- AJ Bell, in partnership with Technical Connection and Ad Lucem, has launched its new Great Wrapper Reset campaign with flagship report
- Almost nine-in-ten financial advisers (88%) and paraplanners (86%) say wrapper decision process has become more complex in the past three years*
- That period has seen a series of reductions to tax-free allowances and increases in rates of capital gains tax and dividend tax under successive governments
- From April 2027, unused pension funds will be included in estates when calculating inheritance tax (IHT) – this is already having a huge impact on estate planning and wrapper decision making
- AJ Bell is helping advisers and clients to navigate this challenging environment
New research commissioned by AJ Bell and conducted by Ad Lucem as part of its ‘Great Wrapper Reset’ report shows that almost nine-in-ten financial advisers, as well as 86% of paraplanners, believe that tax wrapper decisions have become more complex in the past three years.
Successive governments have reduced various tax-free allowances and increased rates, as well as bringing unused pensions into the IHT net from April 2027. This means advisers are operating in an increasingly complex tax environment while delivering peace of mind for clients. Tax wrapper choice has never been a one-size-fits-all approach, but the report argues that decision process now needs a reset – particularly when it comes to intergenerational wealth transfer.
Advisers are clear about what would help: 79% say they would use a wrapper decision framework if one existed*. To meet that demand, AJ Bell’s Great Wrapper Reset resource hub provides a practical wrapper reset framework alongside a range of other support for advisers when making wrapper decisions. This also includes tips for effective wrapper conversations developed in partnership with behavioural science firm Cowry to ensure advisers are equipped to help clients make good decisions.
AJ Bell Investcentre offers a wide range of wrappers, including trusts, onshore and offshore bonds held within an open architecture. This compliments tax wrapper support available through AJ Bell’s Technical team, information on key regulatory and legislative updates via the Techcentre on the AJ Bell Investcentre website, and events and webinars designed to cut through the noise and provide practical support.
Advisers can download the report and find all Great Wrapper Reset resources here. A copy of the full report is also available on request.
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.
Charlene Young, AJ Bell head of technical, says:
“The Great Wrapper Reset has already begun. An ever-changing tax and regulatory environment that shows no signs of slowing down has forced advisers to reconsider approaches and challenge past assumptions on how clients draw income from their wealth in retirement. The fact almost nine-in-ten agree wrapper decisions have become more complex shows this reset is something the entire industry must recognise, and providers need to be on hand to support advisers and clients with navigating those decisions.
“Financial advice has never been more important, and more and more clients will be turning to their advisers on tax and estate planning to provide them with peace of mind that they will be able to both access and pass on their life savings as tax efficiently as possible. But advisers can only do this effectively and feel good about advising if they have the right tools and support from providers.
“AJ Bell is leading the charge with this support. Our Technical team have a vast expertise that advisers and paraplanners can tap into, and have created tax planning case studies to accompany the report. We’ve also partnered with behavioural science firm Cowry to develop a wrapper decision framework with tips for effective conversations. To back this up, our genuinely wrapper agnostic approach means advisers and clients have a full range of options and tools required in the current tax environment.”
Tony Wickenden, Technical Connection managing director and founder, adds:
“I’m delighted to have worked with the brilliant AJ Bell team on this important project. It’s a subject that has been close to my heart for some time, and I’m proud of what we’ve achieved: a combination of current, deep insight and serious, detailed consideration of the many moving parts of material tax change, affecting every stage of the wealth journey, from accumulation through decumulation to wealth preservation and transfer. I’m confident that what AJ Bell has developed from this raw material will prove of real value and practical assistance to the many advisers meeting the challenges of the Great Wrapper Reset.”
