Geordie Bulmer is the UK winner in the Inheritance Tax Planning Adviser of the Year category in Finance Monthly’s 2018 Taxation Awards. We caught up with him this month to hear about his win and his work within inheritance tax planning.
As winner in the Inheritance Tax Planning Adviser of the Year category, how do you feel your character and attitude towards your profession has made you a leader in the tax planning business?
I’ve been advising on various areas of financial tax planning for over 10 years but have specialised in Inheritance Tax planning because I believe it’s an area where I can add real value. My clients are usually over 60 and one of my strengths is being able to make difficult subjects easier to understand. If a sophisticated investor wants a detailed breakdown of how a specific Trust works, then I can present it at their level but many clients are confused by technical jargon and just want to know that the recommended strategy will achieve their objectives.
You are also a competitive sky diver; how do you believe your skills, not the practical ones of course, transfer to your work in inheritance tax planning?
I stopped skydiving when my wife got pregnant as I could no longer accept the risk of an accident. There is a risk involved with everything and you have to make sure you’ve covered all potential problems before making a big decision, such as establishing a Trust (or jumping out of a plane).
Having joined AISA Professional in 2009, how do you feel the company has developed your winning attributes?
AISA has been winning awards for a number of years now, including International Adviser Excellence in Investment Planning in 2017, so I’m really pleased that we continue to be recognised for our hard work. As a company we aim to follow a planned strategy that we review regularly and this helps us exceed our client’s expectations.
What would you say are two major priorities and concerns of your clients?
Although clients would like their estate to pay less inheritance tax, many do not want to completely give up any future access to their capital or an ongoing income. Therefore every situation has to be individually assessed to ensure current objectives and potential future requirements can be achieved.