Your LifeTalk Insider #70

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Welcome back…

From LifeTalk and Adviser Growth Community this week:

Thanks to everyone who has subscribed to LifeTalk Insider - Let’s get stuck in…

Paddy and 7 others: Personal Chattels such as watches, jewellery etc. If not bought close to death, how does HMRC determine or find out the value of these pieces? What happens if these go undeclared upon death? Click…

LifeTalk member and 38 others: I’m trying to open a company bank account. Any suggestions for financial advisers? Click…

Kasia and 12 others: I am after your views and experience please regarding dealing with attorney for a client who has lost mental capacity and has been moved to Residential Care last week. Click…

Mark and 11 others: Age 75 Rule from 06/04/2027 - Digesting the huge changes to come, including the Govt’s own consultation paper, I am still not clear on taxation if death is before age 75.

IHT assessed on the Pension at any age, but if death is before 75 will the beneficiaries still enjoy the post-IHT swipe fund tax-free? Nothing in the many examples given says no, yet nothing suggests yes. I suspect the former, a hideous double-taxation, even on such relatively or very early death, but is there anything definitive out there? Click…

Stephanie and 11 others: Looking for Banks etc who will open fixed rate cash accounts either singularly or multiples to hold Trust monies. It's not a lot one is only to be held for 1 year about £12k. The other is for a multiple of potential time spans - covering only £18k. Oh and to top it off they look like they need registering with the TRS!

I am thinking possibly Metro Bank, Starling or NS&I but really have no idea. Can anyone point me in the right direction? Click…

Thomas and 16 others: Intrigued how the industry will manage GIA investments with the increases to CGT coming and lack of CGT allowances.

If your investment proposition inside pensions/ISAs is investing in an MPS, do you typically avoid this in a GIA, investing in unitised versions perhaps and let the gain build up within the fund with little management? Or stick to an MPS in the GIA and pay the gains as they come? I realise it will also depend on ones situation but interested to hear the thoughts of the hive. Click…

Christopher and 22 others: I learned a new term today from a client of mine - 'Pactive'. Apparently its a passive fund management strategy with a bit of active thrown in for good measure.

So let me get this straight, they clearly understand that passive is the correct approach if you are going to adopt an evidence based investment philosophy. But then they throw in a bit of what the evidence does not support? How does that work?

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Eamonn and 9 others: I would be interested in any feedback on Fintegrate (pros and cons). Thanks. Click…

Richard and 14 others: A new client enquiry - She works on a Yacht earning Euro 7500 pm. Lives in England. Doesn't pay UK Tax as out of the country >180 days per year (has been for 15 years), up to date with HMRC in this regard. Has a mortgage on house in UK £200k @ £1500 pm. What would you suggest for spare money? Click…

😮 The real prize of AI for IFAs, financial planners and advisers is nothing to do with streamlining processes, writing suitability reports or creating marketing content. True, it's a good place to start - but the real prize is much bigger than that. Click…

David and 33 others: DB and IHT? I'm reading that the IHT rules apply to DB schemes but I'm perplexed as to how DB schemes would be pulled into this.

Does it mean that an eligible partner or other dependent who is not spouse/civil partner could pay IHT because they are entitled to a pension? If so, how could that income stream be valued for probate? Click…

Posts from Adviser Growth Community this week:

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The Adviser Growth Community - brings together financial advisers experiencing change or transition in their business so that they can gain clarity whilst also attracting more of their ideal clients.

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If that’s you, you should come and join us…

👉 The Budget: one week on (PR opportunity for advisers)

Tomorrow, a week will have passed since the Budget. Newspage is putting together a number of stories on what business and charity owners think of it now that the dust has settled and you've had time to digest all the changes announced.

What did the Government get right and what did it get wrong in your opinion? Has it impacted your business already and how do you think will it impact you and your sector moving forward? Click…

👉 How AI can help with your Budget comms

I trained my AI clone to answer questions on the Budget. Click…

🚀 Latest networking events

Here is the latest list of online and in person networking events around the UK. Click here…

😮 Are you asleep at the wheel?

Maybe it's actually helping with your productivity...

If you work from home, a recent survey reveals that one in ten British employees admit to catching some shut-eye on the job. This trend could mean up to 4.3 million workers across the UK are napping while they work, costing an estimated £500 million (€592 million) weekly in lost productivity, as reported by The Times.

However, could napping actually offer productivity benefits? Studies suggest that… Read more…

😮 AI Lunch and Learn for advisers

Here’s the recording from our very first AI Lunch and Learn session. No geeky stuff, no formal agenda - just a wide ranging discussion around AI for financial advisers. Click…

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