CompaniesOct 1 2014

‘Professional partnerships add value for clients’

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Having lawyers, accountants and tax specialists working alongside wealth planners can add value to both advisers and clients, a director at Prydis Wealth has said.

James Priday, director of the Devon-based advisory firm, said: “Our client base has expanded greatly post-RDR due to this unique proposition; it’s amazing how well people have responded to dealing with just one firm across their business and personal financial affairs.”

The development of Prydis Wealth’s D2C proposition, Strawberry Invest, has also helped the firm “cater for those clients with smaller amounts of assets to save and invest”, Mr Priday added.

His comments came after the firm recruited chartered financial planner Liz Andrews from legal firm Gilbert Stephens Financial Services.

Ms Andrews, who originally trained as an actuary, has worked in the financial services industry for 15 years.

Mr Prydis’ comments came after advisers called for greater collaboration between advisers and fellow professionals such as lawyers, accountants and actuaries, after a woman’s NHS defined benefit pension was miscalculated by a lawyer.

Blair Cann, senior partner at Hertfordshire-based M Thurlow Brokers, said laywers should be consulting advisers and actuarial consultants when looking at the pension benefits of clients seeking divorce.

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Tony Clements (pictured), chartered financial planner for London-based Lothbury Wealth Management, works with actuaries and legal professionals. He said: “It is important to have a solid network of professional connections behind you. Their knowledge can add so much to our proposition – and vice versa.”