Mnemonic’s

Question 1

PATHETIC WINE

Answer 1

P = Pension death benefits
A = Affordability or budget
T = Taxation: income tax, CGT, IHT
H = Health
E = Emergency fund
T = Trusts
I = Isa’s and National Savings
C = Capacity for loss and attitude to risk

W = Wills and guardianship
I = Inheritances
N = Nomination forms for pensions
E = Ethical considerations

Question 2

PASTE & TWIG

Answer 2

P = Product
A = Assured Life
S = Sum assured
T = Term
E = Extras

T = Trusts
W = Waiver
I = Indexation
G = Gaurantees

Question 3

Stamped Address Envelope (SAE)

Answer 3

S = State
A = Analyse
E = Evaluate

Question 4

NGF

Answer 4

N = Need
G = Got
F = Fill

Question 5

RAPPORT RAKI

Answer 5

R = Receive recommendations/implement financial plans
A - Analyse suitability of existing arrangements/ analyse client circumstances
P = Peace of mind/ clarity of explanation/ aids customer understanding
P = Consumer protection/ regulated advice
O = Ongoing service/ ongoing reviews
R = Benefit from research
T = Tax planning/ use of allowances/ tax efficiency

R = assess attitude to risk/ capacity for loss
A - Affordability/ budgeting/ cash flow
K = Professional / expert knowledge
I = identify objectives/ goals/ shortfalls/ problems