Estate planning advice could be limited in the future to those clients willing to pay to see a top end of the market adviser, warns Standard Life's estate planning specialist Julie Hutchison.
Under RDR proposals, Hutchison believes estate planning has a natural home within the Full Advice and Focussed Advice tiers with some advisers choosing to specialise in estate planning work with trusts, trustee investments and IHT planning. However, she is concerned little thought has been given to how estate planning will fit into the Generic and Primary advice sectors. Hutchison says: “All potential clients have estate planning advice needs of one kind or another which affects the financial advice they require. How are these to be addressed in those two tiers? “Financial help and gui...
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