2020 INTEGRATED REPORT

PPS ADVISORY SERVICES AND ENABLEMENT ABOUT PPS ADVISORY SERVICES AND ENABLEMENT PPS Advisory Services and Enablement (ASE) is an internal advisory channel that provides members with holistic financial advice and planning services to ensure that they are able to live the lives they deserve to live. Our advice-led financial processes are customised to meet the needs of graduate professionals and are specifically tailored for this purpose. Our 120 financial advisers and 15 wealth managers provide a highly personalised service, with each being responsible for 300 to 400 members. In addition, our boutique Wealth Advisory Service provides high-net-worth professionals with tailored financial advice and solutions for all their wealth protection, wealth creation and wealth acceleration needs. We also provide specialist support services to our network of PPS independent advisers to assist with complex financial advisers’ planning. Our internal PPS financial advisers offer financial assessments and recommendations for a range of customised solutions, as well as expert advice on the entire suite of PPS products. Both our solutions and our products take into account the various lifestyle and financial issues that impact on graduate professionals in order to ensure that each financial journey meets the unique needs and goals of the individual member. Our integrated approach ensures that members can benefit from tailored financial solutions which satisfy both their financial and lifestyle needs. These include: Risk Insurance Planning Risk insurance planning is the process of planning for an unforeseen event like the death, disability or severe illness of a breadwinner or business owner. PPS ASE can help to mitigate the impact of unexpected events like these with appropriate lifestyle protection. Savings and Investments Planning Savings and investing for the future are crucial for professionals to reach their financial goals in the short, medium and long term. They are fundamental to financial security and the longer the savings or investment period, the greater the benefit from compound investment growth. Estate and Legacy Planning The value of the legacies that professionals leave behind depends on long-term planning. PPS’s estate and legacy planning service enables members to proactively create a valuable legacy. A sound estate plan enables them to protect and grow their assets during their lifetime and to ensure that those assets are available to provide for loved ones after their death. Retirement Planning There are only around 480 pay cheques between the time professionals start working in their twenties and the time they retire, typically in their sixties. Since many will live to 85 or more, they will need an income for at least 240 months. The only way to secure this is to start planning for retirement as early as possible and to select the right investment strategy. Business Planning Business planning is designed to maximise tax efficiency and ensure business continuity in the event of a serious illness or death. A sound business plan also ensures that the business is covered against such eventualities as accidental damage and personal liability claims. PERFORMANCE At the start of 2020, the business was on a positive performance trajectory. This, however, could not be sustained with the implementation of the national lockdown associated with COVID-19, and the resulting impact on the economy. We had to reassess our way of working and adapt to a new and unexpected set of operational challenges. Most importantly, we had to make a rapid changeover to remote working by significantly increasing the use of technology and enhancing our digital capabilities. GROUP PERFORMANCE AT A GLANCE | 55