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Jamie Kyte, Chartered Financial Planner
Pete’s used to doing this and creating plans for people so that they know how to reduce their inheritance tax, but also ensure that they’ve got enough money no matter what.
Transcript
My name is Jamie. I’m a Chartered Financial Planner and founder of Kyte Financial Planning, and I’ve been working with Peter for five years.
I was a Chartered Financial Planner with Peter at my previous firm. Since we left the previous firm, we’ve stayed in touch and we still work together today.
To become a Chartered Financial Planner, you have to spend five years in financial services and it’s the highest accolade that you can achieve.
When a client is looking to take advice on estate planning, what I think is the most important thing for them to consider is first of all, looking at their overall assets and liabilities and getting an understanding of the position they’re in today, but also thinking about what it’s going to look like in the future. Then what I believe they need to do is find an adviser, in my opinion, who doesn’t just look at the financial planning side of it, but looks at the estate planning side too because they’re so interlinked.
If I were a trustee in a discretionary trust, I’d be looking for an adviser who’s got a good grasp of knowledge when it comes to taxation of trusts, how investments work in trust, and also how it works with regards to taking money out of trusts because it’s all interlinked, and if someone doesn’t understand how all of that works, they could be missing a trick.
Knowing Peter and the clients that he works with, the type of person who should use Peter for advice is somebody who is retired, probably in the later years of their life, thinking about inheritance tax planning, thinking about how they’re going to pass on wealth to the next generation. When I see the clients that he works with, if I could call it a niche, that’s kind of his niche, those are the people that he works with and he works with them really well.
Pete’s been doing this for a number of years, and he knows all the ways to reduce and address inheritance tax. There are things you can do in your lifetime, you can invest into certain investments, you can gift, you can spend more. Pete’s used to doing this and creating plans for people so that they know how to reduce their inheritance tax, but also ensure that they’ve got enough money no matter what.