Solicitors should explore the opportunities to establish a joint venture with the emerging elite tier of fee-based and highly qualified IFAs who are poised to enter the professional community due to major changes in their regulation.
A joint venture is one way to help reposition your practice up-market, where advisory skills will command a premium; at a time when organisations like Co-operative Legal Services are poised to capitalise on the commodity end of the legal market.
Effective integration of financial / wealth management services into a legal practice can help solicitors to regain their historic role of trusted advisers; it can also be a catalyst for change, provided the lawyers recognise the vision of a different kind of service their practice should deliver in the future. One focused on satisfying a range of clients’ needs as part of a lifelong relationship, rather than completing legal transactions on demand.
Here we explain how we work with SIFA and their (IFA and Solicitor) members to ensure the success of joint ventures between solicitors and IFA's.
For more information and detail on these JV's, contact: Allan Carton
