In February 2016, the FCA published their guidelines for An Ageing Population & Financial Services DP16/1. Since then many public articles and sector events have centred on specific areas highlighted within this document, one of which stands out at the forefront for Myself: Roles of Firms – Adapting to the changing needs of our customers. This is still a growing concern for Advisers and must be treated with high importance.
With an ageing society, we are increasingly expected to make plans for later life, whatever avenue this may be down: pensions, investments, Wills or Lasting Powers of Attorney just to name a few. However, in order to make these plans, the correct financial services information is very much needed. Regardless of the possibility of robo-advice and how much interest the next generation may have in this, access to personal financial services advice is going to be much needed when they receive the wealth of their parents, grandparents when the time comes.
I, in the past have supported probate services as being an open gateway to gaining a relationship with the next generation. This has proved successful for the advisers who work with APS Legal & Associates; not only does it keep you involved at the time when advice is needed for the next generation for potential business impact but also gains a close relationship with the people who really look for support at this time.
As a specialist Will Writing company we endeavour to be role models in our sector. And why shouldn’t we be?
We know the importance and issues that occur when these vital plans are not put into place, Clients wouldn’t know necessary know this until without technical advice.
As Will writers and estate planners, we would encourage you to become involved in this sector. It is likely that, as you have written the Wills for your clients, the family will seek your advice at the Probate stage. When this time comes, we would strongly recommend you’re ready prepared.