DB transfers and critical yields are set to be one of the hot topics in Paraplanning for 2017.

That was according to Paraplanners Andy Marshall and Lewys Richards DipPFS, who ran the first ever Powwow for Paraplanners in South Wales and the west of England.

Mr Marshall, a Paraplanner at Ovation Finance, said: “Although we didn’t discuss it at great length, DB transfers and critical yields are a hot topic at the moment and will feature in more Paraplanner discussions over the next year. “

He said: “Pension freedoms have caused an industry wide rethink on the transfer of safeguarded benefits and the processes required to transact them.”

Fifteen Paraplanners attended the Powwow on 17 November at Gloucestershire County Cricket Club’s Bristol HQ. It was the newest in a series of mini Powwows across the country.

The main subjects for debate included a session led by Mr Marshall on professional development incorporating CPD, training, exams, studying and keeping up to date.

Mr Richards headed a group discussion on day to day Paraplanning, report writing and top tips.

There was also a session looking at DB transfers, insistent clients, critical yields, SelectaPension v O&M, risk profiling, capacity v tolerance, Paraplanning as a career and finding out about events, things that are going on, and technical updates.

Mr Marshall said: “I thoroughly enjoyed it. I would happily be involved in more Powwows both locally and nationally in the future.

“That said, the whole premise of the powwow movement is Paraplanners doing it for themselves so it is not just down to me to organise them, others are welcome to put their hands up and do it too. I will always be happy to muck in and help if required.”

Mr Richards said: “I would gladly organise another event in the future, but if other Paraplanners step forward wanting to host, I’d be happy to let them have a go. I will continue to attend any future Powwows in the region.”