Mnemonics

Question 1

HALF PAST NINE

Use for: What to cover in review meetings

Answer 1

• Health
• Affordability
• Legislation changes
• Fund performance
• Portfolio rebalancing
• Altered personal circumstances
• State benefits rule changes
• Taxation rule changes
• Need for capital
• Income requirements
• New product introduction
• Extra money to invest

Question 2

RAPPORT RAKI

Use for: Benefits of using a financial adviser.

Answer 2

• Recommendations (tailored advice)
• Analysis (holistic view)
• Protection (insurance planning)
• Peace of mind
• Ongoing support & reviews
• Research of market options
• Tax planning
• Risks identified & managed
• Affordability considered
• Knowledge & expertise
• Identifying suitable products

Question 3

PASTE TWIG

Use for: Protection product checklist.

Answer 3

• Product type
• Assured (who is covered)
• Sum assured
• Term of policy
• Extras (CI cover, waiver of premium)
• Trusts
• Waiver of premium
• Indexation
• Guaranteed premiums

Question 4

PATHETIC WINE

Use for: Fact-finding and covering client objectives.

Answer 4

• Pension benefits
• Affordability
• Taxation
• Health
• Emergency fund
• Trusts
• ISAs & NS&I;
• Capacity for loss
• Wills
• Inheritance
• Nominations (beneficiaries)
• Ethical considerations