Advisers should familiarise themselves with what clients can and cannot do with a power of attorney if they want to work closely with solicitors and accountants, Tish Hanifan told delegates at PA360.
The Society of Later Life Advisers (SOLLA) founder and chair (pictured) said fully understanding power of attorney can differentiate a business to potential professional partners like solicitors and accountants who may be seeking to work with financial advisers, and vice versa. "It's very unlikely the person who comes to see the financial adviser is the older person themselves. It's very often their family, so the issues around capacity and who makes decisions for others are key in the later life market," she explained. "In terms of business opportunities, making sure you have familia...
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
