Scarlett Musson: What's the most important item in your business toolbox?

Consider lasting powers of attorney

clock • 4 min read

It is well worth being familiar with the purpose and benefits of the LPA, argues Scarlett Musson, even if it might not be the first thing advisers think of when stocking their financial services toolbox

The answer to the question posed by this article's headline is probably the same as that for a real toolbox - in other words, it depends on the task at hand. What is important is having a broad enough kitbag to be able to choose the right tool for the job. What do we do when we encounter a problem we cannot fix, though? Even Nick Knowles has his limits, and any amount of DIY cannot correct some emergencies. For those scenarios, we might look to insurance to put things right, but what if we come across a scenario where no amount of planning can fix the issue - because you can no longer im...

To continue reading this article...

Join Professional Adviser for free

  • 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 Your profession

Who really owns the digital client relationship? From ownership to orchestration

Who really owns the digital client relationship? From ownership to orchestration

The battle for the digital layer

Tessa Lee
clock 23 February 2026 • 5 min read
Why more financial advisers should post on TikTok

Why more financial advisers should post on TikTok

‘In 2026, financial advisers should take another look at TikTok’

Joe Jordan
clock 23 February 2026 • 4 min read
Treasury's AR consultation: Extending the FOS' scope a 'concern'

Treasury's AR consultation: Extending the FOS' scope a 'concern'

‘FOS needs to be overhauled as it is’

Isabel Baxter
clock 19 February 2026 • 4 min read