CPD event Tuesday 17 March 2020 - has been cancelled

Synopsis:

Following the Budget, we will highlight the impact of any changes made to retirement planning tax allowances, tax relief’s and other related pension financial planning areas.

This section will depend on how radical the budget has been.

It’s been nearly 5 years since pension freedoms changed the face of retirement in the UK and 25 years since Income Drawdown legislation came into being. But, throughout these periods, legislation and regulation have changed significantly. We know that since 2015 the FCA have been monitoring consumer outcomes regularly. Culminating in the January 21^st “Dear CEO letter” to “distributors” and the impending implementation of CP19/25 and contingent charging.

This section we will review the need for evolving your Centralised Investment Proposition into your Centralised Retirement Proposition.

Enshrined in PROD 3.3.15 R (1) it states “Distributors must have in place adequate product governance arrangements to ensure that….the financial instruments and investment services they intend to distribute are compatible with the needs, characteristics and objectives of the identified target market.” Reviewing your current client proposition, will help futureproof your retirement business as the FCA commence their “Assessing Suitability Review 2” which will see increased focus on advice suitability, fees and charges.

This section, we will use a case study to evidence the need to consider all assets, wealth and income to deliver the panacea of a happy retirement and maximum legacy – avoiding underspend and overspend risks.

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