Join us on Tuesday 3rd November for this 2-hour session with Jas Nattrass (Events and Partnerships Lead, Verve), Warwick Bloore (Senior Specialist, Advisory Research Centre, Vanguard), an expert from PIMCO and Neil Jones (Senior Technical Engagement Manager, Standard Life).

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Vanguard: Decumulation - the nastiest, hardest problem in finance

Economist William Sharpe described decumulation as the “nastiest, hardest problem in finance”. Vanguard will explore decumulation, digging into its complexity, as well as strategies that advisers have to operate in this space. Warwick will focus on “bucketing” in particular, while also looking at spending approaches and secure income.

Learning Objectives:

• Explain the regulatory context as well as the specific factors and challenges in tackling decumulation for advised clients
• Understand what is meant by a “bucketing” approach as well as some of the associated pros and cons
• Explain other available strategies used by advisers in helping their clients through decumulation

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PIMCO: Multi-asset investing - thoughtful blending

PIMCO explores the complexities of blending investment strategies within multi-asset portfolios, offering a fresh perspective on the active versus passive debate. While much of that debate focuses on equities, the session considers why fixed income should be assessed differently and where active management may add value when constructing diversified portfolios.

Participants will examine the potential benefits of active fixed income, including the flexibility to navigate market inefficiencies, changing interest-rate environments and different sources of risk. The session will also consider systematic equities as a disciplined, rules-based approach to equity investing and how combining systematic equities with active fixed income may bring together differentiated return drivers within a multi-asset portfolio.

Alongside these implementation considerations, PIMCO will provide a broader economic and market perspective, helping attendees consider current valuations and the implications for portfolio construction. The aim is to give advisers a clearer framework for assessing active and passive approaches, evaluating multi-asset funds and model portfolio solutions, and deciding where different investment styles may be most appropriate for their clients.

Ultimately, the session will explore how thoughtful blending of active fixed income and systematic equities can support diversification and potentially contribute to more robust investment outcomes across changing market environments.

Learning Objectives:

• Identify important factors when combining active and passive approaches in multi-asset portfolios, paying particular attention to the benefits of active fixed income
• Assess whether systematic equities are suitable for inclusion in your client’s portfolio
• Gain insight into the broader economic outlook and current market valuations

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Standard Life: Investment bonds - the works and suitability

Neil Jones from Standard Life leads a session on exploring how investment bonds work and the factors that influence their suitability for clients. Through worked examples, they'll examine the differences between onshore and offshore bonds, how taxation applies to the underlying investments and policyholders, and why the timing of withdrawals matters.

This session will cover:

• The 5% tax-deferred withdrawal allowance and chargeable events
• Top slicing relief and time apportionment relief
• Assignments, gifting and estate planning considerations
• How a client’s investment horizon and tax position can influence investment decisions

Learning Objectives:

• Understand the structure of investment bonds and the difference between onshore and offshore
• Explain the taxes applying to the underlying investments
• Recognise the taxes applying to an investor and when these may arise
• Assess the advantages and disadvantages for investors using investment bonds to hold a portfolio