How to overcome it: Demonstrate a commitment to a shared professional ethos, including:
• Clear boundaries
• Transparent communication
• Regular updates in areas where you can collaborate
• Respect for legal processes and timelines
Set expectations from the beginning, ensuring smoother and more predictable professional relationships.
3.“ We don’ t understand what financial planners actually do.”
The concern: The legal and financial professions often use different language and frameworks. Many solicitors assume that financial planners are primarily investment managers – or that the advice overlaps or conflicts with legal work.
How to overcome it: You can provide solicitors with:
• Educational guides explaining financial planning concepts
• Joint CPD sessions for both professions
• Plain – language resources that outline where legal and financial advice complement each other
• Clear explanations of boundaries between regulated financial planning and legal services
This builds mutual understanding and demonstrates how multidisciplinary work strengthens client outcomes, rather than complicating them.
4.“ We don’ t have time to manage another professional relationship.”
The concern: Solicitors often face heavy workloads and tight deadlines. Building professional relationships – particularly across disciplines – can feel time-consuming and operationally demanding.
How to overcome it: A law firm that is already engaged with a financial planning firm clearly demonstrates they are a firm that understands the value in collaborative working.
Identify what makes you different and why you should be on a solicitor‘ panel’ of advisers:
• Professional Accreditations or association memberships – SOLLA, STEP or Resolution
• Specialist qualifications such as ER1 or CF8
• Industry Alliances – Financial Vulnerability Taskforce Charter( Solicitors can join as well)
• You can provide soft skills training not just technical
This focuses their attention on what you bring to the table, while still delivering high-quality client outcomes.
5.“ We’ re not convinced our clients even need financial planning.”
The concern: Some solicitors fail to recognise or simply overlook when a client requires financial planning guidance – or mistakenly believe that the client will handle it on their own. Principle 7 of their Code of Conduct clearly states they‘ must act in the best interests of each client’. Therefore, if they identify a need for financial advice but do not refer the client, how can that be considered acting in the client’ s best interest?
How to overcome it: Help them identify exactly where legal and financial matters overlap, such as:
• Estate planning
• Divorce settlements
• Business succession
• Personal injury settlements
• Property transactions
Demonstrate to solicitors how you can provide support in these areas, such as cash flow modelling and assist them to spot when regulated financial advice is needed – empowering them to protect their clients from risk while enhancing the value of their own service.
Turning objections into opportunities
The concerns solicitors raise about referring to financial planners are valid – but they are also solvable. Sometimes, it’ s simply the case that the law firm and the financial planning firm do not align well. Thus, performing comprehensive research and due diligence on the law firms in your area to ensure that you‘ partner’ only with those suitable for your clients, is a key initial strategy. Improving your grasp of regulations, even in a minor way, will boost your reputation and position your firm at the top of the list when a solicitor looks to refer their client for financial advice.
You can contact me at pat @ sifa. co. uk or my direct line is 01372 847935.
April 2026 | 11