Next Review Meeting Flashcards
1
Q
Identify 6 issues to discuss at next review with regards to SIPP inherited from Jane’s brother (6)
A
- investment performance against benchmark
- any plans to withdraw income or lump sums
- nomination forms completed
- market conditions
- legislation changes
- Charges
- New products
2
Q
Identify 8 issues to consider at future reviews re Nick and Janes investment portfolio (8)
A
- performance against a benchmark
- and changes to income needs
- changes to ATR or CFL
- changes in personal circumstances/ health / marital status
- new funds to invest
- market conditions
- regulations
- new products
- use of tax allowances and exemptions
3
Q
Identify 7 issues and adviser should discuss with N and K at their next review regarding IHT planning (7)
A
- change in personal circumstances
- change in financial objectives
- change in income or capital needs
- change in ATR
- change in CFL
- nomination forms completed?
- any changes to wills
- uses of gifting allowances
- gifts made
- legislation
- new products
4
Q
10 financial planning issues to discuss at next review (10)
A
- use of USA / CHT exemptions
- changes is legislation
- additional funds to invest
- changes to wills
- any gifting made
- future gifting planned?
- changes in income/expenditure
- changes in ATR or CFL
- need to amend current investments
- performance of existing investments against benchmark
- change in personal circumstances
- economic charges or market conditions
- new products available
5
Q
10 events to trigger a review (10)
A
- change in ATR or CFL
- need to use ISA or CGT allowances
- change in personal circumstances
- change in income needs
- wanting to make a significant gift
- need to change wills or nomination forms
- unexpected windfall
- health / long term care needs
- legislation changes
- adverse market conditions
