With hindsight this is easy to say, but whilst many feel like they are banging their heads against a brick wall trying to re-educate their brokers who have only been used to the good times and moving from one mortgage to the next, there are some interesting propositions out there to help cross-sell, not only effectively, but with something that clients should all have.
Let’s take the simple Will as an example. The amount of clients who do not have an up-to-date will is nothing short of scandalous, (says he who got his first will only 3 months ago)! Not only that, but many who do may not have approached the whole process efficiently. How many have life cover in trust for one?
The good news is that there is a company who we were recently introduced to who can assist in training staff on the best way to approach this. The Asset Protection Strategy have come up with a carefully structured programme that can reduce the threat of a number of dangers, of which Inheritance Tax is just one.
The strategy addresses five main issues:
* Inheritance Tax
* Marriage After Death – the problems that can threaten the families assets when a widowed spouse or partner remarries
* Long Term Care Costs – those with assets are expected to pay towards the cost of care
* Bloodline Issues – where assets left to the next generation are lost or seriously eroded as a result of beneficiaries divorce or bankruptcy
* Death in Service, life assurance and pension benefits – how they can be protected for the family It is interesting to see how many traditional mortgage brokers are still looking at diversifying and finally increasing the levels of cross-sales that, let’s face it, we should all have been doing anyway – the best time to fix the roof is always when the sun is shining.
Anyway, check it out yourselves at http://www.theassetprotectionstrategy.co.uk/ or give the charming and professional Jeff Smith, commercial director, a call on 07977 277396 and say Monty sent you. And before you ask, no I don’t get any referral fees!