Once you’ve generated that client lead, it’s important to ensure you are not only providing the client with the right advice but also that you’re maximising your opportunities as an estate planning consultant, by identifying other needs for your client. Here are 6 ways to maximise your profits and truly take care of your client. If you want more ideas for growing a successful business, then make sure you download and read the "Step By Step Guide To Becoming An Estate Planning Consultant" for up to date insights, ideas and suggestions.

1. Explore all options relevant to the client

The first thing to do is to discuss the various options that may be available to your client. Take the time to understand not only their financial situation but also their family structure and their overall unique situation or preferences. Commonly, clients will often start with the statement ‘I only need a simple Will’ and whilst that may be true in a few instances, we all lead complex lives for which a simple will may not be the best solution.


2. Discuss Trust options

Where there are added complexities such as second marriages, blended families, vulnerable beneficiaries or other concerns that need to be addressed, will trusts or even lifetime trusts could be a consideration. It’s certainly not unusual for property trusts, discretionary trusts or vulnerable persons trusts to be appropriate. Do keep in mind that trusts are the basis of the very fabric of modern society (think about property ownership and mortgages for example) and contrary to popular belief, they’re not just for the rich and famous but indeed for many of us.


3. Don’t forget Lasting Powers of Attorney

Often something of a poor relation to Wills, considering what may happen to our affairs should we need additional support or become incapacitated is vitally important. Many people give some thought to what would happen to their assets in the event of them passing away, but less consider the issue of mental or physical incapacity and the practical issues that can arise as a consequence.

Powers of Attorney

4. Widen your scope beyond your immediate client

When supporting a client to get their affairs in order, there are always other people involved in that planning. Think executors, trustees, guardians or witnesses – do these people understand what their roles actually are? Have they got their own affairs in order? Can you assist with the Will signing and meet these people and explain their roles to them? You’ve got a fantastic opportunity to help a great number of additional people as a consequence of assisting your initial client contact.

5. Don’t be shy, ask for referrals

If you’ve provided your client with a great service and they are happy with the help you have provided, don’t be shy in asking them to recommend you to their network of contacts. Recommendations to friends and family will go a long way in helping to grow your business. You’ll be surprised how many people need your valuable guidance and creating a ‘recommend a friend’ incentive will be a very effective way to spread the word about your services.


6. Schedule regular reviews

Your clients will need your ongoing support as their personal circumstances change such as marriage, divorce, children or indeed receiving an inheritance themselves for example. You should always stay in contact with your clients to ascertain if their existing will planning still meets their current circumstances. Tax laws and other legislation can also change from time to time which will have an impact on clients personal planning so it’s important that you encourage your client to keep in touch.

There are always opportunities as an estate planning consultant, for you to deliver a great service to your clients and to maximise every engagement point. You just need to be open minded and willing to go that extra mile for your client and for your business.

The Ultimate Guide To Becoming An Estate Planning Consultant