Quarter of advisers leave clients to start estate planning conversations

The difficulty of discussing death with clients is a barrier

Isabel Baxter
clock • 1 min read

Nearly a quarter (24%) of advisers wait for clients to initiate estate planning conversations, Scottish Widows has found.

The Scottish Widows Confidence Barometer that surveyed 502 advised consumers, 500 non-advised consumers, and 502 financial advisers also found that 21% of advisers discuss it only when the client becomes seriously ill. One of the barriers to having estate planning conversations highlighted by advisers is the difficulty they perceive in discussing a client's death with them (65%) and their spouse or dependents (69%). Meanwhile, 41% of advisers surveyed only talk about estate planning at or after retirement, with 16% waiting until after their clients are into their 70s or older. Scot...

To continue reading this article...

Join Professional Adviser

  • 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.

Join

 

Already a Professional Adviser member?

Login

More on Estate planning

Justin Rourke is head of advice at Armstrong Watson

Part of the plan: LPAs are the missing piece of the advice jigsaw

Legislation aims to improve lasting power of attorney system

Justin Rourke
clock 23 November 2023 • 2 min read
Emily Deane: "Digital assets include everything from email and social media accounts, digital memories and collectibles, to cryptoassets and smart contracts."

Factoring digital assets into the estate planning process

Useful tools for advisers looking to demonstrate tech savviness

Emily Deane
clock 19 October 2022 • 3 min read
PA360 North: Estate planning a 'massive opportunity' for advisers

PA360 North: Estate planning a 'massive opportunity' for advisers

'Help clients gain clarity on where they want their wealth to go'

Julia Bahr
clock 05 October 2022 • 2 min read