The week starts with an adviser meeting, in which we discuss issues and share ideas. This leads to a presentation from a product provider that has come to brief and provide training to the advisers on products and developments in the market – Monday morning is a good time to find advisers all in the same place.
In the afternoon I meet with my paraplanner to discuss the week’s workload and any pending cases. The rest of the day is spent responding to client queries and finishing administrative tasks before heading out to an evening appointment to review an existing investment.
A long-term client has decided to retire from the role of trustee and asked me if we could take the case. It is quite a sizable trust with trustees living abroad and if not carefully handled could become a laborious process. We agree timescales and conclude the review.
Next up is a meeting outside the office with a prospect who has contacted me via a recommendation site to discuss his existing pensions. He is confused about the new pension legislation and from our conversation I identify he has the potential for lifetime allowance and annual allowance breeches.
This prospect could benefit from our financial planning services and we discuss how to take things forward.
After driving back to the office, I type up my notes and start developing an action plan, but the details will have to wait. I leave the office on time to get back home to watch my Portuguese football team, SL Benfica, play against Dynamo Kiev. A busy day ends with a 1-0 win for my side.
Today is the meeting of the PenLife investment committee that meets regularly to discuss our Model Portfolios. It has been an eventful few months for markets, and we turned our attention to property funds, many of which closed since the Brexit vote.
The committee discusses how any future closures would affect the portfolio rebalance process and the best way to minimise any future occurrences.
In the afternoon I spend time working on cases before ending the day with a review appointment.
PenLife hosts a professional development seminar today at a nearby hotel to facilitate links with solicitors and accountants in the Yorkshire region. It is an annual event and this year we invited guest speakers from SIFA and an expert in taxation.
The event proved once again to be popular with the professional connections who attended, and it was a good networking opportunity for our different but connected professions.
It is an early start as I begin a long drive to meet a client at their offices. On the agenda today is a discussion about ways to mitigate tax this current tax year, including pension contributions and what advantages a higher rate taxpayer has.
From what I know of the client’s investing experience, I identified that venture capital trusts could be an appropriate addition to his asset mix. He likes the idea of being able reclaim income tax up to 30 per cent.