This is something we put to Kirsty Coldicott of KLC Financial, another financial adviser where intergenerational planning is integral to their process.
“I’ve not come across that issue yet,” says Kirsty. “But I can understand why that might be the case. Because if the husband has dealt with another financial adviser and the finances have been very much dealt with by the male, then maybe they just don’t have any relationship with the spouse or the children.”
“It’s interesting. I have had wealthy widows come to me for advice, but I didn’t interrogate why they didn’t stick with their original financial planner.”
“Almost never would I deal with one spouse rather than both. We’re not this faceless entity that just deals with the husband, where the widow and children have no idea who to engage with.”
“We’re not losing client assets because we’re engaging with the families regularly. That protects us.”
How to prepare for the new beneficiaries of wealth
If you’re an adviser, the simple fact is that the transfer of wealth to surviving female spouses and younger generations is either going to impact your business or already is impacting it.
To prepare, join Octopus for a webinar on Thursday 12 May at 11am. You’ll hear more from Alan, Sunny, Kirsty and special guest Dr Eliza Filby. We’ll also explain how we can support intergenerational planning in your business.
Register at octopusinvestments.com/wealthtransferwebinar/
For professional advisers and paraplanners only. Not to be relied upon by retail clients.
Issued by Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. Issued: April 2022. CAM011954
