IHT Planning

badger09

Something I’ve been considering for some time, not a knee jerk reaction. 

I’m 75 and with our existing financial set up, my Estate would be subject to IHT under current rules. Small SIPP would increase IHT from April 2027. 

Rather than possibly make things worse, I want to take professional advice. 

How do I find a suitably qualified (STEP?) IFA? I think there have been posts about how to narrow down searches for IFAs but can’t now find them. 

mybestattempt

badger09 said:

Something I’ve been considering for some time, not a knee jerk reaction. 

I’m 75 and with our existing financial set up, my Estate would be subject to IHT under current rules. Small SIPP would increase IHT from April 2027. 

Rather than possibly make things worse, I want to take professional advice. 

How do I find a suitably qualified (STEP?) IFA? I think there have been posts about how to narrow down searches for IFAs but can’t now find them. 

You may find this helpful:

https://www.step.org/about-step/public


However, @poseidon1 may be able to offer better and more specific advice.

poseidon1

I must confess I was unaware STEP had introduced an entry level certificate for financial services employees involved in  trust and estate planning, and conclude this likely  occured sometime after my retirement in 2015.

However,  trying to track down IFA firms with members holding that qualification  via the STEP directory gave rise to  slim pickings in the London area ( just 3 firms). Even then all their certificate holders were mere affiliate members who as far as  I could ascertain where on the first rung in terms of knowledge and experience.

I think for the OPs search parameters he would be best advised to seek IFAs with members holding the higher level Chartered Financial Planners qualification ( Diploma in financial Planning, RQF levels 4 &5).

The Chartered institute of which they are members is very long established, and from I have seen of the IHT and estate planning component of their exams, its at a pretty decent level of complexity.

Member firms can be sourced via the search engines of the Chartered Insurance Institute or the Personal Finance Society - links below

https://www.cii.co.uk/membership/join-us/chartered/chartered-firm-search/

https://www.thepfs.org/membership/find-an-adviser/