" This creates both an opportunity and a responsibility for financial planners."
turns to when major life events occur.
A retirement planning discussion may lead to conversations about wills and lasting powers of attorney. Bereavement planning can highlight the need for probate support. Business succession conversations often uncover legal requirements. Family changes, property transactions and trust planning all create situations where legal expertise becomes essential.
The research suggests that when clients need legal support, they place enormous value on specialist expertise. Indeed, 92 % of consumers said that a legal professional specialising in the area of law they needed would increase their trust. Similarly, 91 % said that regulation would increase their confidence in their chosen adviser.
This creates both an opportunity and a responsibility for financial planners.
Clients increasingly want advisers who can help them navigate a wider professional ecosystem rather than providing financial advice in isolation. When planners can confidently introduce trusted legal specialists, they are helping clients overcome uncertainty and access expertise they may struggle to identify themselves.
Importantly, the research also highlights that consumers who feel they have choice and confidence in their provider experience better outcomes. Satisfaction with both service and outcomes is markedly higher among those who believe they had meaningful choice when selecting their adviser.
A carefully considered introduction from a trusted financial planner can play a significant role in giving clients that confidence.
Professional connections create business opportunities
The benefits extend beyond improving client outcomes.
Strong relationships with legal professionals can deepen client relationships, demonstrate added value and position the planner as the coordinator of a client ' s wider professional affairs.
The research shows that consumers value expertise, communication and trustworthiness above most other characteristics. They want professionals who can explain complex issues clearly, demonstrate specialist knowledge and operate within a regulated environment.
These expectations apply just as much to financial advisers as they do to solicitors.
" Referrals are a two-way street, so when a trusted relationship is established, it adds value to both fields while ultimately helping the client."
By introducing clients to trusted legal professionals, planners reinforce their own position as a central source of guidance. Clients often remember not just the advice they receive, but the problems that were solved for them. Facilitating access to high-quality legal expertise can therefore strengthen loyalty and improve retention.
There is also potential for mutually beneficial professional relationships. Solicitors and legal experts often meet clients seeking financial guidance on retirement planning, pensions, investments, inheritance tax strategies, and transferring wealth between generations. Referrals are a two-way street, so when a trusted relationship is established, it adds value to both fields while ultimately helping the client.
The role of SIFA Professional
Of course, recognising the value of professional partnerships is one thing; building them is another.
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