Rebalancing portfolios is a familiar task for paraplanners. Periodically – often after a client’s annual review – we make sure that fund allocations are tweaked so they’re true to original investment goals.
But how does rebalancing work from a platform’s point of view?
During this second episode in a three-part series on life behind the scenes at platforms, Transact’s national sales manager, Stuart Fleat, walks you through the rebalancing process.
In just four minutes, Stuart explains how a platform calculates and processes sells and buys, how long it takes and how to check tax impacts upfront.
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Missed out on the first episode?
Catch up now with the first episode in this bite-sized Assembly series.
Part 1: A bite-sized Assembly on what happens when you place a trade on a platform. In just 5 minutes and 23 seconds, Transact’s Glen Sweet lifts the lid on what happens behind the scenes at a platform.
In the last of his quartet of bite-sized Assemblies on investing, Timeline investment strategist, Laurentius van den Worm, tackles the topic of market forecasting.
Given our recent experience with high inflation, higher interest rates not to mention pandemics, wars and conflict, is there much point attempting to forecast the future?
Or put another way: what’s the outlook for forecasting (geddit? 😉)
Tune in and you’ll soon discover that Laurentius thinks three things are worth remembering:
First, active managers rarely outperform the market long-term. Investors should get low-cost market exposure rather than try to beat it.
Secondly, missing just a few of the stock market’s best days over decades can seriously affect overall returns. Timing the market is extremely difficult, so investors should stay invested.
And finally, equities have created significant wealth over the past century and remain an essential feature of long-term financial plans.
What’s more fixed income can help reduce volatility (and traditional asset allocation still makes sense despite recent volatility).
The takeaway? Long-term historic trends remain a pretty sound basis for forecasts despite recent volatility. And equities tend to reward patient investors with long time horizons.
Rather than market timing, appropriate asset allocation and risk management enable investors to endure short-term swings.
But don’t take our word for it. Listen yourself now.
Listen now
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Missed out on previous episodes?
Catch up now with the first three episodes this bite-sized Assembly series.
Part 1: On modern portfolio theory. Laurentius explores modern portfolio theory’s key principles – like diversification and concepts such as the ‘efficient frontier – illustrating the topic with practical examples.
Part 2: On asset allocation. Join Laurentius as he explores the topic of asset allocation, asset classes, diversification of risk, real estate investment, and performance of real estate investment trusts compared to global equities.
Part 3: On sequencing risk. Laurentius brings the issues of sequencing risk to life by using an example of two sisters with equal returns but different retirement income due to market loss timing. (And explores essential concepts along the way too.)
About Laurentius van den Worm CFA
Laurentius joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.
Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.
Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.
The team from Transact recently joined us to record a series of fantastic 5-10 minute audio treats. We hope you enjoy them.
Have you ever wondered what goes on behind the scenes when you place a trade on a platform? In this bite-sized Paraplanners’ Assembly Transact’s head of distribution, Glen Sweet, does just that.
In just FIVE minutes, Glen tells host, Richard Allum, all about trading points, settlement periods (including the difference between settlement of equities and funds), reconciliations, execution prices, trading windows…you get the idea.
When you consider the intro takes about 60 seconds it’s AMAZING how much insight and knowledge Glen packs in to his remaining 4 minutes and 23 seconds.
So if you’ve ever wanted to lift the lid on the workings of a platform, tune in to this episode for insights galore!
In the third episode of his series of bite-sized Assembly on investing, Timeline’s Laurentius van den Worm takes on the topic of sequencing risk.
In just 15 minutes he offers a working definition of sequencing risk he brings the topic to life with an example of two fictional sisters who – despite enjoying identical returns over their 30-year retirement journey – experience starkly different levels of income during…all because of the consequences of sequencing risk.
What’s more, Laurentius explores pound cost averaging and ravaging as well as the ‘4% rule’.
For paraplanners keen to top up on your investment know-how, it’s the ideal lunchtime listen.
Listen now
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Missed out on previous episodes?
Catch up now with the first two episodes this bite-sized Assembly series.
Part 1: On modern portfolio theory. Laurentius explores modern portfolio theory’s key principles – like diversification and concepts such as the ‘efficient frontier – illustrating the topic with practical examples.
Part 2: On asset allocation. Join Laurentius as he explores the topic of asset allocation, asset classes, diversification of risk, real estate investment, and performance of real estate investment trusts compared to global equities.
About Laurentius van den Worm CFA
Laurentius joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.
Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.
Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.
Timeline’s Laurentius van den Worm returns for the second in his series of four fast-paced fact-filled bite-sized Assemblies.
In the last episode, investment strategist Laurentius looked at modern portfolio theory (you can watch or listen to that episode after this).
This week, he takes on the topic of asset allocation.
Watch and – in less than 20 minutes – you will explore what asset allocation is and why it’s important. You’ll consider the characteristics of assets classes and what different types are. And you’ll dig into the question of whether asset class really are helpful if you want to diversify risk. Plus you’ll discover what the nature of the risks are.
Laurentius also asks why real estate is important before setting out the potential routes to gain exposure to property in a portfolio.
Finally, he takes a look at the performance of real estate investment trusts vs global equities – including a brief look at the correlation between global equities and real estate and what it tells us about the nature of diversification benefits.
Download Laurentius’s slides
Throughout his talk, Laurentius refers to a slidedeck. Follow the link below to download the slides as a PDF.
About Laurentius van den Worm CFA
Laurentius joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.
Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.
Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.
Timeline’s investment strategist, Laurentius van den Worm, serves up a fast-paced fact-filled bite-sized Assembly exploring the elements of modern portfolio theory.
Following a whistle-stop summary of the origins of modern portfolio theory, Laurentius introduces the five key principles driving the approach: risk and return trade-off, diversification, risk assessment and the correlation of assets.
And if you’re wondering ‘But that’s just four principles!?’, you’d be right. That’s because Laurentius goes pretty deep into the fifth principle: the idea of the ‘efficient frontier’.
As well as looking at the efficient frontier in theory before seeing how it really plays out in practice (using Timeline’s technology to illustrate it, of course).
Along the way, he considers criticisms of modern portfolio theory too.
Altogether, it’s a great primer that’s packed full of insights and information that will appeal to paraplanners at every stage in their career.
Listen to this Assembly
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Download Laurentius’s slides
Throughout his talk, Laurentius refers to a slidedeck. Follow the link below to download the slides as a PDF.
About Laurentius van den Worm CFA
Laurentius joined the Timeline Investment team in January 2022 after moving to the United Kingdom from South Africa. He serves as an investment strategist who oversees the fund research and selection, asset allocation and portfolio construction functions in collaboration with the CIO.
Laurentius has seven years experience in the South African investment markets. In his previous role, he served as an investment analyst and financial consultant in the wealth management industry in South Africa, where he gained experience in various financial activities, including portfolio management, investment research, financial analysis, and wealth management.
Laurentius holds a Bachelor of Commerce degree in Investment Management and a post-graduate diploma in financial planning from Stellenbosch University. He obtained his CFP® designation in South Africa in 2017 and is CFA Level 3 qualified in the UK.
There are times when we’re recording an online Assembly or bitesize video or dedicated podcast episode and we just think OMG EVERYONE IS GOING TO ABSOLUTELY LOVE THIS.
And that’s the case with this interview with consultant and founding director of About Consulting Group, Jon Dunckley.
Because this podcast is all about neurodiversity.
(Its origins lie in this comment by Planner12 posted at The Big Tent last year.)
And, as Jon (who is autistic) says very early on in the episode, neurodiversity matters to me, you and everyone.
After all, we each have a way of thinking that’s unique to us. We all occupy our place in a neurodiverse world.
But if the way we think is plotted on a spectrum, most of us would be considered ‘neurotypical’.
Yet plenty of us – at least 1 in 10 in the UK – function, learn and process information differently from the neurotypical.
Neurodifference and work
We may be neurodifferent but, despite thinking differently, we’re expected to adapt and succeed in a world that’s geared towards neurotypical people.
And that’s why we thought Planner12’s question – and the thread that their comment sparked – was such a great starting point to consider neurodiversity and its consequences personally and professionally whether we’re neurodivergent or neurotypical.
Because even if we’re not neurodifferent ourselves, people we work with will be. Either way, what do we need to consider about day-to-day working life so we each get the chance to thrive, contribute and gain fulfilment from work?
What do we mean by neurodifferent? What conditions are considered neurodifferent? If you’re neurodifferent, do you mention it to your employer? Do you need a diagnosis? What’s your approach to studying and sitting exams? How should you adapt your leadership style for a range of neurodifferent conditions? And how does your condition influence the way you manage your team?
Invaluable insights and practical tips
In just under an hour, host Richard Allum and Jon explore just about everything you could possibly want to cover.
Expect talk of autism, ADHD, dyspraxia, dyscalculia, dyslexia and dysgraphia. Learn about TIC syndrome, the ‘Pygmalion effect’, why people with ‘spiky profiles’ are good for business. Plus why job adverts should (a) encourage applicants with spiky profiles and (b) be really clear about what a job will actually involve.
And there’s so much more.
In fact, this is an area we’re going to explore more – and not leave it too long before we do. So if you think of anything that the Assembly could explore once you’ve listened please get in touch and tell us what you think.
Now, tuck in to this latest episode. We think you’re going to love it.
Listen to the Assembly
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A few of links mentioned by Jon during the episode
British Dyslexia Association: Dyslexia-friendly style guide
The Neurodiverse Workplace by Victoria Honeybourne
Think Human Business Writing course
BTS podcast: Neurodiversity and studying for regulated exams
PFS Power: Working with vulnerable clients
Cornell note-taking system (YouTube video)
Online Assembly: Design principles for reports
We recently teamed up with friend of the Assembly, Steve Sayer of Utmost International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.
In the first part of the series, Steve looked back at the last two budgets – the ‘mini-budget’ in September 2022 and spring Budget in March 2023 – to demonstrate the cumulative effect of ‘stealth’ tax rises and explore strategies to alleviate their effects.
In the second episode, he explored the flexibility of loan trusts and their potential for inheritance tax planning – especially in the wake of the freezes in nil rate and residence nil rate bands announced by the Chancellor of the Exchequer earlier this year.
In the final part of the trilogy, Steve considers discounted gift trusts as an alternative to loan trusts for inheritance tax planning.
In sharp contrast to loan trusts, the decision to execute a gift trust brings no flexibility but their appeal is the immediate inheritance tax advantages.
Whether they’re the right vehicle will depend on a number of planning considerations such as the ages of the applicants and the types of gift trust.
During his talk, Steve looks at the difference between absolute trusts and discretionary trusts, touches on issues like the consequences of pre-2006 flexible power of appointment arrangements, making gifts and insurance policies.
In the slides that you can download below, you’ll find two case studies:
Case study No 1: explores the issues a couple might consider when choosing between a joint settlor or single settlor discounted gift trust.
Case study No 2: a client who wants to invest in a discounted gift trust but wants to be able to secure a fixed level of withdrawals. By combining discretionary and absolute trusts they’re able to achieve their objective without exceeding their nil rate band.
Steve’s talk is ideal if you’re handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.
We’ve ‘chapterised’ the video above so you can navigate the video however you’d like – and provided the slide number/s too for easy reference.
To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.
CPD, downloads and links
Slides: Discounted gift trusts (opens a PDF in a new browser tab)
We recently teamed up with friend of the Assembly, Steve Sayer of Utmost International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.
In the first part of the series, Steve looked back at the last two budgets – the ‘mini-budget’ in September 2022 and spring Budget in March 2023 – to demonstrate the cumulative effect of ‘stealth’ tax rises and explore strategies to alleviate their effects.
In this episode, Steve explores the potential for loan trusts to feature in inheritance tax planning – especially in the wake of the freezes in nil rate and residence nil rate bands announced by the Chancellor of the Exchequer earlier this year.
Perhaps typecast as a bit of a ‘slow burn’ option in the past, Steve reveals the surprising flexibility that loan trusts offer clients. For instance, offering the ability to begin inheritance tax planning but not cutting off access to cash.
While the inheritance tax advantages of a loan trust may not be so significant initially, the growth of the funds outside the estate over time can accumulate to a substantial amount, providing future planning flexibility.
If you’re handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.
We’ve ‘chapterised’ the video above so you can navigate the video however you’d like – and provided the slide number/s too for easy reference.
To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.
CPD, downloads and links
Slides: Planning with loan trusts (opens a PDF in a new browser tab)
We recently teamed up with friend of the Assembly, Steve Sayer of Utmost Wealth International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.
In the first part of the series, Steve takes a look back at the last two budgets – the ‘mini-budget’ in September 2022 and Spring Budget in March 2023 – to demonstrate the cumulative effect of ‘stealth’ tax rises and explore strategies to alleviate their effects.
During the hour-long talk he deals with changes in income tax, capital gains tax, corporation tax, and inheritance tax.
Just hit play (above) to watch here or watch it on Vimeo. Alternatively, you can listen to Steve because his talk is also the latest episode of our podcast.
We’ve ‘chapterised’ the video above so you can navigate the video however you’d like – and provided the slide number/s too for easy reference.
To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.
CPD, downloads and links
Slides: Post-April 2023 personal tax changes (opens a PDF in a new browser tab)
Top slicing relief: planning strategies – online Assembly, 16 November 2022 »
Talking top slicing relief – online Assembly, 29 June 2022 »