Mortgage and protection broker, Access Financial Services, has announced it is launching a free will writing service.
The initiative follows a successful two-month pilot, the firm revealed.
Access FS has partnered with legal firm, Prestige Legals Direct, to provide the service to clients of every age. Prestige specialises in wills, trusts, inheritance protection, lasting powers of attorney and probate.
The free service can allow Access FS to help both mortgage and protection advisers maintain trust with their clients and their families, as well as help the firm to attract new clients. The launch of the service also sees Access FS strengthen its customer offering in line with the updated FCA’s Consumer Duty guidelines.
Given advisers are required to contact trustees while executing a will, Access FS suggested there is an additional opportunity to provide will services to a new generation of family members, as well as introduce a range of life and mortgage products.
CEO of Access FS, Karl Wilkinson, commented: “When loved ones pass away without a will in place, it can be both time consuming and stressful for the next of kin. In many cases, beneficiaries are also dependent on funds from the estate to pay bills and provide for family members. For the three in five people who don’t have a will in place it can result in a lengthy probate process and people unable to get access to much-needed funds, sometimes for many months.
“We are endlessly seeking new ways to help our advisers provide quality financial support for their clients. Our partnership with Prestige Legals Direct is the latest in a number of initiatives that we have introduced to help both our advisers and their clients. Throughout our two-month pilot, we found that 60% of clients who take advantage of the free will service also purchase another service from our advisers.
“It is a highly valuable service to help advisers generate more business in this challenging economy while also ensuring that we help comply with the FCA’s new consumer duty rules to offer value and a good outcome to the customer.”
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