8 September 23

The adviser benefit of using client planning scenarios

Although every one of your clients is unique, chances are that the financial challenges and problems they face over their lifetime will not be. That’s why Triple Point has created a range of client planning scenarios which can help you find opportunities to grow your business as well as solve client problems.

What are client planning scenarios?

A client planning scenario places an imaginary client into a set of specific circumstances, or challenges, that require financial planning advice, and then offers a step-by-step practical solution.  These scenarios usually include the following client information:

  • General information: such as their age, marital status, number of dependents and their employment status.
  • Financial goals and objectives: where relevant, the scenario will outline the client’s financial situation and whether the client has any specific issues they need the adviser to help solve
  • Hypothetical problem: the scenario will usually set out a particular issue faced by the client, such as an inheritance tax or income liability, or tax due from selling a business.
  • Other relevant information: such as risk tolerance, investment preferences, or any other important information the adviser needs to know.

While the situations – and the clients – depicted in the scenarios are imaginary, they are derived from many years of real-life experience of working with financial advisers and their clients, and draw upon successfully implemented tax-efficient solutions.

As a result, our client planning scenarios should resonate with a significant proportion of your client bank. They feature clients such as business owners, landlords, clients approaching or already in retirement, or who need advice on specific tax-related issues including inheritance tax, income tax, capital gains tax or Business Relief.

Presenting a workable solution

Once the hypothetical client’s ‘challenge’ has been identified, the client planning scenario will then talk through a potential solution, step-by-step. The solution will often feature a graphic that explains in full detail the financial advantages of using a tax-efficient investment, as well as any hypothetical tax savings made.

Using client scenarios with your client bank

Using different planning scenarios can help you to gain an even better understanding of the needs of your clients. They can help you to cater to a more diverse client base, and to be more proactive with clients, by identifying issues they may not yet be aware of. And importantly, with the new Consumer Duty rules now in force, financial firms need to show they “act to deliver good outcomes for retail customers”. We believe scenarios are a helpful tool that can be used by advisers to encourage better conversations with clients and help demonstrate they are acting in their best interests.

At Triple Point, we offer a range of tax-efficient investment strategies designed to help solve people’s problems. So, whether your clients are looking to grow their wealth, reduce their tax liability, or to leave a legacy, we have the knowledge to help them achieve their goals.

See our planning scenarios.

If you have a specific financial planning issue that you would like us to address through a client planning scenario, please get in touch at contact@triplepoint.co.uk.

 Important information

This financial promotion has been issued by Triple Point Administration LLP which is authorised and regulated by the Financial Conduct Authority no. 618187. All individual circumstances of a client may be different so planning scenarios do not constitute as advice. Tax treatment depends on the individual circumstances of the investor and is subject to change.