Accountants, Lawyers and IFAs – A Team Approach

Bymapfinancesadmin

Accountants, Lawyers and IFAs – A Team Approach

Business people making introductionsFinancial, legal and tax advice are areas conducted by professionals adhering to their own sets of standards and qualifications, with their own professional bodies and regulators.

These advice professions are no different to other business sectors though when it comes to facing growing pressure to retain their existing clients, and more importantly, to win new clients and discover sources which will provide those new clients.

Legislation such as the Legal Services Act (LSA) and the Retail Distribution Review (RDR) has forced the legal and financial advice professions to introduce more client centric business models and, at the same time, become more competitive. This in turn has created a growing pressure for these advice professions to diversify and expand their business propositions in order to be more competitive.

Working more closely and proactively with a professional IFA can provide a very simple but effective solution to this problem.

Given the overlap between many areas of tax, legal and financial advice, a number of firms have seen the potential for Accountants, Solicitors and Independent Financial Advisers to work together to leverage each other’s client relationships. It provides those clients with a more holistic, joined-up and value-added approach to advice, and at the same time resolves the challenges of retaining existing clients and finding a source of new clients.

If you would like to find out how Money Advice & Planning can add value to your business and your client relationships, please visit us at www.mapfinances.co.uk and use the contact form. Alternatively, call your local MAP adviser at a time which suits you.

The material is for general information only and does not constitute investment, tax, legal or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Links to external sites are for information only and do not constitute endorsement. Always obtain independent professional advice for your own particular situation. Money Advice & Planning Ltd is authorised and regulated by the Financial Conduct Authority.

About the author

mapfinancesadmin administrator

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.