Arranging a Will isn’t a chore
Here at EPFI, we know how difficult it can be to get your head around expanding your offering away from what you see is your mainstream business.
It’s bad enough having to keep compliance happy, do all the paperwork and make sure that your client is in the best place. Making a Will for your client is something that you could, understandably, see as a distraction from increasing your earnings.
Here is why we think you should take a different attitude to arranging Wills for your clients.
One of the reasons we constructed The Online Will Serve software was that, as non-financial advisers, we saw how a Will opened up opportunities to other financial services business.
Here are just some of the openings a Will can provide:
Referrals – Every Will needs executors. Some may need guardians for young children. Arranging a Will can open doors to these other connections. How much would you actually pay for warmed up leads?
Uncover Financial Services business – Clients are remarkably open about their affairs when they are arranging a Will. After all, they want to make sure everything is covered. So, you may find out about that policy they never told you about that they arranged through the bank and which you could perhaps now rebroke. Or that investment they made online. Or had they thought about arranging protection for all that credit card debt they have just told you about.
Additional products – It’s natural to talk about who is going to look after the children should the worst happen. But how is that going to be paid for. Have they arranged Guardianship insurance. Or what financial arrangements have they made to pay for their funeral?
Parents – it’s natural in a Will to talk bout parents. Do they need Wills (or Powers of Attorney?). Are they worried about care costs?. Are they going to leave your clients a substantial inheritance?
Complex situations – your clients might have complicated family situations and need more bespoke estate planning solutions. Just refer them over and you’ll receive a referral fee.
And there are lots more opportunities. We could go on.
So, don’t miss out on all these extra earnings opportunities. Make sure you talk to every client about a Will. You and your clients will end up all the better for it.
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