, has formed a partnership with amicable, which delivers online legal services for divorce and separation. The partnership supports advisors helping families discuss their finances.
The organisations have worked together on bespoke “modules” built on insights from amicable’s negotiation team, to support advisors with difficult family conversations about money, Benchmark said in a statement yesterday.
The new offering has become especially relevant after the UK government’s 2024 Autumn Budget put unused pensions into the estate for inheritance tax purposes from 2027. The change means that advisors have more need to guide families through sensitive financial topics, such as wealth transfer – often much earlier than otherwise planned.
In the latest Schroder’s UK Financial Adviser Survey, 92 per cent of advisors indicated that the change had prompted these conversations, which can be difficult for both those wanting to give, and those inheriting wealth who may have never discussed finances with their family before.
“Wealth transfer can pose significant challenges for advice firms, so by offering both technical expertise and essential ‘soft skills’ support, we ensure advisors are well prepared to navigate these complexities,” Ed Dymott (pictured below), CEO, Benchmark, said.
Ed Dymott