Thesis Asset Management is launching a service that seeks to bridge an underlying client’s relationship with their lawyer, financial planner and investment manager.
The service, which will be available for free for intermediaries, was built after Thesis spent the last 12 months talking to law firms about how they could help them to provide a less transactional relationship with clients. In light of this, Thesis has launched a service for lawyers to help them to provide a strategic financial plan for clients.
Lawrence Cook, director of business development at Thesis, said: ‘The lawyer is often asked by clients about big important issues such as estate planning, wills, gifting, and trusts. By helping the client to see how all of their financial picture works for them, the lawyer is in a position to offer more effective advice – and will probably end up doing more work for the client.’
The new service includes strategic financial planning, setting out scenarios, such as retirement or gifting, with an annual review that is managed by the lawyer and brings the financial planner back in when appropriate.
‘It means the financial planner becomes integral to the private client service of the lawyer – over time he can’t do it without him,’ he explained.
He also anticipated financial planners, who provide Thesis with the majority of new business, could see referrals as a result.