Name: Portfolio construction — worked examples: Episode 3 of 3
Start: 2023-03-07T10:00:00Z
End: 2023-03-07T10:00:44.000Z
Location: BrightTALK
Rating: 4.8

We are a specialist UK financial services group focusing on attractive segments of the UK retirement income market.  The Group is a leading and established provider of retirement income products and services to individual and corporate clients.

More and more consumers are looking for - and need - later life advice. The Financial Conduct Authority is focusing on outcomes-based approaches as well as good practice and support for clients in vulnerable circumstances.  Firms need to be ready to help, not just their clients, but family members, unpaid carers and attorneys when considering how to pay for care. We'll examine two available care advice models suitable for any firm type and explore how advisers can help clients avoid foreseeable harm related to care. Additionally, we’ll cover how to deliver comprehensive advice on paying for care and highlight some of the industry's innovative tools and resources to help advisers deliver an effective care advice proposition.

Learning Objectives: 
By attending you'll be able to:
• Explore how firms of any specialism can deliver comprehensive care advice to those who need it, as well as their family members, carers, and attorneys
• Share examples of good practice, showcasing how some firms are effectively delivering client care advice
• Identify key considerations when providing regulated advice on paying for care
• Highlight innovative tools and resources that can assist advisers in delivering an effective care advice proposition

Developing a care proposition

Retirement is often seen as the finish line—financially planned, eagerly awaited, and meticulously calculated. But what happens when the spreadsheets end and the silence begins?

Join us for an insightful and thought-provoking discussion with Dan Haylett, behavioural finance expert and author of the acclaimed new book, The Retirement You Didn’t See Coming. Drawing on years of one-on-one client work and behavioural research, Dan explores the emotional and psychological transitions that define life after work.
This online event will offer practical insights, and a human-first perspective on one of life’s biggest changes.

Learning Objectives: 
• Recognise the emotional stages of retirement and how to prepare clients for them
• Identify approaches to help clients build structure into their post-career lives
• Discuss how identity, relationships, and spending habits shift—and how to help people adapt
• Discover tools and exercises to help clients create a more purposeful retirement

Retirecast special – The ‘human’ factor

This webinar is designed for advisers who are keen to develop their understanding of long-term care provision. We’ll discuss areas where there can be a contrast between the theoretical rules and the realities of navigating the care system. We’ll illustrate how advisers can effectively assist clients and families in managing care needs and highlight the advantages of collaborating with other professionals who can provide valuable support. Karl Steadman will be speaking to Jacqueline Berry from My Care Consultant to provide real-life examples and experiences. 

Learning Objectives: 
By attending you'll be able to:
• Understand the differences between theoretical care provision and real-world application.
• Learn effective strategies for advising clients and families on long-term care needs.
• Identify the benefits of collaborating with other professionals in the care sector.
• Gain insights from real-life examples and experiences shared by experts in the field.

Long-term care – Theory vs reality

Setting out a visual image of how a client’s dreams and aspirations can be funded adds huge value. In fact, some would say it’s imperative. In this episode of Retirecast, we’ll explore the importance of stress-testing and visualising the retirement income plan. Joined by Gavin Shears from Fincalc, we’ll see how cash-flow tools can be used to map out the financial journey. We’ll discuss the nuances and expertise needed to manage expectations and fund the important things in life. Importantly, these tools can help inform what actions to take if things aren’t quite on track and we’ll examine the options for getting things back on course.
 
Learning Objectives:

By attending this session, you will be able to:
• Learn how to stress-test a retirement scenario
• Recognise the key differences between stochastic and deterministic approaches
• Consider key points in selecting a cash-flow tool
• Explore remedial options for getting retirement plans on-track

Retirecast Episode 4 - Time to go with the (cash) flow?

Join us for an insightful webinar as we discuss the themes covered in the CF8 Long-term Care examination. This session will highlight the crucial areas of the exam, offering a comprehensive overview of the key topics. We’ll also address the aspects where people often seek clarity, providing explanations and practical guidance to help you excel in your exam. This webinar is also helpful if you’re looking to refresh your knowledge of long-term care funding, ensuring you'll be well-equipped with the understanding needed to help clients and their families. 

We’d really encourage you to submit any questions prior to the event, so we can discuss what’s important to you. You can submit any questions here – events@wearejust.co.uk  

Learning Objectives: 
• Identify and understand the key themes and topics of the CF8 Long-term Care examination.
• Gain clarity on commonly misunderstood areas, improving your comprehension and retention.
• Apply practical tips and strategies to enhance your exam preparation and performance.

CF8 - Examining the themes

Having previously looked at the technical and personal factors in setting objectives, we’ll move on to the ways in which they can be met. What is the best approach given the client's circumstances? How do you provide evidence to support either an investment-based plan or a safety-first strategy? Is a combination of different solutions most appropriate? What are the factors we need to consider and how might these change through retirement?
In this session, we’ll explore how to align the client’s objectives and characteristics with a plan designed to achieve their retirement goals. We’ll consider various approaches, examine the advantages and disadvantages of each, and evaluate how a single or blended approach might be suitable.

Learning objectives: 

• Recognise the main methods of using investments to produce an income
• Discuss the impact of the variable assumptions that can be applied
• Recognise the investment challenges that may exist  
• Understand the relevance of guaranteed income in an overall retirement plan

Retirecast Episode 3 - Sustainable strategies for spending

When it comes to long-term care provision, people aspire to a decent standard of care. Yet the fact so few people make formal plans for their own future care means that if and when that day arrives they – and their family – face a steep and expensive learning curve at a time of high emotion. In this session we explore the findings of our recent Care Report, shedding light on the main concerns and what advisers can do to respond.

Learning Objectives: 

• Understand the current concerns for clients and families facing a care need
• Explore the expectations and reality of care provision in the UK
• Recognise the barriers to seeking care advice
• Explore how to develop a care advice proposition and how to respond to the increasing need in this area

The Care Report

Having previously looked at the need for a specific retirement advice process in episode 1, this session explores what’s needed to fully understand a client’s aspirations and the steps needed to achieve them. After all, every client is individual, so how does a single process respond to numerous financial needs? How do you account for differing levels of client understanding that might influence the reality of retirement goals? We’ll look at the level of detail needed to put together a plan that meets a client’s personal and financial goals taking into account characteristics that need to be documented and understood.

Learning Objectives:

Understand the behavioural drivers influencing retirement outcomes and the need to evidence these
Examine factors that can influence attitude to risk and risk capacity
Recognise broad segments of clients and the information needed to personalise advice to individuals
Appreciate the financial and non-financial value of secure income

Retirecast Episode 2 - This time it's personal

The thematic review of retirement income advice highlights the need for a different approach as clients move from saving to spending. The transition from ‘accumulation’ to ‘decumulation’ presents a number of key challenges and it’s important that the risks are covered and actions evidenced. In this first session, we’ll look at the key aspects and the ‘foreseeable harms’ that need to be accounted for. We’ll also explore the need to consider all strategies, including guaranteed income and the benefits from a regulatory, firm and, most importantly, client perspective.

Learning Objectives: 
• Identify the main advice aspects through the ‘consumption frame’.
• Explore the components of an advice process for retiring clients.  
• Recognise the place for Secure Lifetime Income as part of an overall strategy.

Retirecast Episode 1 - Why spending needs a different approach to saving

In the FCA’s Dear CEO letter in October 2024, they emphasised the importance of ongoing advice and maintaining appropriate records to demonstrate good outcomes.

For those taking benefits, aspects of the plan are likely to change through retirement, whether that be due to changing legislation, personal circumstances or portfolio suitability. Helping clients to understand any ‘resetting of the sails’ is hugely valuable. But how do you demonstrate the actions that have been agreed and that the client has understood them?

In this webinar, Andy Kirby from Money Alive will join us to discuss the techniques and tools that can be used to evidence the steps that have been taken. We’ll show how better understanding leads to better client outcomes.

By attending this webinar, you’ll be able to:

- Recognise the types of changing circumstances likely in retirement
- Develop a process for evidencing ongoing suitability
- Identify the place for technology and skills in the ongoing advice process

Retirement - Communication and consumer understanding

Whilst numerous initiatives around care funding have been proposed over the years, many clients are left unaware of the realities of the long-term care system. They need professional advice at a time when they may be in acutely vulnerable circumstances. Advising in this area can be rewarding and beneficial for both clients and advisers, but it also requires specific knowledge and skills around navigating the care system and securing funding. We’ll be joined by Jacqueline Berry, Managing Director at My Care Consultant, to help us explore how to put things in the right order and the fundamental steps needed to help your clients receive the care they need. We’ll help you understand the current and future trends in the long-term care market and the implications for clients and advisers. 
We’ll also introduce you to an exciting new program from My Care Consultant which will help you to explore these areas further.
Learning Objectives:
• Identify the current and future trends in the long-term care market and their implications for clients and advisers
• Explain the common challenges and misconceptions that clients face when planning for long-term care and how to overcome them
• Recognise the principles in assessing state or self-funding of care
• Recognise the benefits of advising on long-term care for your clients and your business

The ‘uncapped’ need for care advice

Recent FCA guidance on retirement income advice puts a lot of emphasis on creating a robust plan, showing how to achieve the client’s objectives based on all the information on file. But it’s not just about the hard data - it’s also about knowing the client, their need for flexibility and various retirement goals. In this session, we’ll explore ideas and industry guidance on how to review a client’s plan throughout retirement and into later life. 

Learning Objectives:
• Examine the key factors in a review process 
• Discuss important industry guidance on good practice relating to pension reviews 
• Recognise the impact of health, ageing and other client characteristics

Retirement lifestages and the value of reviews

Pension annuities are a popular means of securing a guaranteed income for life. However, the amount of income that an annuity can provide depends on several factors, such as the age, health, and lifestyle of the annuitant, as well as the type and features of the annuity. The role of the adviser in guiding the client through the process can make a big difference to the accuracy of the rate and ensure the client gets the income they are entitled to.

In this webinar, you’ll discover the key factors that affect the annuity underwriting process and how to provide the necessary information to the annuity provider. You will also learn how to avoid the common areas of missing information and errors that can delay or reduce the annuity offer. By the end of this webinar, you will have a better understanding of how to help your clients achieve the best possible income from their annuities.

Learning Objectives:
• Explain the main factors that influence the annuity underwriting process and how they affect the annuity rate.
• Provide the necessary information to the annuity provider in a clear and accurate manner and avoid common pitfalls that can cause delays or errors.
• Compare different features of annuities and advise your clients on the best option for their needs and preferences.

Underwriting uncovered - How to get the best guaranteed income for life

Join us, along with our expert guest Andy Schleider, for an informative webinar on the role of a paraplanner. We’ll be talking about:

- skills and qualifications needed
- tasks and responsibilities of the job
- tools and software used 

We'll also explore the challenges and opportunities that paraplanners face, and how they effectively communicate and collaborate with financial planners and clients. 

Learn how to balance multiple projects and deadlines, measure and demonstrate your value, and keep up with the latest trends and developments in the financial industry. 

Andy will share best practices and tips for aspiring and current paraplanners, and discuss career paths and prospects in the field. 
Don't miss this opportunity to learn more about the exciting and rewarding career of a paraplanner.

Learning Objectives: 

By attending this webinar, you’ll be able to:

- Recognise the challenges and opportunities that a paraplanner may face
- Understand how to effectively communicate and collaborate with financial planners and clients
- Identify how to best manage multiple projects and deadlines

Presenter(s): Karl Steadman, Just and Andy Schleider, Director Haven Paraplanning 

CPD: 45 mins

From data to decisions : The art of paraplanning

For many people, property is their main source of wealth. However, this asset is often used to pay for additional needs in later life, such as long-term care. At the same time, some clients may be keen to leave a legacy or at least ensure their family aren’t left with the worry of financial debt.

There are a number of ways in which property equity might be used in later life. There may be circumstances where a lifetime mortgage is suitable, or an existing plan can be flexed to respond to changing circumstances, or an immediate needs annuity might be appropriate.  Either way, personalisation of the options can make a big difference. 

Learning Objectives:

• Recognise the place for equity release in later life.
• Understand the options that might be applicable where a care or other need arises.
• Discuss the wider options for accessing property equity in later life.

CPD: 45 mins

Life stages - Session 3 - The use of property in later life

In this session, we’ll look at the main themes of the FCA’s Retirement Income Thematic Review. We’ll discuss the key findings and how to translate these into practical steps to demonstrate a robust approach to retirement income advice. We’ll look at the assessment tool released by the regulator as well as other resources that will help to formalise a plan to meet your clients’ retirement objectives.

Join us for this informative and interactive webinar, as we  discuss how to provide a good retirement income advice service that meets the FCA’s standards and delivers positive outcomes for your clients.

By attending this webinar, you’ll be able to:

• Explain the FCA's expectations and principles for providing retirement income advice
• Apply best practices and tools to document and evidence your retirement income advice process
• Evaluate and improve your retirement income advice processes

Retirement - Unpacking the thematic review

In 2024, the FCA will review how firms treat vulnerable customers. They’ll check the approach firms take in understanding and responding to consumer needs and have specifically mentioned the inclusion of older customers in vulnerable circumstances.
But, of course, it’s not just the elderly that face vulnerabilities. What about those who support people with additional care needs? The reality is that by age 50, around half of the population are supporting someone in this way. Often this group is ‘hidden’ as they may not see themselves as unpaid carers, yet the FCA has recognised this issue as a potential driver of vulnerability.
This webinar will give practical guidance on how to identify, understand and support clients with caring responsibilities as well as examine new guidance from the regulator and examples of good practice. 
We’ll also look at a new tool from My Care Consultant designed to help clients and their families avoid harm when dealing with care needs.

Learning Objectives:
By attending this webinar, you’ll be able to:
• Recognise the characteristics and challenges of unpaid carers and how they may affect their financial wellbeing
• Identify the FCA's expectations and guidance on supporting vulnerable customers, including unpaid carers
• Apply practical tips and tools to help your clients and their families navigate the care system and avoid harm

CPD: 60 mins

Vulnerability - How to help the UK's 'hidden' carers

When it comes to reviewing a client’s retirement plan, many things may have changed since the initial advice was given. Those reliant on investments may have seen their funds impacted by recent events, requiring a need to reassess the assets they are using to sustain their financial needs in retirement. For those already using equity release, it’s important to ensure that the plan still meets their needs and if it’s appropriate to use some of the flexible options available.  Perhaps new objectives can be met through further borrowing or there may be an opportunity to reduce the liability.  Depending on the value of the property, changing lifestyle or medical circumstances, it may be appropriate to reassess the use of equity from the home. 

Learning Objectives:

• Consider when it’s appropriate to bring property into an existing retirement plan.
• Understand the options when reviewing ongoing suitability of equity release.
• Recognise how flexible options can be implemented.

CPD: 45 mins

Life stages - Session 2 - Retirement reviews and the use of property

Whilst no two clients are the same, we’ll look at some common elements that are fundamental to creating more sustainable retirement income. This webinar explores a wider view of blending solutions. We’ll be going beyond the traditional view of guaranteed income and asset allocation, to show how replacing some fixed income with guaranteed income can improve long-term portfolio values.

Learning Objectives:
In this webinar you’ll be able to:
• Re-examine the risks associated with decumulation 
• Understand what the positive correlation between bonds and equities mean for retirement income portfolios
• Discuss the longer-term benefits of blending guaranteed income and investments

Register now to join us for this webinar and earn 45 minutes of CPD.

Creating more sustainable retirement portfolios: Episode 2 of 3

Over recent years creating a diversified portfolio of capital market assets has been the retirement income portfolio trusted solution. The received wisdom being that if one asset class falls, the other will have an opposite effect, dampening down the overall risk. However, recent positive correlation of equities and bonds has called this theory into question. In this webinar, we’ll examine what this means for retirement income clients. We’ll start to explore a more sustainable approach to income and examine where the opportunities lie.

Learning Objectives:
In this webinar you’ll be able to:
• Understand the impact of the economic environment on retirement income portfolios
• Discuss the impact of markets on financial resilience and sustainability
• Recognise the market developments in guaranteed income

Register now to join us for this webinar and earn 45 minutes of CPD.

Retirement portfolio challenges: Episode 1 of 3

Retirement portfolios – time for a more sustainable approach?

In this webinar we’ll focus on worked examples of portfolio construction to show how you can apply the theory discussed in this webinar series to a variety of client scenarios. We’ll demonstrate how getting the balance between security and flexibility doesn’t mean watering-down long-term portfolio values. You’ll see how the outlook for investment assets and legacy benefits can be significantly improved when each element of the portfolio does the job it was designed for. We’ll also look at how the portfolio can be stress-tested using data that can show the results in an instant.

Learning Objectives:
In this session you’ll be able to:
• Understand how legacy provision can be improved
• Consider how higher levels of income can be sustained
• Explore how retirement plans can be made more resilient

Register now to join us for this webinar and earn 45 minutes of CPD.

Portfolio construction — worked examples: Episode 3 of 3

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Portfolio construction — worked examples: Episode 3 of 3

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About this talk

Just - The Retirement Specialist