Platforms Wealth Management and Service Providers – Quiz 02

Last Updated: June 2024

Table of Contents

CISI – Platforms, Wealth Management and Service Providers Quiz 2 is Covered :-
understand why insured funds differ from regulated collective investment schemes
know the difference between hard and soft closure
know the difference between deferred and queued redemptions
understand the implications for the platform and the client of fund dealing being restricted or suspended
understand why the investment range may vary between platform operators
Platform Wrappers
Overview of Wrappers On completion, the candidate should:
know the range of typical wrappers available: • general investment accounts • protection policies • investment bonds – onshore, offshore • ISAs
• Pensions
know the regulatory limitations and restrictions associated with these wrappers • contribution limits • restrictions around withdrawals • restrictions around investment eligibility • restrictions around client eligibility • ISA Guidance Notes – Applications & Transfers, Subscriptions, Investment activity, Reporting, Void & Repair • pension regulations – HMRC Pension Tax Manual: (Allowances, Tax reclaim, Investor documentation, Member benefits, Death benefits)
know the advantages these wrappers provide: • tax treatment of contributions / withdrawals • tax treatment of investments held / income applied within these wrappers • pension drawdown

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