It doesn’t happen often enough.
Unfortunately, we know this from experience. People have approached us on many occasions having received advice from one of their other professional advisers, such as their solicitor or accountant, which hasn’t taken into account their financial circumstances fully, or made the most of financial planning opportunities.
But when it does happen, it can be terrific.
The benefits of joined-up advice for clients can be huge. We work incredibly closely with selected professional partners to ensure that their legal advice dovetails with our financial advice, which dovetails with their accounting advice. It’s a win-win situation not only for the client, whose holistic circumstances are understood and taken into account by all of his professional advisers, but also for the professionals, who benefit from being able to provide a truly personalised, holistic solution.
So what’s the barrier?
Solicitors, for one, are required by the Law Society to make sure that their clients are satisfied that any referral for financial advice is in their best interests by undertaking significant due diligence on any firm they wish to make referrals to. This can be incredibly time consuming and challenging.
Well, we’ve taken a huge step towards helping solicitors meet their legal requirements by becoming a member of SIFA Directory of Professional Financial Advisers, which is endorsed by the Law Society. This means we are able to provide solicitors with a complete due diligence trail for their firm as well as the necessary documentation about us to use with their clients. As a SIFA Trusted Adviser we aim to make working with us simpler for solicitors by providing optimum reassurance that client referrals are compliant.