MLP update: From TV appearances to sponsoring a school fayre and meeting a celebrity, it’s been an eventful month for the team!
Welcome to the June edition of your behind-the-scenes MLP team update.
From TV appearances to sponsoring a school fayre and meeting a celebrity, the team has been as busy as ever!
Read on to catch up on all the latest updates.
Sean in the spotlight
Sean has been back on the airwaves this month, sharing his financial planning insights, business lessons, and plans for MLP’s future.
First up, he sat down with Lee Robertson on Asset TV to discuss why there’s never been a better time to work in financial planning.
The conversation covered the importance of personal branding, Sean’s route into the profession, and the lessons he’s learned the hard way over the past 11 years (so others don’t have to).
Whether you’re already in the profession, thinking about joining it, interested in business, or building your own brand, this will be well worth a watch. We’ll share the link as soon as it’s released.
Sean also joined Isabel Baxter on Professional Adviser TV for a discussion about buying and growing a business. Topics included:
How a business deal is structured
The financial and emotional challenges that come with it
How Sean and Paul divide responsibilities as brothers and co-owners
What they chose to preserve, what they changed, and how they went about improving the business
What Sean would do differently if acquiring a business again
How MLP is positioned for the future
Keep an eye out for the Asset TV interview, and in the meantime, you can listen to the Professional Adviser podcast here.
Case study – we saved a client £190,000!
One of the most rewarding parts of what we do is helping clients solve problems they didn’t even realise they had.
We recently worked with a client who was facing a significant Inheritance Tax (IHT) liability but didn’t have a clear understanding of how much tax would be due or what options were available to reduce it.
The first step was to establish the client’s position in detail, including:
Her £325,000 nil-rate band
The transferable nil-rate band from her late husband
Both her and her late husband’s £175,000 residence nil-rate bands
The current value of the estate
The taxable portion of the estate after allowances
The potential IHT liability at 40%
After getting a clear picture of her situation, Sean recommended investing £475,000 into a Business Relief (BR) scheme.
The strategy included life insurance during the first two years to cover any potential IHT liability while the investment qualified for BR. After two years, the investment became exempt from IHT, meaning the insurance cover was no longer needed.
Importantly, the client didn’t need to gift any assets and retained access to her capital throughout.
The result was an immediate reduction in the client’s projected IHT liability, with a potential saving of around £190,000.
This is a great example of the work we do. It shows how effective planning can make a significant difference and why understanding the options available is so important.
Sponsored school fayre (and a visit from a celebrity!)
We were proud to sponsor the Banstead Preparatory School’s summer fayre, and our team gave up their Sunday to run our stall.
We were the only stand not charging for our refreshments, and as is often the case with good marketing, that approach worked better than anything else!
People stopped by for a chat, got involved, and wanted to find out more about us. We ended up speaking with a number of potential new clients who actually came to us asking how we could help.
Things then took an unexpected turn, as the fayre received a visit from none other than Levi Roots! He is the founder of Reggae Reggae sauce and found fame and funding on Dragon’s Den.
The day wrapped up in the pub with a well-earned drink. Big thanks to the team who helped make it happen!
See you next time!
We hope you’ve enjoyed reading about what the MLP team has been up to. Look out for our next update coming soon.
If you want regular financial tips and don’t want to miss any of MLP’s latest news, connect with Seán’s LinkedIn and stay updated!