It pays to consider power of attorney when discussing a client's financial future, says Rachael Griffin, head of technical marketing at Skandia...
A recent survey conducted by Skandia suggested that less than 10% of clients have a power of attorney in place. This seems extremely low when we consider the far-reaching ramifications not having a power of attorney can have on someone's financial situation. A power of attorney is an essential part of planning for a client's future. They ensure that, in unfortunate and unforeseen circumstances, such as a car accident or incapacity, your clients have someone they trust to conduct their financial affairs on their behalf. This can offer reassurance and peace of mind. It can also offer co...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
