This includes a new ‘withdrawal optimiser tool’ designed for ongoing client reviews and helping advisers place a monetary value on their tax planning recommendations.
David Tiller, the firm’s head of adviser propositions and strategy, said that one of the programme’s key commitments was to streamline ongoing drawdown reviews and withdrawal management.
“We believe this toolkit will help advisers to do just this. Each step forward in efficiency means more people get to benefit from quality financial advice.”
The toolkit offers a ‘how to’ guide and template firms can use to structure policies and share with clients. The tool models different withdrawal scenarios and then produces a client report illustrating the client’s chosen strategy.
Created by Standard Life’s technical consulting team, the optimiser will be regularly reviewed and updated to ensure consistency with the latest legislation.
Tracey Underwood, managing director of DB Wood Wealth & Risk Management, added: “The new tax planning tool will create real business efficiencies for us, allowing us to spend more time in front of our clients while also assisting us in providing detailed, accurate planning outcomes.”