Industry Voice: Talking to your clients - simple steps for advisers to add value to annual reviews

Meeting with clients allows advisers to demonstrate their own value, as well as better understand their client’s financial goals. But what role should intergenerational wealth play in these annual conversations?

clock • 3 min read
Industry Voice: Talking to your clients - simple steps for advisers to add value to annual reviews

Arguably one of the most important meetings in an adviser's calendar is the annual review, providing them with the opportunity to review their client's financial goals and ensure they are still on track.

And when viewed through the prism of intergenerational wealth, these annual meetings can create an excellent opportunity to create relationships with your clients nearest and dearest.

Target client referrals at other family members

All generations are happy to get involved with intergenerational wealth transfer planning.

Only 24% of Baby Boomers, 15% of Generation X and 7% of Millennials would not be happy.

Discussing intergenerational wealth transfer planning improves the likelihood of family members becoming your clients.

74% of Generation X and 80% of Millennials would considering working with the same financial adviser who was involved in the inheritance plan.*

Position yourself as an expert

It is dangerous to assume that your clients will automatically involve you in intergenerational wealth transfers. So, use your annual review to create trust and be the go-to professional regarding this most intimate area of financial planning. A simple example could be a "I saw this and thought of you" message - sharing with them pertinent and salient information in the meeting, which can be followed up with further communication in the following days and weeks. This will accelerate trust in an ethical and transparent way.


A good example is Quilter's ready-made Financial Passport template - an indispensable reference resource for the management of your client's wealth - which can be downloaded here.


Demonstrate how you will secure and grow wealth for the whole family

Younger generations are facing financial pressures and difficulties. Generation X and Millennials are not accumulating wealth in the same way as their parents and grandparents (Baby Boomers) enjoyed. If your client is one of these Baby Boomers, prove to them in their annual review that you understand these issues and can put an intergenerational wealth strategy in place that will secure and grow the wealth of them and their loved ones for future years.

The Quilter solution

Quilter is the new name for Old Mutual Wealth.

Since 1979, we've been supporting financial advice professionals like you.

This year we have invested significantly into our platform upgrade, to help you build more valuable relationships - moving forward together. A key part of the improvements has been to make it easier for advisers to incorporate true intergenerational planning with a full range of age specific ISAs and other products and better value for clients with family linking of accounts.


Click here to find out more about our new platform and ongoing commitment to advisers just like you.


*The research was commissioned by Quilter and undertaken by YouGov Plc, an independent research agency. All figures, unless otherwise stated, are from YouGov Plc. The total sample size is 1,544 UK adults, comprised of 529 Baby Boomers, 501 Generation Xers and 514 Millennials. Fieldwork was undertaken between 07/07/2020 - 08/07/2020. The survey was carried out online.


View Quilter's legals here

More on Adviser tips

Quilter said potential candidates should "monitor business production and embedded client contact and sales strategy".

Quilter hunts for regional financial planning managers to monitor 'sales strategy'

'Sales management' a key responsibility

clock 20 October 2021 • 2 min read
 "We are delighted to welcome the teams from Charter Financial Planning and Rice Whatmough Crozier to the One Four Nine Group," said  Matthew Bugden, chief executive officer of the Group.

Private equity investor backs national IFA launch

One Four Nine Group launches with two acquisitions

clock 19 October 2021 • 2 min read
PFS president Sarah Lord was reappointed in September.

'Status quo no longer an option': PFS board reacts to CII consultation

PFS board to take three steps

clock 15 October 2021 • 2 min read


Advising business owners: Who 'owns' the SME client relationship?

Advising business owners: Who 'owns' the SME client relationship?

Relationships built on trust

Jenna Brown
clock 21 October 2021 • 7 min read
Is cashflow modelling a necessity for adviser firms?

Is cashflow modelling a necessity for adviser firms?

Cashflow modelling has become a crucial financial planning tool for many firms, but with every convert, there is a critic. Georgie Lee asks: what are the actual benefits of a cashflow planning strategy to an adviser?

Georgie Lee
clock 05 October 2021 • 5 min read
How much? The crux of adviser firm charging models

How much? The crux of adviser firm charging models

'Wide variety of fee combinations'

Melanie Boulton
clock 13 October 2021 • 8 min read