Bento Bulletin

Please find below the most recent articles from our Panacea Bento Bulletin.

To read articles from a previous issue, click on the issue number which will open up a full list. Click on an article's link to read the full story.

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Bento 1099: 'FCA consultations, are they worth the effort?' survey
13 Nov 2019

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The FCA carry out many consultations, all for very good reasons, at least we hope that is the case. But there is a suspicion in the intermediated distribution world that the reality is the decision has already been made and that the consultation is there to demonstrate the inclusiveness of the regulator in its willingness to consult and nothing more.
 
 
   
 
 
 
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A step-by-step approach to explain the intricacies of the MPAA. What happens when it is exceeded, what's the impact on the annual allowance, what events trigger it, and much more.
 
 
 
 
 
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Sahil Shaikh, Portfolio Manager and M&G Treasury & Investment Office, discusses the good news amongst the bad in a slowing global economy, whether he thinks the looming global recession will be different to last time & how much impact the US/China trade war is having on the market's volatility.
 
 
   
 
 
 
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Rathbones’ annual adviser seminars return early in the new year, with 28 events taking place across the UK. The seminars will run from 14 January to 5 February. 
 
 
 
 
 
 
 
 
How healthy is the US economy? European Central Bank – end of an era? How is UK business investment faring amid Brexit uncertainty?
 
 
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This is essentially a flexible, short-dated corporate bond fund, with the manager asset allocating between investment grade and high yield credit as he sees fit.
 
 
 
 
 
 
 
 
Thursday 14th November The harsh reality is that the Woodford saga is the latest of a very, very long list of issues that have caused significant reputational damage for the financial services sector.  
 
 
 
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Bento 1098: How to deal with an erratic business partner
11 Nov 2019

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Say you own a small stake in a company. Every day, one of your partners tells you what he thinks the business is worth, and he offers to buy your stake or sell you another on that basis. Sometimes his idea of value seems justified by the company’s prospects. But other times, his excitement or fears run away with him, and the value he suggests seems little short of silly.
 
 
   
 
 
 
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Rathbones’ head of asset allocation Edward Smith explains why he believes that responsible capitalism is in every long-term investor’s self-interest – even if they don’t care about the societal benefits.
 
 
 
 
 
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Prudential conducted adviser research in 2018 that generated some interesting statistics. Nearly three out of four firms have specific riles for advising vulnerable clients, and half train staff to spot signs of cognitive impairment. 
 
 
   
 
 
 
 
 
 
 
Four easy steps to highlighting the financial impact the loss of a key person would have on your clients’ business. Aegon’s Business protection liability audit  helps you get business protection on the agenda.
 
 
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Schroders & Octopus Investments would be delighted if you would join us for The Great Wealth Transfer breakfast seminar starting at 8.30am on Wednesday 4 December at 1 London Wall Place.
 
 
 
 
 
 
 
 
Listen to Aegon’s investment team chat about Brexit and its potential impact, and hear a roundup of global asset class prospects.
 
 
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Watch the Square Mile talking factsheet on M&G Global Dividend
 
 
 
 
 
 
 
 
If a client is self-employed, they won't be able to rely on common employer benefits such as death-in-service cover or sick pay.
 
 
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Wealth & money management awards
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Bento 1097: Hearing is not always listening
6 Nov 2019

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How many presentational skills courses have you been on? How many books about public speaking are lying half read around your house? 

We get so much help and information these days on communication, but how often do we learn about listening?

 
 
   
 
 
 
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Use Aegon’s Sample business protection factfind to help identify gaps in your clients’ existing cover arrangements.
 
 
 
 
 
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Panacea Adviser the online community and resource for financial advisers and paraplanners, has today announced Columbia Threadneedle Investments as the latest firm to join its growing roster of provider partners. 

 
 
   
 
 
 
 
 
 
 
Recent guidance from the Office of the Public Guardian (OPG) simply reaffirms the potential problem of leaving IHT planning to late in life.
 
 
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A conviction based global equity fund seeking growth opportunities
 
 
 
 
 
 
 
 
Studies show that stress at work is often caused by long hours, fears over job security, work relationships and lack of resources. With Stress Awareness Day on 6 November, here are some solutions to help you and your clients.
 
 
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Bento 1096: A nice little earner...no more
4 Nov 2019

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"You make contact with your customer. Understand their needs. And then flog them something they could well do without.”

This appears to be the ‘outcomes view’ of the FCA on car sales and finance and as a result new and used car dealers commission is about to come under the FCA spotlight.

 
 
   
 
 
 
 
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A report looking at the value of Discretionary Fund Management (DFM) has unveiled clear distinctions between two camps of advisers, the adopters and non-adopters of a third-party investment manager. Yet, one important question remains, how do the two camps compare when it comes to investment performance?
 
 
   
 
 
 
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Looking to provide a consistent and reliable level of outperformance. 
 
 
 
 
 
 
 
 
Giving your time for volunteering could be the start of something special… for your business, too.
 
 
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There is a wide range of stakeholders getting involved including politicians, policymakers, regulators, professional bodies, academics, law firms, regulation consultancies, pension schemes, asset managers, financial planners; and all types of commercial organisations.
 
 
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If a client is self-employed, they won't be able to rely on common employer benefits such as death-in-service cover or sick pay.
 
 
 
 
 
 
 
 
Join Aegon’s Head of Portfolio Management, Richard Whitehall, on Wednesday 6 November 2019 at 4pm, as he gives a detailed view of the outlook for global asset classes.
 
 
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Bento 1095: Turning clients away - is it good for business?
31 Oct 2019

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Towards the end of last year, I was privileged to be invited along to a focus group for a financial planning client of mine.
 
 
   
 
 
 
 
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An all-cap portfolio with a focus on sustainable growing companies that can be held for the longer term. 
 
 
   
 
 
 
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Advisers have told us we could make life better for them and their clients by combining life and critical illness cover in a single product for mortgage protection. So here it is. 
 
 
 
 
 
 
 
 
Confused by Brexit? Unsure what it means for your holiday money? There have been so many queries about Brexit ahead the UK’s scheduled departure from the EU on 31st October that FairFX has set up a dedicated Brexit Support Desk.
 
 
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Position business protection with your clients without having to discuss insurance-based solutions.
 
 
 
 
 
 
 
 
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World trade is weakening and regional economic growth is slowing – so how could this be good news for Asian exposure?
 
 
 
Wealth & money management awards
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Bento 1094: What are clients really paying for?
25 Oct 2019

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Patsy Rodenburg is one of the world's leading acting and voice coaches, having worked with famous names including Judi Dench, Ralph Fiennes, Daniel Day-Lewis and many others.

She has also very successfully taken her work into the business environment, helping people to operate from what she calls second circle.
 
 
   
 
 
 
 
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Whether you’re new to the business protection market or not, Aegon’s Business protection toolkit has something for everyone.
 
 
   
 
 
 
 
 
 
 
The movement towards more sustainable investment opportunities in 2019 is driven by both big institutional investors and millennials, and this theme is reinforced by the findings of our recent survey of high net worth individuals.
 
 
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HMRC has paid back £480m to taxpayers since the introduction of the pension freedoms (FT Adviser 31/07/19). To support you and your clients, FundsNetwork have created a practical guide where they explain how the tax on pension withdrawals is administered and outline the process for reclaiming any overpaid tax.
 
 
 
 
 
 
 
 
If we think of someone who is vulnerable, we generally conjure up the image of an elderly person, a child, or maybe someone with a disability.
 
 
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A selection of asset management industry experts will share their thoughts on opportunities to outperform and discuss strategies that aim to benefit your clients.
 
 
 
 
 
 
 
 
Later this month, protection challenger Guardian will launch a new combined life and critical illness cover to add to its stand-alone life and critical illness products.
 
 
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Wealth & money management awards
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Bento 1093: What stops you asking for referrals?
23 Oct 2019

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Many people I have spoken to tell me that referrals built their business. 

Satisfied customers telling others of their positive experience then recommending friends and family to benefit from the service they have experienced.

 
 
   
 
 
 
 
 
 
 
We don’t just put money into our houses. We pour our heart and soul into our homes. At Aviva, we understand that, with so much personality invested in every home, you need an equally personalised approach to releasing equity.
 
 
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If we suggested that diversity and inclusion (D&I) within a company improve its culture, performance and even national GDP, we think you would probably want to hear more.
 
 
 
 
 
 
 
 
What are the key business challenges facing advisory firms? And what does it take to run a profitable practice? From boosting productivity to hiring the right people, how can you help make your business a success? 
 
 
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Investing in Japanese companies with above average growth.

 
 
   
 
 
 
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Use Aegon’s Relevant Life calculator to see the potential tax savings that can be made using a relevant life policy compared to a non-relevant life policy.
 
 
 
 
 
 
 
 
A key feature of the longest equity bull market in history has been the inexorable rise of passive strategies, gathering significant assets under management at the expensive of active managers. However, can the cyclical nature of active and passive performance, combined with the rise in ESG demand restore the balance between the two?
 
 
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Bento 1092: Investment Insights Q4 2019
21 Oct 2019

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In our role as global investors we do still see reason for hope. For example, there are many American franchises that have stood the test of time, thanks to superior innovation and management skill. We explore the investment opportunities offered by the US tech sector even in the midst of a slowdown, as well as the risks to look out for.
 
 
   
 
 
 
 
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Support services available through protection plans can offer your clients something they might not expect and could help you build long-term trusting client relationships.
 
 
   
 
 
 
 
 
 
 
CIC Compare, our tool allowing advisers to easily compare new and historical critical illness policies in under five minutes, has been updated to include decreasing term critical illness.
 
 
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Traditionally, investing in companies operating in, or with some exposure to, emerging markets as often offered investors attractive returns – and an allocation to emerging markets adds useful equity diversification in a portfolio
 
 
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Read Aegon’s Tax-efficient protection planning for the small business to find out how packaging relevant life with an executive income protection policy can provide an attractive employee benefits package.
 
 
 
 
 
 
 
 
Well established small North London based IFA looking to retire in the medium term, now looking to bring in one or two financial advisers, with a view to handing over in due course.
 
 
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US President Donald Trump announced the US and China have agreed in principle to a trade accord. However, China has stopped short of calling this a “deal.
 
 
 
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Bento 1091: FCA Paper CP19/25 panel debate webinar
17 Oct 2019

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Register to join one of Prudential’s webinar sessions on Monday 21 October, to help you identify new opportunities with your clients.  During this debate Vince Smith – Hughes and Les Cameron of Prudential will be joined by experts from across the industry.
 
 
   
 
 
 
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Passwords are an obvious way to prevent unauthorised access, although they need to be strong, robust and ideally unique, to be effective. Staff should therefore be encouraged to take great care when setting security details. 
 
 
 
 
 
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Aegon’s Key person replacement service – supporting businesses when an owner or a key person is unable to work due to illness, injury or death.
 
 
   
 
 
 
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To further help you meet regulatory requirements, we have extended the capability of Engage, our end-to-end financial planning software, with the addition of in-depth MiFID II portfolio cost analysis functionality.
 
 
 
 
 
 
 
 
So despite abundant political and economic risks, this US expansion continues, leaving investors bemused in the face of lofty valuations as to how they should position portfolios.
 
 
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Gillian Hepburn, UK Intermediary Solutions Director, speaks to Portfolio Managers Steven Rooke and Emilie Shaw about the launch of the Cazenove Capital Sustainable Model Portfolios.
 
 
 
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Bento 1090: Man and machine: mapping risk better together
15 Oct 2019

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In Above-average companies, below-average prices, we walked through valuation and fundamental measures for the Global Equity Strategy, highlighting a few “clusters” of ideas. We believe that perspective is important. To assess a portfolio’s return prospects, looking at fundamental and valuation metrics is vital. But to assess a portfolio’s risk, another angle is also useful: how our holdings behave.
 
 
   
 
 
 
 
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Cities are becoming more important than countries, with their success determined by innovation, efficiency and the clustering of industries. What does this mean for investors?
 
 
   
 
 
 
 
 
 
 
Research from FundsNetwork shows that business management issues, such as training new staff and succession planning, are a key challenge for over one quarter of financial advisers. So, to help you in these areas, they’ve pulled together some practical hints and tips.
 
 
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Your 75th birthday is fixed when you’re born. But in the pensions world it’s changed a lot. 
 
 
 
 
 
 
 
 
As a part of our annual review of our Critical Illness Level Term Star Rating, we look at the market developments in the past 12 months.
 
 
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Providing customers with access to a range of confidential support and guidance services, at no additional cost, from the day their policy starts.
 
 
 
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