Friday: Today includes a meeting with a pension consultant to put together reports that will help companies set up workplace pensions.
These reports will provide employers with a breakdown of their workforce into eligible, non-eligible and entitled employees. The rest of the day is spent making calls to clients who have inheritance tax liabilities. While this remains an important part of financial planning, it takes time for clients to decide whether they want to mitigate their liabilities. The fact that in most instances they need to survive seven years before the strategy will reach its objectives should mean people act quickly, but it does not. It is often added to the never-ending to-do list, along with updating their will and defrosting the freezer.
Geordie Bulmer is an IFA of Bristol-based Aisa Professional