Nucleus launches guide on platform and pensions

Adviser-owned wrap Nucleus has rolled out a “step-by-step” guide on legislative changes to platform payments and pensions.

Aimed at helping advisers navigate their way around a series of upcoming changes to regulation, Nucleus says it offers insight into how the changes will affect their clients.

The guide offers step-by-step advice on how best to deal with PS13/1 – the policy statement on payments to platform providers; changes to lifetime allowance and how to interpret the Autumn Statement on pensions.

Article continues after advert

The pension lifetime allowance will be cut to £1.25m in April 2014 from £1.5m.

Nucleus said this means that advisers will be required to act on behalf of their clients by supporting the application for protection of the current allowance.

Advisers will also find themselves being called upon to help explain the changes and the implications of these changes to their clients, “so it is important that they are clued up before the adjustments come into force”.

Nucleus said this latest guidance forms part of its commitment to helping advisers successfully navigate the impending regulatory changes in April, and follows its publication of its white paper on due diligence.

Garry Mcluckie, Nucleus’ communications director, said: “For many advisers this will be just another way of maintaining a great relationship with their clients.

“We thought it was important to look at the way in which changes to platform and pensions legislation are likely to impact on the end customer, and to help advisers explain what are relatively complex pieces of legislation in a language their clients will understand.

“We hope that this guide will assist advisers in taking the necessary steps now to ensure a smooth ride for everyone in April.”