By Pat Seaward, Business Relationship Manager, SIFA Professional
Christmas Past…
SIFA was originally founded in 1992 as Solicitors for Independent Financial Advice and in 2009 launched SIFA Professional, which has offered support and consultancy to quality financial advisory businesses looking to build professional compliant relationships with solicitors. We here at SIFA Professional believe that joined-up legal + financial advice leads to the best outcome for your clients. The financial advisory firms on the SIFA Professional Directory are independent and impartial firms, dedicated to providing the highest quality advice to their clients. They are members of SIFA Professional because they want to be kept informed of the key issues affecting the legal marketplace when it comes to working with solicitors and their clients.
Christmas Present – Law Society hosted webinar with SIFA Professional Member Panel
On 22 November, three of our member firms, Ruth Dolan of Tarvos Wealth, Colin Low of Kingsfleet Wealth and Andrew Elson of Berry & Oak, each gave a ten minute case study presentation on Inheritance Tax, Trusts, and working with attorneys under LPA’s. This was followed by a Q & A session from the online audience of solicitors on the topics covered, as well as explaining the differences between an independent adviser and one that is restricted; and explained the notable differences that being a Chartered adviser (of which all three are) can add when a solicitor is looking at making those connections.
We had a fantastic response from solicitors wanting to see a webinar of this format. We appreciate the time the delegates took out of their day to attend this live event and both ourselves and the Law Society were very pleased with the post-event feedback, such as:
- Good insight to working with another professional
- Appreciating wider need for financial planning and where a planner is appropriate
- I will be using an IFA
- There were some good tips for IHT planning included in the webinar which gave an insight into the advice given to clients
- Gave a general overview of how financial planning benefits us and our clients
- Very useful
- It has opened areas for further study
- Deeper insight into variety of options to help clients with wealth and tax planning matters
- Helped to understand more the role of a financial planner in Wills and Probate cases
- Heightened awareness of the chartered financial advisor
Should you wish to view the recording, please click here and we hope you find this session of interest.
Christmas Present – SIFA Professional Member articles published since October
A reminder of the articles written by SIFA Professional members and published here on Legal Futures over the past few months, together with a couple of Blogs from us:
Don’t miss these opportunities to enhance your client’s experience, when taking Will instructions
Dividing Matrimonial Assets and how Cash Flow Modelling can help you
Who to trust with your Trusts?
How would you help your client who is facing a potential IHT bill of over £500k?
Pension Case Study – ‘If only I could retire a few years early I would’
This is not a drill – it really is time to embrace the transparency rules
Have you established a firm-wide third-party referral process?
Christmas yet to come – Referrals – in your client’s best interest
We know you are fully aware of the SRA Standards and Regulations and how they introduced a code of conduct for firms and with it an expectation for more centralised processes. This is important to keep in mind when selecting third parties to refer to when legal work highlights the need for complementary financial advice.
A referral has to be in the ‘clients’ best interests’ and this is, of course important when solicitors and financial planners are working collaboratively.
To find your financial advisory partner, search the Directory by location and specialisations at www.sifa-directory.info
