Do you receive third-party support for your research and due diligence?
With 66% of advisers believing their own research and due diligence processes will need to change in light of Consumer Duty1, now is the time to act.
The market for BR-qualifying services has traditionally been homogeneous, with planning success and good outcomes contingent upon investors surviving two years or having otherwise to pay for additional insurance cover (which could be as much as 13% of the capital invested). Does your third-party research and due diligence only focus on services like this?
Things have changed
Ingenious has launched a new Business Relief (BR)-qualifying service which provides peace of mind with IHT mitigation from day one of share allotment via insurance cover which is paid for by the Manager2. You no longer have to wait two years for BR qualification to become effective. Whilst your investors may not always feel they need IHT mitigation from day one, why take the risk? The financial consequences for their loved ones are significant. Better to be covered than not.
As a result, the risk of planning failure due to early death is now entirely avoidable, with no negative consequence. So firms will need to update their research and product panels to ensure this is considered as part of their suitability assessment.
Here are two considerations to be made when selecting BR solutions moving forwards;
1 Ingenious survey 2022
2 Age and health restrictions apply. Refer to brochure for limits.
To learn more about IEP Apex, and its additional care service, click below, and one of our team members will be in touch.
New Ingenious research has revealed that mitigating the effects of IHT, capital preservation and control over assets were listed as first, second and third, respectively, as the most important factors when advising on estate planning1. Indeed, IFAs cited that having confidence that any IHT would be fully mitigated was the most appealing factor when selecting a BR service. This was followed by factors such as the level of investment risk, level of investment return and costs.
A staggering 93% of advisers polled cited speed of IHT mitigation, as well as maintaining access to and control of client assets, as the primary motives for recommending BR-qualifying investments to their estate planning clients. The market for BR-qualifying services has traditionally been homogeneous with financial planning success contingent upon investors surviving two years unless an investor pays for additional insurance cover, which could be as much as 13% of the capital invested. Consumer Duty has brought about a renewed focus on good outcomes, however. As a result, IEP Apex is the only BR-qualifying service that fully mitigates the effects of IHT from day one of share allotment by incorporating complimentary IHT cover into the estate planning service as standard, paid for by the Manager instead of the investor.
Over half (55%) of IFAs believe the biggest challenge facing their business in the future is keeping up with regulatory changes such as Consumer Duty. The research also highlighted that in order to align with the new Consumer Duty rules, two in three (66%) IFAs believe their own research and due diligence processes will need to change to demonstrate how ‘good outcomes’ for retail clients will be achieved. When you couple that with the fact that three quarters (74%) of advisory firms surveyed use third party research firms to create BR panels of suitable investment managers1, this suggests that the way in which advisers work with third party research firms to create such panels also needs to change as part of a industry-wide reset to deliver good client outcomes.
1Research carried out online with 97 IFAs between 13th October – 27th October 2022
2Research carried out via online poll with 436 IFAs in June 2021
3Based on internal research
To learn more about IEP Apex, and its additional care service, click below, and one of our team members will be in touch.
● The Ingenious Group are a ‘One to Watch’ in the eighth annual Growth Investor Awards, organised by Intelligent Partnership
● The Ingenious Group recognised for outstanding achievements this year in the prestigious Best New Product or Service category sponsored by Mainspring Fund Services
● The gala dinner and awards ceremony was held last Thursday, 24 November at the London Hilton on Park Lane for 450 guests
● TV and radio star Claudia Winkleman hosted the evening, with a keynote address delivered by Mark England, OBE (Team GB’s Chef de Mission for the Paris Olympics 2024)
The 2022 Growth Investor Awards took place last Thursday, 24 November, with a gala dinner and awards ceremony to recognise the best of the growth investing community. The businesses and individuals, who were recognised, received their awards at the London Hilton, Park Lane, in front of 450 guests from across the alternative investments industry.
This year’s awards were hosted once again by TV and radio star Claudia Winkleman, alongside Intelligent Partnership’s founder Guy Tolhurst.
This year was the eighth Growth Investor Awards (GIA) organised by Intelligent Partnership. For almost a decade, GIA has celebrated those businesses and individuals within the financial services and alternative investment industries, who support the UK’s high-growth SMEs and Startups.
The Ingenious Group was recognised by our judges for their outstanding contribution, as our ‘One to Watch’ in the prestigious Best New Product or Service category sponsored by Mainspring Fund Services.
Despite the challenging economic backdrop, the guidance, support, and returns they’ve delivered for their clients, and the businesses they work with, has been so impressive this year.
For further information, please visit growthinvestorawards.com
With the new Consumer Duty rules focusing minds on outcomes, fair value, and avoiding foreseeable harm, we are seeing advisers seeking solutions aligned with these values and, in particular, IEP Apex and the unique benefits it offers investors.
So what is it that makes Apex so attractive?
Advisers have told us that mitigating the effects of IHT is their top-ranked factor when advising on estate planning2, and that speed of IHT mitigation is the primary motive for recommending BR-qualifying investments3. So, new services that remove the risk of planning failure in the first two years are a game-changer, especially when it is achieved without additional costs to investors.
That’s why we’re seeing advisors turning away from high cost, low value business relief services in favour of services that mitigate IHT risk from day one of share allotment.
If Consumer duty and delivering good outcomes for customers is a priority for your and our firm, isn’t it time you turned to Apex?
1Tax Efficient Review, June 2021
2 Ingenious survey 2022
3 PFS/Ingenious 6 Golden Rules webinar live poll 2021
To learn more about IEP Apex, and its additional care service, click below, and one of our team members will be in touch.
With the first FCA Consumer Duty deadline in October, there has never been a better time to ensure you’re matching the right products to your clients’ needs.
When it comes to business relief and ensuring complete IHT mitigation, IEP Apex is a Business Relief (BR)-qualifying service that includes complimentary IHT cover for the initial 2-year qualifying period paid for by the Manager. That means no additional cost to investors, or impact on returns, as well as removing risks associated with IHT qualifying periods.
How IEP Apex aligns with the new Consumer Duty
The new Consumer Duty requires firms to ‘act to deliver good outcomes for retail customers’. IEP Apex is designed to align with the Consumer Duty requirements by:
Delivering good outcomes
By removing risks associated with IHT qualifying periods.
Avoiding foreseeable harm
The risk of IHT planning failing as a consequence of early death is now avoidable, without an impact on returns from fee-based life insurance add-ons.
Demonstrating outcomes
Effective estate planning relies on mitigating the effects of IHT. IEP Apex enables advisers to demonstrate how this can be achieved.
Price and value
IEP Apex offer a comprehensive solution at what we believe to be some of the lowest fees in the market. Considering its unique utility, it’s arguably a great example of fair value.
To learn more about IEP Apex, and its additional care service, click below, and one of our team members will be in touch.
Ingenious Media is proud to announce that 4 British films produced by investee companies managed by Ingenious have received British Independent Film Award nominations.
Emily
Best Lead Performance: Emma Mackey
Best Supporting Performance: Fionn Whitehead
Best Ensemble Performance: Ensemble including Amelia Gething, Emma Mackey, Oliver Jackson-Cohen, Fionn Whitehead, Alexandra Dowling, Gemma Jones, Adrian Dunbar
The Douglas Hickox Award (Best Debut Director) sponsored by BBC Film: Frances O’Connor
The Lost King
Best Lead Performance: Sally Hawkins
Elizabeth: A Portrait in Parts
Best Editing: Joanna Crickmay
The Phantom of the Open
Best Music Supervision: Phil Canning
Well done to all nominees.
Did you know the market for Inheritance Tax “IHT” planning solutions has changed?
New Business Relief (BR)-qualifying services are more effective at mitigating the effects of IHT. This means firms need to update their research and product panels to avoid taking risks that are now avoidable.
As you likely know, the market for BR-qualifying services has traditionally been homogeneous, with planning success contingent upon investors surviving two years or paying for additional insurance cover, which could be as much as 13% of the capital invested. That was then, but now things have changed with the launch of IEP Apex. This new BR-qualifying service fully mitigates the effects of IHT by incorporating complimentary IHT cover for the initial 2-year qualifying period, paid for by the Manager.
Does your research and due diligence focus on what matters the most?
In light of the new Consumer Duty rules and the renewed focus on good outcomes, research and due diligence should also focus on outcomes first. Here are three considerations to be made when selecting BR solutions moving forwards;
If the client is looking to fully mitigate the effects of IHT, will the solution achieve that in all cases?
If a solution is contingent on the client surviving two years, how can you demonstrate that you have avoided foreseeable harm?
Would you be able to demonstrate that the third-party review service you use have considered all of market, as currently not all of them do?
London, UK – Ingenious today announces that Ingenious Real Estate Finance has completed a £26m loan financing deal to support the development of a mixed-use scheme consisting of 88 apartments, commercial space and a gym at the former Boleyn Cinema site in East Ham, London.
This deal was introduced by broker Daniel Sovitch at Life Financial Solutions.
The development will consist of 88 1, 2 and 3-bed residential units along with commercial units and a gym.
The site is located next to West Ham’s former football stadium, Upton Park.
The new build element of the scheme will be a 5-8 storey building comprising four blocks around a communal courtyard with additional roof gardens. Each flat will have a balcony or terrace.
This is one of a number of recent new transactions Ingenious Real Estate has closed. Including two loans for £26m in support of the development of 55 new-build family homes in Somerset and Devon; a Bridging loan against an asset in Battersea, South West London and our first Industrial development facility to fund the construction of 48 industrial units near Poole.
These new transactions demonstrate Ingenious’ support for residential and commercial real estate development and projects across the UK.
Ingenious today announces that Ingenious Real Estate Finance has completed a bridging loan deal with Cole Waterhouse to support its development of a key site in Digbeth, Birmingham, paving the way for the creation of Upper Trinity Street (UTS), a £260 million mixed-use scheme which will deliver 943 homes and a new public park for the city.
Ingenious Real Estate entered into an agreement with Cole Waterhouse to agree a bridging loan over 24 months to acquire the land from multiple private owners, with Auxillium Real Estate acting as the debt broker.
The purchase comes after Birmingham City Council granted planning permission in July 2021 for the transformation of the industrial land into a cultural, commercial and residential scheme. It will include the creation of Pump House Park which will sit alongside the canal and the historic lock keeper’s cottage which will be retained.
Last year, Cole Waterhouse signed the first tenants at UTS including the world’s first Museum of Youth Culture, Birmingham Music Archive and Digbeth’s Pat Benson Boxing Academy which together will occupy over 15,000 sq. ft. of space. Designed by Corstorphine & Wright, UTS will deliver a blend of rentable and open market sale homes, some with live-work space and roof gardens, a 133-bedroom hotel, 60,000 sq. ft. of flexible commercial space, car parking and large new areas of public realm across a network of landscaped yards, squares and hidden spaces.
The development of UTS is expected to create 600 jobs during the construction phase, deliver £229.5 million Gross value add (GVA) to the local economy and will create up to 313 additional jobs once built. Phase one will see the development of a portion of the residential element of the scheme comprising build-to-rent housing.
Ingenious Real Estate continues to secure deals with, amongst others, loans totalling £26 million to support the development of 55 new-build family homes in Somerset and Devon; an industrial loan in Battersea, South West London for planning for a modern 8-unit warehouse & logistics scheme spanning over 30,000 square feet; a development facility to fund 48 industrial units at Magna Park near Poole; and a bridging finance deal in Felixstowe for 19 two, three and four bed houses.
Ingenious believes that the successful loan agreements represent the continued demand for residential real estate development across the UK, despite initial concerns around delays to construction as a result of COVID-19.
Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 18-30 months, and the team has since completed more than £600 million worth of transactions. The current portfolio balance is weighted towards residential, with the majority of Ingenious developments qualifying for Help to Buy.
It’s been another hugely competitive field of entries for this year’s Growth Investor Awards, hosted by Intelligent Partnership. With the standard so high, it’s exciting that The Ingenious Group has secured a spot as one of the finalists for both ‘Industry Game Changer’ sponsored by MICAP and ‘Best New Product or Service’ sponsored by Mainspring.
Now in its eighth year, the Growth Investor Awards is a key event in the investment industry calendar. The awards celebrate the companies and individuals who go above and beyond to support the UK’s growing businesses, and in doing so create jobs, boost economic growth, and support innovation.
About the awards
The ‘Best New Product or Service’ award sponsored by Mainspring celebrates growth investment providers that have introduced innovative new products or services to the market since 6th April 2020. The judges will assess the overall impact of the innovation based on its effect on funding volumes, value for investee companies, challenges overcome, customer feedback, and business impact. To get to the final itself is an achievement, and the Ingenious Group will compete for the top award alongside two other impressive finalists:
The ‘Industry Game Changer’ award sponsored by MICAP celebrates any outstanding individual, company, product or platform provider that has demonstrably changed practice, perception or engagement in the tax-efficient investment industry.
The Ingenious Group will compete for the award alongside four other finalists:
The Growth Investor Awards 2022
Reflecting how far the industry has come in recent years, the Growth Investor Awards are bigger than ever this year. With 28 categories and more than 80 opportunities to win an accolade. The awards will be celebrated with a gala dinner at the prestigious London Hilton Park Lane on the evening of November 24th.
Award submissions will now move to a second round of judging from an independent panel of judges. All scores are collated to determine the winner and runners-up, with all finalists receiving a tailored feedback and benchmarking report offering expert insight about areas for improvement.
For further information, please visit growthinvestorawards.com