Financial Advisors be aware!
RDR! KYC! TCF!
What will be the impact over the next three years?
The Future: Earnings will equal Service, which will equal Recurring Income. So, No Service means no income and more service means more income.
Client retention is paramount AND Service is the key. Product providers will become less relevant.
Service will be based on FF/Risk Profiles /WRAP etc.
The Core Proposition MUST = service.
ESTATE PRESERVATION will become fundamental to CLIENT RETENTION
So how can you build this into your business?
Having worked with financial advisers for over 35 years, I probably have some understanding of the way you work. Many advisors have told me that they recommend their clients to have wills drawn up; they may even guide them to a local solicitor for this very purpose.
Unfortunately, that doesn’t always resolve the problem.
• Does the solicitor fully understand what you’re doing?
• Are you getting a “joined-up” approach between you?
• Is the solicitor on the same page as you?
• How many solicitors are specialists in: Long Term Care, Inheritance Tax, Bloodline Protection, Business Protection Strategies?
• What do you get out of it?
Davies Evans & Law are Asset Protection Specialists who work with Financial Advisors to provide an all round, joined-up service to their clients.
As the Financial Advisor, you will be kept informed of the advice given to your clients – and all the implications thereof.
Ancillary Business
As part of the process, our own expertise will often spot further opportunities for advice from you, leading to additional F.S. business. Examples of this may be in the areas of Long Term Care or Business Protection
Referral Business
Many of our clients will refer their friends and families to us. In these cases, we refer those new clients back to you, for financial advice.
Client Retention
With the client’s permission, we will include in their package a clause indicating that you should remain as advisor to the family, even after their own death. Potentially, this means you could continue to give advice for 125 years!
A Joined-Up Service
You take control of the will, for your clients’ benefit – avoiding conflicting advice and outside interference.
To discuss this matter further, please call us on 0845 017 6527 or email us at enquiries@daviesevansandlaw.co.uk
For advice or further information
CALL 0845 017 6527 NOW
Davies Evans & Law – Asset Protection Specialists offer:
• Friendly professional advice.
• Initial meeting is arranged free of charge
• A Fixed Fee. Unlike most Solicitors and Legal firms, Davies Evans & Law do not charge by the hour but offer a competitive fixed fee which is disclosed prior to any work being undertaken.
