At Ardent, our hope is that every client feels their financial plan is helping them achieve their goals and maintain their desired lifestyle. We also want you to feel confident about coming to us with any concerns about your wealth.
Hopefully, after working with us, you recognise the value of the service we provide.
Yet, many people are apprehensive about seeking professional advice as they don’t know what to expect. Often, people do not trust somebody else to make recommendations about their wealth either.
That’s why referrals are so valuable to us, because they may alleviate some of the fears that potential clients have about financial planning. Additionally, putting a friend or family member in touch with Ardent could benefit you just as much as them.
Read on to learn why.
Referrals build trust and confidence
Those who have worked with a financial planner typically understand the benefits and feel that they are more likely to achieve their life goals.
Unfortunately, there is still a level of distrust among those who have not received professional advice.
Indeed, according to New Model Adviser, only 45% of people surveyed said they trust financial advisers to act in their best interests. Additionally, 59% said they did not have confidence in the financial services industry as a whole.
As a business, we can communicate the benefits of financial planning to potential clients, but it may be difficult to build trust in this way if people have preconceptions about the industry.
Fortunately, when you refer your friends and family to us, they can rest assured that we will act in their best interests. By explaining the benefits that financial planning has brought in your own life, you can put their mind at ease.
Ultimately, this means our relationship with them is built on trust and confidence.
Financial planning could help your loved ones achieve their goals
You likely want your friends and family to achieve their goals and live their ideal lifestyle. Unfortunately, if they do not have a financial plan, this may be more difficult.
As reported by FTAdviser, the Nucleus Retirement Confidence Index asked people how confident they were that they would reach their retirement goals. It found that people without a financial plan reported an average confidence score of 4.6 out of 10.
Conversely, those who had taken financial advice had an average confidence score of 7.
So, if you have friends and family who do not have a financial plan in place, referring them to us could help them achieve their financial goals and build confidence. The results of our most recent client survey support this.
When asked whether they felt we understood their needs, goals, aspirations and objectives, 100% of our clients said yes. Most importantly, 97.87% said we helped, or will help them achieve those goals.
You may discover opportunities for intergenerational wealth planning
Considering how you will pass wealth to loved ones could be an important part of your financial plan. You may want to find ways to financially support those close to you too.
Referring family members to Ardent could help considerably here because it creates more opportunities for intergenerational planning.
For instance, you may be exploring lifetime gifting as a way to pass wealth on to your adult children while mitigating a large Inheritance Tax (IHT) bill in the future. You might think that a cash gift is the obvious solution. Yet, your child may benefit more from a regular contribution to their pension.
We could discuss this with both parties and find the most tax-efficient ways to pass on wealth, while also working towards your long-term goals.
Intergenerational planning is also beneficial in other areas of estate planning. For instance, it may be useful for you to discuss a Lasting Power of Attorney (LPA) and wills with your ageing parents or communicate your own wishes to your family.
Ultimately, having discussions with the entire family could mean that we are able to find solutions that support everybody’s goals. We can also ensure that the family is protected against unexpected circumstances.
A financial planner is a trusted source of support for the whole family
There are several situations in life when your whole family might need support from a financial planner. For example, when somebody passes away, you may need guidance with estate planning or how to manage inherited wealth.
Alternatively, a family member might face financial troubles or go through a difficult divorce that affects their financial situation.
In these circumstances, it’s incredibly valuable to have a trusted source of support that the whole family is familiar with. This may be more beneficial than each family member working with a different professional, especially during a difficult situation like the loss of a loved one.
Additionally, when we work with multiple members of the family, we may have a better understanding of the wider situation. It could also mean that everybody feels more comfortable coming to us with problems.
The Ardent charity referral scheme supports York Against Cancer
You and your loved ones could benefit in numerous ways if you refer them to Ardent, and you have the opportunity to support an important charity too.
Through our charity referral scheme, we make a £50 donation for every new meeting that comes from a referral. This is true even if the person does not become a client.
The charity we have chosen to support is York Against Cancer. This local charity offers vital support to those living with cancer.
To date, we have raised over £1,000 through the charity referral scheme, allowing York Against Cancer to continue their incredible work in the community. Each time you put a friend or family member in touch with Ardent, you contribute to that total.
Get in touch
If you know somebody who may benefit from our services, please feel free to put them in touch with us.
They can contact us at hello@ardentuk.com or call 01904 655 330. As an award-winning financial advice company that was a 2022 VouchedFor Top Rated firm, you can be sure that we’re a bona fide company providing excellent advice and high-quality service.
Please note
This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.
The Financial Conduct Authority does not regulate estate planning, tax planning or will writing.
A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future results.
The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts.
