View more on these topics

Wills will lead you to wealth of clients

JEFF SMITH, COMMERCIAL DIRECTOR ,THE ASSET PROTECTION STRATEGY
JEFF SMITH, COMMERCIAL DIRECTOR ,THE ASSET PROTECTION STRATEGY

In the previous column, I discussed how easy it is to introduce asset protection to your clients.

It can be broached during the standard fact-finding process, when you would normally ask if clients have a will in place, or at the remortgage review.

While asset protection is an effective way to generate revenue from existing clients, another benefit of introducing the concept of wills and trusts is that it can help you acquire new clients.

Once you have discussed some of the main areas of asset protection, you will find that many clients, realising how exposed they are, will start talking to family, friends and colleagues.

Also, putting a comprehensive asset protection strategy in place for a customer often results in the executors, trustees or guardians who are legally required in a will becoming your clients too, as they are likely to be insufficiently protected themselves.

Once you have arranged a will for your client it is important that you contact the executors, trustees and guardians to ensure they know their responsibilities which makes the process easier.

Crucially, the quality of your customers will improve as those recommended to be executors, guardians and trustees will generally be the more successful or professional of your clients’ friends or family.

And because many clients will be running their own business, it also offers an inroad into the business protection market.

Recommended

Gender questions and the new penury

Meanwhile, research from Scottish Widows shows that when it comes to financial intelligence more men rate themselves as savvy than women. Unfortunately, a separate report by the Consumer Credit Counselling Service reveals that an increasing number of men are seeking help with their debt. Thus while one report maintains that 48% of men rate their […]

Execution-only service is no excuse for bad advice

I am sure many advisers would agree with Gavin Hilton last week (Mortgage Strategy, Letters March 29) when he stated that banks’ service is not one of advice, but execution only. But one of the examples quoted was where a bank mortgage adviser sold a two-year fixed rate when the client’s needs specifically necessitated a […]

ANDY LEES, KEY ACCOUNT MANAGER, UINSURE

Family houses next generation of clients

As with most general insurance providers, I am frequently asked to provide marketing materials, campaign ideas and product literature to help drum up new clients. All these work to a degree. But an opportunity sitting right under many advisers’ noses is often overlooked when they conduct client reviews. This opportunity is employed children living at […]

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]

Newsletter

News and expert analysis straight to your inbox

Sign up