Excess reportable income system needs major overhaul

'Exactly what the regulator is looking consign to the history books'

clock • 4 min read

Michael Edwards looks at the complex topic of excess reportable income and the challenges posed by offshore funds...

Adviser appetite for managed portfolio solutions (MPS) is at an all-time high.  In fact, recent research from The Lang Cat suggests that MPS has become the most dominant segment in firms' central investment propositions.  Given the evolution of advice and the regulatory demands placed on firms, this shift seems inevitable and enables advisers to focus on what they do best. An unintended consequence of this shift to MPS is that clients often end up with holdings in offshore reporting funds. And when these are held in a general investment account, clients must report excess reporta...

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