stringent tranche management as they compete for available funds. Lenders want control and are looking to networks and mortgage clubs to guarantee that.


Guide: reporting to the Pensions Regulator — what and when?

Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.


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