Montgomery Charles adviser achieves unprecedented STEP qualification

By December 21, 2023Client Zone, News

Mike Marigold is the CEO of Montgomery Charles. He has over 30 years’ experience of providing his clients with the financial guidance they need to get more ‘life out of life’.

Image: Tim Collyer (L), Mike Marigold (R)

One of the most rewarding aspects of looking after clients for over 25 years is that you follow them through different financial life changes over time. And one thing I’ve particularly noticed is how much clients can need support when losing parents, and find themselves having to navigate complex processes – like probate, for example – at what is a very difficult time for them.

Time and time again, we see that when clients have funds that they know they won’t spend in their lifetime, their biggest financial concern becomes the matter of how they are going to pass wealth to their children and grandchildren without paying 40% in Inheritance Tax.

This is a process that – with the right technical advice – can be transformed from a tax headache to a wealth transfer triumph – something my colleague Tim Collyer has written about here (and I’d encourage you to give it a read if you do want to better inform yourself around matters of inheritance planning).

In face, the technical issues and concerns when providing probate and planning are so myriad, that Tim decided that although he was already Chartered, he would embark on a mammoth exam (one more typically taken by private client solicitors) in order to obtain a STEP Certificate – a foundational qualification designed for professionals working in trusts and estates, financial planning, accounting, and law.

My eyes widened as Tim explained the process of the exam. As a company, we give support to all of our employees for self-development, including funding any exams and allowing them study support time. Nevertheless, imagine my surprise when Tim told me it was a seven-hour exam! I really did wonder if he was putting himself through the mill a bit.

Tim, however, loves to accumulate knowledge and I was incredibly impressed to hear that he achieved a pass score of 96% – one of the highest scores for the STEP exam that I’ve seen in a very long time. As well as being a huge personal achievement, it means that as a company, we can provide support for our clients at the very highest level at times of bereavement.

Well done Tim!


Want to plan ahead?

If you’re at that stage in life when you’re planning on passing on your wealth, and you know that your estate is worth more than £1m, some financial planning support will make a massive difference to the inheritance tax your family might pay. We’re happy to have a short, no-obligation chat to discuss your situation.

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