Not only is it a great way of the adviser demonstrating they have their clients’ best interests at heart, it can also help the adviser expand or protect their client base and increase protection sales.
Approaching existing clients to explain the benefits of a trust may lead to further sales especially if their needs and priorities have changed since they took out the original policy. But putting policies in trust also allows the adviser to approach the trustees to explain their role and potentially convert some new business by reviewing their needs.
Ian Smart, head of product proposition at Bright Grey said: ”With less than 10% of all protection policies being written in trust, unfortunately many families needlessly experience the difficulties that that brings with it, problems with probate, legacy disputes and unintended gifts to the tax man.
“With Britain on an economically uncertain footing it is vital that families receive the full value spent on protecting their future.”