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Lawyers who focus on protecting the family assets will keep the right clients coming back, bringing their friends, family and colleagues too. To achieve this requires an ongoing relationship throughout the lifetime of each of client, which is perfectly feasible, but rarely achieved. Relationships to enable your practice to provide wealth management services through increasingly professional IFA's can open up a host of new strategic opportunities.
Any legal practice keen to develop a stable long term business around higher value individuals should be - at least - exploring options to develop wealth management services, where there is potential here to transform at least some parts of your business.
A joint venture with the right IFA organisation can create the focus needed. Integration of financial services into legal service offerings has become more attractive with the shift in financial services from commissions to fee based remuneration and increasing levels of qualifications required to provide financial advice from 1st Jan 2013. Also the potential in some cases to develop an ABS.
Every joint venture needs to focus on a shared business plan, which is where Inpractice UK come in to:
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Help lawyers recognise the full potential of the opportunities available;
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Make sure the right steps are taken, with persistence, to make the most of the opportunity to improve each client's experience and deepen their relationship with their lawyers.
To discuss how you could take advantage of these opportunities, contact Allan Carton on +44 (0)161 929 8355 or by completing this form.
