The plan to lift inheritance tax (IHT) exemption on pensions is causing “vast” changes to advisers’ working lives, according to Flagstone head of strategic relationships and new business Claire Jones.
The IHT liability on pensions is forcing change in how financial advisers spend their time and what they discuss with clients. Flagstone's IFA research found that 64% of advisers are spending more time improving their own understanding of the shifting IHT framework. Meanwhile, 31% are spending more time on compliance and documentation associated with the impending change to pensions, 15% said spending more time exploring platforms and technology they will need to suit changing client requirements, and 43% feel disappointed that they do not have all the answers on the subject for their c...
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