Mortgage and protection broker Access Financial Services has launched a free will writing service to help its advisers attract more clients.
The launch follows a successful two-month pilot which saw Access partner with law firm Prestige Legals Direct to provide the service to clients of all ages.
According to recent research as many as three in five adults in the UK do not currently have a will.
As part of the initiative, Access’ advisers will provide a legally-binding, execution only will, while high-net-worth clients and those who require more sophisticated estate planning will be passed through to Prestige Legal Services for legal advice from a qualified solicitor.
The brokerage believes the new service will help its advisers maintain trust and further relationships with existing and potential clients.
It noted that as advisers are required to contact trustees while executing a will, there is an additional opportunity to provide will services to a new generation of family members, as well as introduce a range of life and mortgage products.
Access chief executive, Karl Wilkinson said the absence of a will can cause undue hardship for the loved ones of the deceased.
“When loved ones pass away without a will in place, it can be both time consuming and stressful for the next of kin. In many cases, beneficiaries are also dependent on funds from the estate to pay bills and provide for family members.
"For the three in five people who do not have a will in place it can result in a lengthy probate process and people unable to get access to much-needed funds, sometimes for many months,” Wilkinson said.
He added: “It is a highly valuable service to help advisers generate more business in this challenging economy while also ensuring that we help comply with the FCA’s new consumer duty rules to offer value and a good outcome to the customer.”
jane.matthews@ft.com
