In Focus: Intergenerational Wealth  

Adviser launches later-life course for clients

Adviser launches later-life course for clients
 Photo: Pixabay

A financial adviser has created an educational course for clients and their families to help them get to grips with estate planning and wealth management. 

Mohammad Uz-Zaman, associate Step member and founder of ADL Estate Planning, said he set up the course to tackle financial illiteracy which, he said, was often at the root of people's lack of wellbeing. 

By educating clients to be better informed about how financial services works in the round, he said it would free people up to be able to pursue other interests, and focus on the family and their personal wellbeing, rather than worry about wealth creation or whether their descendants will be hit by tax.

The ADL Wealth 360 Wealth Management Course takes people through the basics of wealth creation through to more complicated subjects such as trusts and inheritance planning. 

Uz-Zaman said: "As important as it is to create wealth, I believe it’s just as important to retain the wealth you’ve created.

"More importantly, it's good to have purpose for the surplus wealth you create. Life is short; there must be more to our human potential than simply to be a cog in a global economic machine that is mostly geared up only to maximise consumption.

"I believe humanity has the agency to achieve so much more but lacks the will. Just imagine if we could liberate people just enough to allow them to better realise their purpose and potential: what would that do to social well-being?"

The course, which costs £597, explains how to find a financial adviser that suits the client's particular need, discusses the role of the Financial Ombudsman Service (and claims management companies) and looks at faith-based financial planning and wills for clients wanting to follow a principles-based financial plan. 

When people enrol, they will get 13 hours of recorded comprehensive videos to review as many times as they want, when then want, and will have access to a qualified financial instructor.

They will also receive a specialist will and trust (currently charged at £1,000) if they are a UK resident with UK-based assets.

Uz-Zaman added: "I believe that among the ways people can become the best version of themselves is if they didn’t have the burden of financial obligations upon them.

"I want to encourage a cultural shift which help people make smarter decisions that will protect their wealth for successive generations. I want successive generations to have accountability for the wealth their antecedents left for their benefit."

simoney.kyriakou@ft.com