Overcoming Consumer Anxieties And Regulatory Concerns
There are many obstacles, understandable obstacles, that consumers must bypass in order to instruct a professional to complete a Will or Estate Planning work. People do not like to contemplate their own mortality and financial restrictions may dissuade others. However, a new report has claimed that issues regarding regulation may deter others from using expert Willwriters.
The Wills and Probate Consumer Research Report 2018 has found that 61% of the general public are unaware that Willwriters are unregulated, with 50% of the 1,034 respondents adamant that Willwriters should be regulated to some extent.
Assuming that regulation leads to expertise and trust, many would prefer this option.
Additionally, 80% of the 379 respondents that have a Will used a fixed fee, suggesting that the public remain sensitive to price and would opt to pay a little more in order to avoid excess fees in the future.
It is feared that a lack of understanding concerning regulation could deter many consumers from accessing legal services provided by talented and experienced professionals.
Therefore, it is extremely important to highlight your skills, expertise and service offering to the consumer.
Overshadow the doubt created through regulatory misunderstanding by joining the IPW or ISPW, the trusted and respected organisation in Wills and Estate Planning.
The Institute is trusted by regulators and consumers alike. We frequently consult on regulatory changes with regulatory and governmental bodies. We also pride ourselves on the Institute’s intricate understanding of the multifaceted and diverse Wills and Estate Planning sector.
The Institute’s recent November Satisfaction survey, of 95 Members’ clients, found that 91% viewed Members’ services as ‘excellent,’ with the remaining 9% expressing the Institute Members as ‘very good’ at what they do.
When 100% of Members’ clients would recommend their services to others, the quality offering provided by Institute Members becomes clear. When regulatory concerns could become a factor, quality testimonials attributed to Institute Members could encourage consumers to use these companies in the future.
Joining the Institute will further enforce that your business is reputable and trustworthy – the approved Chartered Trading Standards Institute digital badge will highlight the quality service offerings you can deliver to the consumer and the trust the CTSI has in the organisation.
Joining the Institute will help to solidify and expand the credible and expert services you offer.