Inheritance Advice

prt20

Hi, 

We are looking for a professional to have a discussion with in order to properly plan our estate inheritance plan for our children. 

We are finding it very difficult to find an independent financial advisor. Researching online takes us to sites such as unbiased and vouched for. Else there are review sites in which we don't know whether the reviews are trust worthy. Its all rather difficult. 

What would be the best way about getting in touch with a good advisor. Any tips would be greatly appreciated ( sorry if this was already posted, i did a search beforehand ) 

Thanks

Brie

if you have a provisional person to talk to why not post some queries here first so we can help you clarify what it is you want to ask so you don't waste your time asking simple questions.  

Marcon

[Deleted User] said:

Try someone who is a member of STEP: https://www.step.org/directory/members

I'd second that - they have a range of advisers, not just IFAs, who are specialists in the areas you need.

artyboy

I'm in a similar boat, at some point soon, possibly after the next budget, Mrs Arty and I really need some proper guidance on estate planning. Whatever people's view on generational wealth, we will likely have some to pass on, the first generation of our respective families to do so.

Costco keep plugging discounts for an IFA called Assured Private Wealth - they seem big on that side of their business. Generally I subscribe to a view on here that any firm with "Wealth" in the name is likely to be expensive, but there's another part of me that thinks Costco types don't part with cash all that easily. Maybe that's too much of a generalisation! 

Anyway, might have a chat with them soon, assuming no bad experiences here to report...

Albermarle

Depending on where you live, you might well find a small IFA firm in your local high st, or parade of shops, and even more likely a solicitors office as well. 
Probably cheaper to use than a nationally marketed service.
AFAIK most IFA's and solicitors will be OK for estate planning advice, as long as you are not in the multi Millions bracket. 

Sarahspangles

I used the STEP search as we need to update our wills, only to find that our existing solicitor that we’ve used for conveyancing and minor executor stuff is STEP, which makes it easier. If we did feel we needed an IFA I think I’d ask her if she knows someone. We seem to have stumbled on a little outpost of the 1950s where you actually have a solicitor in your address book.

masterpeas

artyboy said:

I'm in a similar boat, at some point soon, possibly after the next budget, Mrs Arty and I really need some proper guidance on estate planning. Whatever people's view on generational wealth, we will likely have some to pass on, the first generation of our respective families to do so.

Costco keep plugging discounts for an IFA called Assured Private Wealth - they seem big on that side of their business. Generally I subscribe to a view on here that any firm with "Wealth" in the name is likely to be expensive, but there's another part of me that thinks Costco types don't part with cash all that easily. Maybe that's too much of a generalisation! 

Anyway, might have a chat with them soon, assuming no bad experiences here to report...

hello Artyboy, I am so glad coming to your response when I was searching for online reviews about your mentioned COSTCO suggested APW service as we really want to find a trustworthy and prompt service at an effective costs obviously to get this important life task done ASAP (trust will and LPA), wondering if you have gone with APW and if you have or have not, could you please share more insights on your choice and how you have found about APW service? they seem to have good reviews but very limited, and not on trustpilot. Their exclusive package available via COSTCO seems so unbeatable which makes me wonder more before signing a contract. Just a matter to see how their customer service is like, efficiency of dealing with client requests will really matter when we come to use their service, such as probate or even an answer for a query, simple as that. Sometimes costs is only a part of our purchasing consideration, isn't?  looking forward to your response. Much appreciated for your valuable shared feedback to help people like us. 

poseidon1

I knew nothing of this Costco connection to APW so thought I would take a look at their marketing.

Apparently they offer a will writing service  ( amongst other things) which intially was a red flag for me since I am opposed to non SRA regulated businesses offering this service.

However in the present case APW in the link below seems to infer their IHT advisers are either CTA or STEP qualified, which in my view would be unusual certifications for employees operating within an IFA mantle -

https://www.apw-ifa.co.uk/inheritance-tax-planning-adviser/

If @Artboy does progress to a consultation I would be interested to hear the outcome and if he had dealings with a STEP or CTA qualified individual on IHT and Wills planning matters.

xylophone

You could try

https://adviserbook.co.uk/

Tick "confirmed independent" and services required when the menu comes up.

artyboy

I had an initial discussion with them, but not progressed so far. Guy seemed to know his stuff, although I really do need to build my own knowledge of different trust structures before taking this any further. Certainly it •sounds• like there may be some mileage in using some specific trusts, despite my initial reservations, and that of many on here. 

I'm certainly not going down the "SJP" route of being suckered into setting up anything overly complex/inflexible that ties me into a specific FA relationship. So my new year reading will be to get a better understanding of what they have sent me.

At the moment though, I have no actual concerns with APW - let's face it, the stereotypical Costco member profile suggests a wariness of parting with money, while not actually having any real shortage of it!

poseidon1

artyboy said:

I had an initial discussion with them, but not progressed so far. Guy seemed to know his stuff, although I really do need to build my own knowledge of different trust structures before taking this any further. Certainly it •sounds• like there may be some mileage in using some specific trusts, despite my initial reservations, and that of many on here. 

I'm certainly not going down the "SJP" route of being suckered into setting up anything overly complex/inflexible that ties me into a specific FA relationship. So my new year reading will be to get a better understanding of what they have sent me.

At the moment though, I have no actual concerns with APW - let's face it, the stereotypical Costco member profile suggests a wariness of parting with money, while not actually having any real shortage of it!

Certainly fits the profile of some Costco members I know, myself included!