On the 12 September 2019, paraplanners gathered in a teepee to learn, fix, share on a host of topics. Given that there was so much information to scribble down, the jolly folk that hosted the campfires and pick n mixes have sent over all their links and resources. So we’ve popped it all down in a handy link pack.
However, before you get click-happy, here’s a few snaps from the day…
Paraplanning tips campfire with Aleks Sasin and Jackie Manning
A number of you asked for a list of the books mentioned in the session and here they are:
- Getting Things Done – David Allen
- Deep Work – Cal Newport
- The One Think – Gary Keller
- Eat That Frog – Brian Tracy
The Mac app mentioned that focuses on the active window only is HazeOver.
Bonds vs Collectives campfire with Neil MacGillivray and Andy Marshall
The lovely folk of James Hay have sent over a copy of Neil’s presentation on Investment Taxation, plus here’s some handy links on capital gains tax,offshore bond guide and offshore single premium bonds.
CRP campfire with Jonny Stubbs, Martin Lines and Tim Coverdale
Here’s Jonny with more on the Withdrawal policy statement.
Who created it?
Although I can’t take all the credit as it was a mish-mash of various examples I’ve found over the years on the t’internet and using the same framework we use for our Investor Policy Statement. If anyone’s interested… No? Oh, just me then… This is apparently the guy who first came up with the idea for a WPS.
What it’s for?
It helps a financial planner to set a pre-agreed framework/mandate with a client for how they plan on withdrawing money from their various assets to meet their income needs after they stop receiving income from employment. It also sets out in advance what action the planner/client will take in the event of planned and unplanned events e.g. when and how should income be adjusted in the event of market volatility, major crash, inflationary pressures, unexpected expenses, poor performance etc. The idea is that it is reviewed each year at the annual review and a new copy signed together with a record of any tweaks or changes made to the document.
Any health warnings?
The example I’ve provided is just that, an example, and anyone using it should make sure it is personalised to their particular firms views, compliance, and client circumstances and objectives etc. It’s also not a fire and forget solution. The power of it comes from revisiting it every year with the client and getting them to re-sign it to confirm their understanding. Kinda like ‘a (financial) plan on a page’.
Useful links
- From the horses mouth
- A great overview of what suitability really means here
- Some great material from Just on all things CRP including practical examples
- Institute and Faculty of Actuaries: ‘Can we help consumers avoid running out of money in retirement?’
- The Yin and Yang of retirement income philosophies
- Good general overview of managing drawdown here
7IM’s Retirement Income Service
This link provides technical insight into why they follow a “bucketing” approach.
Financial Wellbeing ‘Pick n’ Mix’ session with Chris Budd
Need a reminder of the key elements of Chris Budd’stalk on financial wellbeing, then look no further than here.
Investment Research ‘Pick n’ Mix’ session with Nicki Hinton-Jones and Guy Anderson
Nicki Hinton-Jones of XPM Consulting’s slide from the investment research ‘Pick n Mix’. To find out more about Nicki and her work visit her at xpm-consulting.com
The slide lists the four key areas of due diligence research for investment products and services.
Octopus Investments Handouts
Just in case you whizzed past their handouts here’s the adviser gap report and the Octopus IHT intergenerational research report.
Nathan Fry Notes
Powwow regular, Nathan Fry has very kindly sent us a copy of his notes from the day too. Have a read of them here.
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