Hot business tip number 5: Adopt an estate planning methodology across your business

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Estate planning can extend relationships with clients.

Estate planning can extend relationships with clients.

With an ageing population and increasing divorce rates, the demand for estate planning solutions will continue to grow rapidly in both the short and long-term.

For many advisers, the term ‘estate planning ‘ conjures up thoughts of complex, highly technical advice solutions such as wills and testamentary trusts. Whilst some aspects of a comprehensive estate planning process can indeed be complicated, advisers are ideally placed to act as a ‘facilitator’ of such a process, bringing in highly qualified specialists as required.

Aside from the significant demographic trends which are driving growth in demand for estate planning solutions, there are 4 major benefits of applying an estate planning methodology across your business (rather than thinking of it as a service relevant only to your older clients):

  • It can uncover new opportunities for advice with your active clients
  • It can be a cost effective way of re-engaging with inactive clients
  • It can be an easy to articulate, high value-add proposition to take to your referral partners
  • It can add significant flesh to your proposition and can be reflected in your Fee Disclosure Statement.

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This is an extract from a collection of business improvement tips for advisers, launched at Zurich’s Trax2Success national roadshow, featuring the 2013 AFA Adviser of the year Jenny Brown.

Click here to read Hot business tip number 1: Look after yourself and your staff

Click here to read Hot business tip number 2: Survey your clients

Click here to read Hot business tip number 3: Place a higher value on your time

Click here to read Hot business tip number 4: Review your client onboarding process

Click here to read Hot business tip number 6: Tailor your communication strategy by client generation

Click here to read Hot business tip no number 7: Change your approach to review meetings

Click here to read Hot business tip number 8: Create a differentiated service offering (segment your client base)

Click here to read Hot business tip number 9: Set up a Board of Advice

Click here to read Hot business tip number10: Develop a client retention strategy

Click here to read Hot business tip number 11: Run a program where staff drive improvements

Click here to read Hot business tip number. 12: Build your emotional intelligence

Click here to read Hot business tip number. 13: Go Social

Click here to read Hot business tip number. 14: Get better at handling objections

Click here to read Hot business tip number. 15: Create stronger referral sources

Click here to read Hot business tip number. 16: Set up a Google account

Click here to read Hot business tip number. 17: Learn from leading advisers

Click here to read Hot business tip number. 18: Make better use of technology in your business

Click here to read Hot business tip number 19: Improve your office environment

Click here to read Hot business tip number 20: Develop a great value proposition

Click here to read Hot business tip number 21: Make more use of video in your business

Click here to read Hot business tip number 22: Optimise your website for mobile

Click here to read Hot business tip number 23: Have a marketing plan

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