Facilitating proactive collaboration between your IFA, Solicitor and Accountant to ensure you have the most efficient and effective strategies for building wealth and managing your affairs.
Financial, tax and legal matters are becoming increasingly more complex as we find ourselves in a fast-changing world. Typically, it’s down to everyone to coordinate their own affairs, which takes a lot of time, effort, money – and occasionally frustration!
The core approach and strategies emanating from each professional are obvious, but increasingly, there is a degree of overlap, particularly around matters such as Inheritance Tax. The Law Society are actively encouraging Solicitors, for example, to engage more with Independent Financial Planners on the back of the pending pension changes.
The problem, particularly when there are a lot of moving parts, is that you may end up with, unintentionally, contradictory advice. This often requires you to decipher everything and as it’s so difficult to pick your way through all the options, it can mean that you defer just to the core advice, or even inertia.
We strongly believe the optimum strategies are achieved by professional services working together in a coordinated manner. Not only will you end up with an improved and more efficient overall strategy, and one that you can have the utmost confidence in, but you will likely save time and money because of the efficiency of this collaborative service.
As Financial Planners, we know that we are perfectly placed to facilitate a collaborative service, partly because of how we work with our focus on the bigger picture and a laser focus on helping clients live the life they really want. The foundation of our approach is our financial planning tool, which creates a landscape and map of the future. This helps your Solicitor and Accountant understand and glean perspective. Once the planning tool has been built, Blue Sky will present to you and fine-tune your optimum plan.
With your permission, Blue Sky will then communicate with the chosen Solicitor and Accountant and then present your cash-flow to them to explore the best way of delivering on what you want to achieve, leaning on their expertise as well as our own. We then host a presentation with all parties present, either face-to-face or remotely.
Once it has been agreed on the way forward, each professional sets about their work. On completion of all works, Blue Sky will deliver a short report, stating what has happened and why.
There is an upfront fee for this service amounting to £5,000. If a situation is particularly complex, then we may need to negotiate a greater fee, but only in extreme circumstances. To be clear, this money will be used to pay for the other professionals’ time and expertise in the planning stages. We aim to arrive at the point where they can implement the agreed strategies quickly and efficiently. This initial fee does not pay for the implementation of advice, which is charged separately.
If time is precious, and you would prefer someone else to coordinate your financial affairs more effectively, then the Concierge Collaboration Service might be just what you are looking for.
