AJ Bell, in partnership with Technical Connection and Ad Lucem, has launched what it is calling its ‘Great Wrapper Reset’ campaign which will visit 10 locations starting in Edinburgh from today.
The firm said the campaign has been launched because nine-in-ten advisers reckon wrapper decisions have become more complex.
AJ Bell said the last three years have seen various reductions to tax-free allowances and increases to different tax rates.
That means evidencing each decision, and reasons why an alternative route was not chosen, are more time consuming. The firm’s research showed that 85% of advisers and 83% Paraplanners agreed that evidencing requires more effort
AJ Bell said advisers and paraplanners are routinely navigating these decisions to great effect but the rise in complexity is impacting confidence in some cases, with only a third (34%) reported feeling confident in the outcome.
Lisa Webster, AJ Bell senior technical consultant, said: “We know advisers and paraplanners do not always have the time or resources to comprehensively document the entire wrapper decision process, which is why we have developed a Great Wrapper Reset framework and practical tips to help with this.
“Alongside the expertise on our technical team that advisers and paraplanners can tap into, and our genuinely wrapper agnostic proposition, we hope to ensure that advisers can save valuable time and confidently continue to provide peace of mind to clients in the current tax environment.”
The event moves to Glasgow on Monday afternoon before heading to Manchester and Leeds on 8 September and Birmingham on 9 September.
Next week it heads to Kendal on 15 September, Bolton on 16 September and Brighton on 17 September. The following week it hits Brighton on 21 September before finishing in London on 22 September.
Phillip Wickenden, Ad Lucem founder and CEO, said: “The picture that emerged from the research should encourage the whole profession: capability is running ahead of confidence. Advisers aren’t asking to be taught – they’re asking for better decision architecture.
“That means prompts that test familiar assumptions, modelling that compares realistic alternatives, and wording that captures reasoning they’re already applying. Almost four in five said they would use a wrapper decision framework if one existed.
“That’s as clear a mandate as research ever produces, and it’s exactly what this campaign delivers.”
• Research was based on a sample of 350 financial advisers and 150 Paraplanners from the UK, carried out online in May.
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