The present document can't read!
Please download to view
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.

Advisers and auto enrolment

by henry-tapper



Download: 0

Comment: 0





Download Advisers and auto enrolment


  • 1. Can advisers make money from auto-enrolment? Henry Tapper February 2015
  • 2. The known opportunity
  • 3. Competence declines
  • 4. Did anyone ever consider advice? DWP initial impact assessment June 2012 In 2014 , a typical budget for staging auto-enrolment was £1,500.(source First Actuarial) We anticipate that this will halve in 2016 and halve again in 2017
  • 5. What support do bosses want?
  • 6. When do they want it?
  • 7. Who do they want it from?
  • 8. IFAs supporting accountants?
  • 9. Or is payroll cleaning up? W
  • 10. Payroll the new experts? W
  • 11. Middleware model under strain Price crunch Sage and IRIS who dominate the SME and micro payroll market are able to drive down prices and destroy competition Packaged compliance services now available at £79 (+VAT) for implementation and £29pm ongoing. Risk management Employers concerned about data management PAPDIS – the common data standard
  • 12. Payroll is still fractured
  • 13. But likely to manage going forward
  • 14. Paying attention to the pension?
  • 15. The regulatory position
  • 16. Can advisers be providers?
  • 17. Conclusions Annuity models are risky (vertical integration and middleware) AE consultancy requires a high level of skill and knowledge IFAs •are not traditionally skilled at project management •will struggle to compete with payroll on data management •have no source of proprietary whole of market research Outsourcing to third parties (project management services) is increasingly popular. But does this leave the adviser with sufficient value? Is auto-enrolment best avoided or embraced?
  • Fly UP