- AJ Bell, in partnership with Technical Connection and Ad Lucem, recently launched its new Great Wrapper Reset campaign with flagship report
- The last three years have seen various reductions to tax-free allowances and increases to different tax rates, with nine-in-ten advisers saying wrapper decisions have become more complex during this time*
- That means evidencing each decision, and reasons why an alternative route wasn’t chosen, is more time consuming – 85% of advisers and 83% paraplanners agreed that evidencing requires more effort
- Advisers and paraplanners are routinely navigating these decisions to great effect but the rise in complexity is impacting confidence in some cases
- AJ Bell has developed a Great Wrapper Reset framework to help advisers and paraplanners with making and evidencing those decisions
Research commissioned by AJ Bell and conducted by Ad Lucem as part of its ‘Great Wrapper Reset’ report shows that 85% of advisers and 83% of paraplanners find evidencing tax wrapper decisions takes more effort in the current environment.
Although almost all (99%) advisers evidence why they choose a wrapper, this falls to seven-in-ten who also evidence why alternatives were rejected, with fewer than three-in-five consistently able to document the circumstances that should trigger a review in future.
Advisers and paraplanners face these decisions routinely, and continue to deliver great outcomes and peace of mind for clients. Our research presented them with multiple wrapper scenarios, both familiar and adapted to the more complex tax environment. While most navigated these scenarios tax efficiently, only a third (34%) reported feeling confident in the outcome. This is where providers can help.
AJ Bell’s Great Wrapper Reset resource hub provides a practical wrapper reset framework alongside a range of other support for advisers and paraplanners when making wrapper decisions. This includes potential steps such as using a short ‘rejected options’ prompt in suitability templates and recording events like tax status change, death, gifts, or a government measure that may warrant a fresh look at a client’s wrapper choice.
The AJ Bell Great Wrapper Reset Tour will run from 7 to 22 September 2026 across 10 locations and address the findings of the report with practical tips for advisers. Advisers can register interest here.
*Source: AJ Bell/Ad Lucem. Based on a sample of 350 financial advisers and 150 paraplanners from the UK, carried out online in May 2026.
Lisa Webster, AJ Bell senior technical consultant, says:
“In a world of dizzyingly complex tax planning concerns, financial advice is more important than ever. But advisers can only do what they do best with confidence when they have the tools and support required from providers. That means making wrapper decisions that provide the best outcomes for clients as well as evidencing the reasons why alternative wrappers were rejected and circumstances that should trigger a future review.
“We know advisers and paraplanners do not always have the time or resources to comprehensively document the entire wrapper decision process, which is why we have developed a Great Wrapper Reset framework and practical tips to help with this. Alongside the vast expertise on our technical team that advisers and paraplanners can tap into, and our genuinely wrapper agnostic proposition, we hope to ensure that advisers can save valuable time and confidently continue to provide peace of mind to clients in the current tax environment.”
Phillip Wickenden, Ad Lucem founder and CEO, adds:
“What makes this research unusual is that we didn’t just ask advisers how they feel, we watched how they decide. Five hundred professionals worked through the same client scenarios, and the picture that emerged should encourage the whole profession: capability is running ahead of confidence. Advisers aren’t asking to be taught – they’re asking for better decision architecture. That means prompts that test familiar assumptions, modelling that compares realistic alternatives, and wording that captures reasoning they’re already applying. Almost four in five said they would use a wrapper decision framework if one existed. That’s as clear a mandate as research ever produces, and it’s exactly what this campaign delivers.”