Consumer Duty: Myths Debunked, Uncertainties Addressed And Questions Answered

Does size matter? What does Consumer Duty really mean for small firms?

What about your firm’s Consumer Duty champion – do you know who this will be and the role they’ll play?

How can you be confident that you can evidence your firm’s Consumer Duty compliance?

Join Bankhall for this half-hour session, designed to address the myths, uncertainties and questions of advisory firms about Consumer Duty.

Bankhall’s Head of Wealth Propositions John Higginbottom will share his thoughts, insights and expert views. He’ll be joined by Andy Staines, Bankhall Regional Key Account Manger, whose regular conversations with advisers give him a unique perspective on the questions that are really keeping firms up at night.

Together, John and Andy will debunk the myths, address key concerns, and provide the clarity you need.

It’s often said that a good defence is a good offence. In the cyber world this proverb is championed by “ethical hackers” who penetrate devices and networks to identify vulnerabilities before the true hackers find them. For financial advisory firms a proactive attitude to cyber security is imperative given the sensitive data they hold and the recent increase in attacks to SMEs.

This session will share first-hand experience of hacking techniques and tactics as well as real life example of hacks they have both conducted as part of their ethical hacking work. Crucially the session will also explore how these hacks could have been prevented, top tips for talking cyber challenges and an opportunity to quiz the experts.

After attending this session, delegates will be able to:

• Identify the latest trends for SMEs in cyber security
• Describe command and control malware and it’s purpose
• List key recommended actions for improving cyber security
• Explain the difference between phishing, vishing and smishing
• Describe the key components of an effective incident response plan

Attend six different 30 minute boardroom sessions over the two days of the conference with Albemarle Street Partners, Baillie Gifford, Benchmark Capital, Goldman Sachs Asset Management, Orbis Investments and TIME Investments:

Baillie Gifford

Growth investing: reasons for optimism

Philip Scott, Investment Specialist, Baillie Gifford Managed Fund will discuss Baillie Gifford’s long-term investment philosophy and explain why, despite current stormy waters, Baillie Gifford continues to take a long-term view on investing, focusing on the fundamentals of great businesses with the potential to deliver consistent long-term returns. Philip will share why, even amid the current market turmoil, Baillie Gifford has confidence in its approach.

Orbis Investments (UK)

Balancing the blend

2022 was a difficult year in the industry – bonds didn’t diversify stocks and many multi-asset funds didn’t diversify one another. If one lesson was learnt off the back of this, it was that name diversification does not equal fundamental diversification. In this presentation, Rob Perrone highlight the importance of true fundamental diversification against the backdrop of the value versus growth cycle, the importance of rebalancing, and how a well-diversified, regularly rebalanced portfolio can improve outcomes in the decumulation phase.

By the end of this session, attendees will be able to:

• Distinguish between name diversification and true fundamental diversification

• Articulate the benefits of blending funds with different styles, including in decumulation

• Explain the benefits of regular rebalancing

Albemarle Street Partners

The rational case for optimism’: How entrenched pessimism not cautious optimism is the scourge of good financial planning

After a year of economic shocks it is easy to become despondent about the future. Indeed leading economic figures have been telling us that the future will be bleaker than the past for years to come. Albemarle’s Charlie Parker will argue that overly negative investing, and financial planning, is far more likely to stop client’s reaching their goals than cautious optimism. But to understand why we need to hear how today’s problems are just the echo of history. After attending this session, delegates will be able to: Explain how economic cycles change the sentiment towards returns of optimistic investors Produce a framework for making rational assessments for investment returns Specify the implications of pessimistic mindsets on long-term client outcomes.

Benchmark Capital

Building value in your business

Consolidation in the IFA market has been progressing at pace over the past few years, and with it an increasing demand for well-run, low-risk advice firms. Whilst acquirers grapple with increased interest rates and challenging returns, they are especially interested in DB transfers and understanding how firms are dealing with consumer duty. They also want to ensure that staff are well-incentivised and will come along on any succession planning journey. It's important to ensure your business is well prepared for this journey. Are you in the right position to pass it down to staff? Or to maximise sale price? How will any organic growth continue post-acquisition? And how can you ensure the client journey is not disrupted? Preparation is more important now than it has ever been; it takes time to ensure your business will make a success of succession planning.

By the end of the session, delegates will be able to:

- Understand the drivers and market dynamics of advice consolidation

- Learn the key metrics acquirers use to identify target firms and return on investment

- Assess whether these practices are good for the market and if your business is prepared

Goldman Sachs Asset Management

Solving for alternatives access

Liquid alternatives have experienced a proliferation of industry flows and many expect this trend to continue. Given the large and complicated nature of the asset class, advisors need to approach these investments with a strategic portfolio construction mentality. We will cover how to define true alternatives within a portfolio, the potential benefits of these strategies, implementation options, and sizing and funding guidance for allocating to liquid alternatives. We place trend following strategies into context and makes the case for trend following due to diversification with traditional core equity and core fixed income and the potential to profit from both upwards and downwards trends.

TIME Investments

The Importance of Utilising Business Relief in Estate Planning

Inheritance Tax (IHT) is an issue facing an increasing number of clients and their families. This is reflected in the steady increase in IHT receipts over the last decade, which have more than doubled from £3 billion in 2012/13 to over £7 billion in the last tax year.

Both the Nil Rate and Residence Nil Rate Bands are frozen until 2028, which is expected to push more families over the IHT threshold. We will analyse the IHT landscape and explore the tools advisers can use to help their clients calculate and minimise an IHT liability.

We will use a number of case studies to demonstrate the intergenerational planning opportunities for financial planners. In particular, we will focus on Business Relief (BR) and how it can be used in a number of different scenarios, including how to maximise the available NRB and RNRB allowances. Specific consideration will be given to AIM BR services and why now may be the time to reconsider investing in AIM.

Attend six different 30 minute boardroom sessions over the two days of the conference with Albemarle Street Partners , Baillie Gifford , Benchmark Capital , Goldman Sachs Asset Management , Orbis Investments and TIME Investments .

The sharing of 'good practice' has often been employed to help individuals and firms benchmark against regulatory interpretation, as well as general custom and practice. The need for a professional alliance across retail financial services has never been greater as we navigate this pre and post consumer duty landscape. The Financial Vulnerability Taskforce (FVT) established a vision for the financial services sector to be recognised as a 'safe pair of hands’ and extends the concept via the recently launched Consumer Duty Alliance, an independent professional body for the sector by the sector. During this session you will learn how the new Alliance will operate and how you can get involved.

In addition you will have an understanding of:

• The core objectives of Consumer Duty
• The role a Professional Alliance can play and benefits of ‘good practice’ sharing to enhance consumer outcomes and business opportunity.
• How embracing a culture of inclusion and unity can play a key role influencing the future regulatory landscape
  

A special clinic for attendees to drop-in and speak to an expert about preparing for and meeting Consumer Duty requirements.

In this session, Philip and Hugo will debate the pros and cons of white labelled platforms for advisers.

In his session Tony will be reviewing:

- The current tax context for financial planning decision making with special reference to investable capital. He will be considering the considerable impact of the changes implemented in the 2022 Autumn Statement and the 2023 Spring Budget

- The tax implications of choices in relation to investable capital with special focus on the important and expanded role of onshore bonds

- The importance of effective tax and financial planning to achieving intergenerational financial success

By the end of this session you will be able to:

• Describe the main tax changes implemented in the 2022 Autumn Statement and the 2023 Spring Budget
• Explain how those changes need to be factored into tax and financial planning decisions in relation to the investment of capital
• Identify appropriate situations when an onshore bond could deliver a tax beneficial outcome for investors
• Explain the main strategies for the effective use of onshore bonds and appropriate trusts in intergenerational planning
  

Attend six different 30 minute boardroom sessions over the two days of the conference with Albemarle Street Partners, Baillie Gifford, Benchmark Capital, Goldman Sachs Asset Management, Orbis Investments and TIME Investments.