Financial advisers who get intergenerational planning right will deliver exceptional value for clients and protect their business over the coming years.

Thanks to the remarkable wealth built up by the Baby Boomer generation, an enormous quantity of wealth is passing to spouses and the next generation.

In fact, the Kings Court Trust estimates £5.5trn will pass between generations within the next 30 years.

This unique situation, which commentators have dubbed the Great Wealth Transfer, is an enormous opportunity for advisers. However, our research suggests 69% of advisers don’t have a plan in place to tackle the it.

Missed opportunity

While around three quarters (71%) of advisers feel they have a sufficient approach to meet client needs across a range of life stages, those we surveyed were only dealing with more than one generation of the family for 16% of their clients.

And just over half of investors surveyed (52%) said their adviser hadn’t engaged with the beneficiaries of their estate.

It is estimated £5.5trn will pass between generations within the next 30 years

This suggests openings are being missed to build relationships with a client’s wider family ahead of wealth transferring. Doing so not only helps to ensure the planning you put in place works for the beneficiaries when a client dies, but it’s more likely you will retain assets as they pass on.

Advisers stand to win if they can increase engagement with a client’s beneficiaries, as 58% of investors think their beneficiaries would use their adviser and 79% said they’d recommend their adviser to loved ones.

So, what could be preventing more engagement with the next generation?

Perception versus reality

There seems to be a gap between some advisers’ perception of the intergenerational opportunity and the reality of it.

The advisers surveyed cited the most likely reason behind not retaining the assets of a deceased client’s estate is that the beneficiaries would want to spend their inheritance (68%). This would logically cause an adviser to deprioritise working with their clients’ beneficiaries. However, 79% of investors surveyed felt that, should they inherit, beneficiaries would likely invest the money.

This underscores a common misconception among the advice community – that there is insufficient opportunity to advise a client’s beneficiaries when they inherit. The reality is, there is plenty of opportunity and a strong intergenerational strategy is likely to pay dividends.

Only 37% of advisers surveyed felt they had a clear proposition for those under 30

There’s also a clear generational divide that could be creating friction between advisers and clients’ beneficiaries.

Over half (54%) of investors surveyed feel advisers should have different fees and marketing for different generations. This increased to 73% when the question was asked to the 18-34 age group.

Meanwhile, only 37% of advisers surveyed felt they had a clear proposition for those under 30. And only 22% felt they should have different fee structures or marketing strategies for different generations.

There might be opportunities in your business to appeal to younger generations, educate them on the value of advice and help them engage with their finances.

Use IHT planning 

You don’t want the first time you meet your client’s beneficiaries to be when your client has passed away. It might suit your client for you to start building the relationship with their beneficiaries now.

A natural and good opportunity to do this is as part of inheritance tax (IHT) planning – after all, this is planning put in place for the ultimate benefit of the beneficiaries.

You can help the next generation prepare for their inheritance and to understand the planning that’s in place. The more engaged they are now, the less likely challenges are to arise after the death of the client, and the more likely beneficiaries are to seek your advice when they inherit.

These beneficiaries may well be executors too, which is a challenging role most will only do once or twice in their life

Moreover, these beneficiaries may well be executors too, which is a challenging role most will only do once or twice in their life.

They are not always well prepared for this role as they don’t know what to expect, particularly around how time consuming the process may be. It means there is an administrative burden alongside the emotional one. This burden is something advisers can help relieve by having these conversations early, to make sure executors understand what is asked of them ahead of time and ensure the range of executorship options, including professional ones, is understood

A strong plan to address the threat and opportunity of wealth transfer, now more than ever, is going to be critical to bolstering the value of your business. Estate planning is a natural opportunity to deliver great outcomes for clients and unlock the chance to work with the next generation.

Jess Franks is head of investment products at Octopus Investments

COMPETITION for affordable concert tickets has been fiercer than ever this year.

Last month Oasis made headlines when they announced their reunion tour – for all the wrong reasons.

2

Dynamic ticket prices and lengthy online queues frustrated fans and highlighted problems in the ticket industry.

Coldplay and Sam Fender have also announced big UK tours in recent weeks, leaving concertgoers scrambling for tickets.

Meanwhile, earlier this year fans paid up to £540 to see American songstress Taylor Swift on her hugely popular Eras Tour.

Although most of us are unable to splash that kind of cash on a concert, there are still ways to bag the hottest ticket in town.

Today consumer expert Martyn James explains the best ways to get cheap tickets.

Sign up to fan sites

Martyn said there is no way to guarantee cheap tickets but there are a few options if you can hold your nerve. 

One option is to sign up to fan sites, he recommends.

“This won’t get you cheap tickets generally, unless the band isn’t well known,” he said.

“But you will get priority booking and potentially better tickets.”

Some artists will also release tickets early to fans who have bought their CDs and vinyls.

2

For example, Taylor Swift’s label pre-sale was only open to fans who had pre-ordered a copy of her album Midnights between Monday 29 August, 2022 and Thursday 27 October, 2022.

These fans were given priority access to her concert ticket sale.

Meanwhile, Jorja Smith fans could get their hands on tickets to see the singer at Ronnie Scott’s Jazz Club in London if they pre-ordered her album “Falling or Flying” on vinyl.

Look for unfilled seats

Some artists book big venues or add extra dates to their tour if their first release of tickets have sold well.

But after doing this they sometimes find that they can’t fill them fully.

“A number of big ticket artists this summer offered reduced prices to fill these seats – often considerably less,” Martyn said.

“Keep an eye on the ticket agencies and ‘last minute’ ticket sites for offers.”

Seattle grunge band Pearl Jam were forced to slash the price of tickets to their Dark Matter World Tour by more than 50% in June.

Premium standing tickets were initially £249.45 but tickets were later available through re-sale for £155.25.

Seventies pop legend Leo Sayer was also forced to halve the price of tickets to his London Palladium show this year.

Some tickets were available for just £20 plus a £4 booking fee.

Meanwhile, a festival which indie rock band Kaiser Chiefs were headlining slashed its ticket prices by half.

The band performed on July 27 at the annual festival in Seaton Reach in Hartlepool.

Grab mates rates

You cannot resell tickets for profit other than to the box office that you bought them from, but there are other ways to work the system, suggests Martyn.

“You are allowed to gift tickets to mates if you can’t go to a concert, so if you know someone who can’t attend then you could get a cut price deal.”

If you are going to go down this route beware, Martyn warns.

Resale tickets are often used by scammers to con fans.

“This is the single most common way people get stiffed by strangers selling tickets,” he said.

“Only give money to ticket holders who you know and trust. Taylor Swift fans alone lost zillions through this scam.”

Join a loyalty scheme

Some credit cards and loyalty programmes come with a range of exclusive offers which are only available to members.

These can include pre-sale access to popular concerts, VIP experiences or discounted ticket prices.

For example, American Express card members can get exclusive access to club seats and terrace suites at the Ovo Arena Wembley.

Prices start at £150 but could end up being cheaper than buying tickets during official sales.

Meanwhile, O2 customers can get access to priority tickets for gigs including Sam Fender and Busted vs McFly.

Make sure you enable notifications from the programmes you join and subscribe to newsletters to avoid missing out.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

WHEN you think of Wetherspoons, you think of cheap pints and budget meals.

But one of the pubs in the UK lets you watch a huge live performance once year.

5

5

Advertisement

5

The Opera House, in Tunbridge Wells, was built in 1902, before being converted to a cinema in 1931 and a bingo hall in the 70s.

Many of the original features have been kept, including the grand chandeliers and booths, as well as the stage.

Guests can even choose tables that are right on the stage, surrounded by the opera boxes.

And once a year, it remembers its roots with a live opera show inside.

Next year, the show will be conducted by The Merry Opera Company, performing Die Fledermaus.

Taking place on February 16 at both 2pm and 7:30pm, the tickets go on sale on December 1.

Don’t worry about dressing up – the website says: “You don’t need to pay a fortune or wear formal evening dress to see operas like this”.

Having started performing in 2007, they’ve since welcomed 67,000 guests to watch.

If you can’t make it to watch the show, the pub is still worth a visit.

Punters have raved about the Wetherspoons, with many being “blown away”.

One person said: “This place is awesome, you can see the richness and the workmanship of hundreds of years. This is a must see place.”

Another said it was “possibly the best looking Wetherspoons,” although compared it to the Winter Gardens in Harrogate, another pretty pub.

Or you can choose the pub as a cheap option for a pre-show meal too, being near the Assembly Halls Theatre.

Wetherspoons superfan John Hunt, who has been to 900 of the chains, even said the Opera House was one of his favourites.

5

Advertisement

When asked, he said: “The opera house one, they still had opera once a year in there.”.

We’ve visited some other amazing Wetherspoons around the UK as well.

Folkestone’s Samuel Peto is near the beach, and in a former church.

Or you can go to Victoria Pavilion in Ramsgate, the world’ biggest Wetherspoons.

Other beautiful Wetherspoons in the UK

The Corn Exchange, Bury St Edmunds

The Velvet Coaster, Blackpool

The Caley Picture House, Edinburgh

The Palladium, Llandudno

Advertisement

The Counting House, Glasgow

Hamilton Hall, London

And a new Wetherspoons hotel is even opening with the UK’s biggest beer garden and 26 bedrooms.

We’ve even rounded up the 10 most beautiful Wetherspoons in the country.

5

By Louise Rochford: October 20, 2024

‘That Christmas’ Review: A Potential Holiday Classic from Netflix

In the spirit of the season, Netflix’s That Christmas emerges as a delightful animated feature poised to carve its niche among holiday classics. This charming film, penned by the beloved Richard Curtis and directed by Simon Otto in his feature debut, takes audiences on a whimsical journey through the quaint seaside town of Wellington-on-Sea. Voiced by the illustrious Brian Cox, Santa finds himself battling treacherous winter weather on Christmas Eve, navigating the stormy skies while racing against the clock to deliver gifts to eager children.

A Familiar Dilemma

The film opens with Santa facing a familiar yet daunting dilemma: a fierce winter storm threatens to derail his plans. With only one reindeer, voiced by Guz Khan, to pull the sleigh, tensions rise between them—so much so that Santa jokingly considers trading in his sleigh for a self-driving vehicle next year. The stakes are high, and as Santa pushes through snow and strong winds, he must rely on his determination and the spirit of the season to fulfill his mission. Despite these comedic setbacks, Santa’s ultimate goal remains clear: to bring joy to children around the world, especially those in his fictional English coastal town.

A Joyous Celebration of Community

That Christmas premiered at the BFI London Film Festival, and it’s clear that this animation from Locksmith Animation (known for Ron’s Gone Wrong) is destined to become a holiday favorite. Unlike many holiday films that can veer into overly saccharine territory, this story gracefully sidesteps cliché by grounding its whimsical narrative in authentic and relatable emotions.

Otto, renowned for his work on How to Train Your Dragon, adeptly balances playful self-awareness with the required suspension of disbelief inherent in holiday tales. The film manages to evoke the heartwarming charm that Curtis is known for while introducing a fresh animated style. The narrative is rooted in the interconnected lives of its characters, with Santa guiding us through Wellington-on-Sea, a close-knit community where the magic of Christmas unfolds.

The film introduces a diverse array of characters, each adding their own flavor to the holiday spirit. A group of local children, led by the bold 15-year-old Bernadette (India Brown), embarks on a progressive rendition of the traditional Three Kings play, dubbed Three Wise Women. Their imaginative production swaps traditional shepherds for organic vegetable farmers, creating a vibrant tapestry of creativity and joy. The performance becomes a metaphor for the changing times, emphasizing sustainability and community involvement.

At the heart of the story is Danny (Jack Wisniewski), the new kid in town, who finds himself navigating the complexities of childhood friendships and the emotional turmoil of his parents’ divorce. His growing bond with the grumpy yet endearing teacher Ms. Trapper (Fiona Shaw) adds depth to the narrative, showcasing the importance of connection during the holiday season. As Danny struggles with feelings of loneliness and the hope of rekindling a relationship with his estranged father, viewers are invited to reflect on their own familial connections and the importance of community.

Meanwhile, Danny’s crush on the anxious Sam (Zazie Hayhurst) brings a lighthearted, relatable layer to the film, highlighting the ups and downs of young love. Their tentative relationship mirrors the awkwardness of adolescence, with all its hopes and fears, as they navigate school life together.

Comedic Chaos and Emotional Depth

The McNutt family, portrayed by Lolly Adefope and Rhys Darby, injects a sense of comedic chaos as they prepare for the holiday alongside their amusing friends. The plot thickens when Bernadette’s parents leave town for a wedding, leaving their children to fend for themselves amid a snowstorm. This decision spirals into a series of comedic mishaps, culminating in a desperate struggle to return home before Christmas day.

As the parents scramble to find a way back to their families, the film explores themes of sacrifice and the lengths to which people will go for their loved ones. The children, meanwhile, must navigate their own challenges, leading to moments of unexpected bravery and friendship. The McNutts’ quirky antics add a layer of humor, keeping the tone light while still addressing deeper emotional currents.

Throughout its 91-minute runtime, That Christmas skillfully weaves together multiple storylines, ensuring each character receives the attention they deserve. The attention to detail—from the lighthouse keeper’s daily town bulletin updates to the friendly rivalries among residents—creates an immersive experience that breathes life into this fictional village.

A Heartwarming Adventure

What sets That Christmas apart from typical holiday fare is its dedication to portraying the complexities of community life. The film doesn’t shy away from the challenges faced by its characters; rather, it embraces them, presenting a narrative that feels genuine and relatable. The characters’ struggles with love, family, and personal growth resonate with viewers of all ages, offering lessons about resilience and the true meaning of Christmas.

With its rich storytelling, charming animation, and a talented voice cast, the film is set to become a holiday staple for families and fans of all ages. Brian Cox’s Santa, alongside a colorful ensemble, delivers a heartfelt narrative that resonates with the warmth and spirit of Christmas. It reminds us that the holidays are not just about presents but about the connections we make and the love we share with one another.

Full Credits

Venue: BFI London Film Festival (Gala)
Distributor: Netflix
Production Companies: Double Negative, Locksmith Animation
Cast: Brian Cox, Fiona Shaw, Jodie Whittaker, Bill Nighy, Rhys Darby
Director: Simon Otto
Screenwriters: Richard Curtis, Peter Souter
Producers: Nicole P. Hearon, p.g.a, Adam Tandy, p.g.a
Executive Producers: Mary Coleman, Natalie Fischer, Julie Lockhart, Elisabeth Murdoch, Bonnie Arnold, Lara Breay, Sarah Smith, Rebecca Cobb, Richard Curtis, Colin Hopkins
Production Designer: Justin Hutchinson-Chatburn
Editor: Sim Evan-Jones, ACE
Music: John Powell
Rated: PG
Runtime: 1 hour 31 minutes.

With its rich tapestry of characters and heartfelt storytelling, That Christmas is bound to become a cherished addition to holiday movie nights, reminding audiences of the joy, laughter, and love that define the season.

Finance Monthly Star Rating: 8/10