Financial-planning tools added to our new tools suite

3 min read 23 Nov 21

Having recently shared access to Prudential pension tools via the M&G Wealth Platform, we’re adding further access to a range of bond and financial planning tools.

One of the benefits of being part of M&G plc is having access to the extensive know-how  and experience of Prudential  technical experts. That includes access to the many online tools that Prudential has developed over the years to support advisers and their clients in their financial decision-making.

We recently added a range of Prudential pension tools to the M&G Wealth Platform . Now we’re pleased to expand this suite with a further range of bond and financial-planning tools.

Bond tools

Onshore and offshore investment bonds remain a core element of many client portfolios but their rules and tax treatment can be complex. We’ve therefore added two tools to help advisers determine an appropriate bond strategy.

Our Collectives & Bonds Calculator lets you show how returns compare, in general, between onshore bonds, offshore bonds and collective funds such as unit trusts and OEICs.

Meanwhile, the Bond Gain Tool helps with navigating the complex rules on bond gains, allowing advisers to model the potential gain on a bond as well as how many years you can use for top-slicing purposes, taking into account different levels of withdrawal/surrender and a bond’s premium and withdrawal history. Once this is known you can then enter the details of the bond gain, as well as any other sources of income that a client has to work out the taxation that would apply to the bond gain.

Financial-planning tools

We’ve also included four financial-planning tools, enabling you to test out a wide range of different ‘what if?’ financial scenarios with clients.

If a client is looking to invest to fund educational fees, the School Fees Calculator can work out the investment needed in an offshore bond to fund school or university fees and also the tax payable on withdrawals.

Or to show the impact of the rising cost of living, our Inflation Modeller tool allows you to demonstrate how inflation reduces the real value of investments and cash holdings over time.

The Inheritance Tax Calculator works out the potential IHT liabilities when establishing a Discretionary Gift Trust, Discounted Gift Trust or Loan Trust. Finally, an Investment Calculator demonstrates the accumulated fund value achievable over a period of time through investing. It can also calculate the investment likely to be required by a client to reach a particular savings goal.

Results for all these tools, which can be saved/downloaded, are illustrative only. But they can help to demonstrate to clients their different options and give them a better understanding of what’s needed to reach their goals.

Prudential endeavours to keep the tools and results provided up to date with applicable legislation and HMRC practice. However, changes may occur without notice and the tools might not be immediately updated to reflect such changes. Accordingly, the tools do not necessarily take into account all of the possible circumstances which could impact your clients, and should not be used as a substitute for your own independent analysis and advice process.

Give them a go

Log in to the platform to explore these tools.  See how they can support your advice process and let us know what you think .