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How are UK advice firms planning for the end of lockdown?


‘Face-to-face meetings will quickly become the exception rather than the norm’
It is an industry built on personal relationships and face-to-face meetings; but covid-19 has pushed the financial advice sector to catch-up with the rest of the world.
While some back office functions have warmly embraced ever-improving technology, there has not been a similar wholesale rush by advisers. This is likely driven by their clients being older and less tech-savvy.
But firms have had to adapt to the restrictions that the pandemic placed on them and the majority have not only coped but actually thrived in the “new normal”.
Thankfully, with the NHS’ tremendous vaccination effort, the UK is near the end of its long lockdown – but are firms ready for the UK to be unlocked? ....

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You can change a loved one's will AFTER they die to help family


An increasing number of families are changing the wills of their loved ones after they pass away in order to help younger family members whose finances have been hit by lockdown. 
Families are using a legal document called a deed of variation which allows them to alter the beneficiaries of a will. It can also help to dramatically reduce inheritance tax bills. 
Paul Campion is a chartered financial planner at Succession Wealth. He says: We have seen a jump in the number of families wanting a deed of variation in the past year. This is due to an increase in unexpected deaths of older family members due to Covid.  ....

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