13 February 2008
Recent research carried out by Winterthur suggests that pensions and divorce financial planning will be a main area of growth for IFAs in 2008, with 94% looking to increase business in this field.
Winterthur recently hosted a series of pensions and divorce workshops throughout the UK to provide information on this growing specialism for IFAs, and discovered that a massive 94% of those asked are looking to expand their business in this area.
With around 148,000 divorces granted in the UK between 2005 and 2006, it is usually the marital home that is the highest value asset and primary focus. Second to that are pension benefits, a fact that increasing numbers of divorcees are becoming more aware of, which is leading to the increasing demand for this service.
Through its research, Winterthur also discovered that in order for IFAs to further develop this area many felt that they required additional practical advice to understand the complex divorce processes. 75% of IFAs reported that this need has now been addressed as a result of the Winterthur workshops. They also benefitted from a better understanding of how to assist family lawyers.
David Thompson, managing director, sales & marketing, AXA & Winterthur Wealth Management says: "Pensions and divorce can be a complex subject combining the legality of the divorce procedure with the reality of having to sort out the finances of the parties involved. The financial planning process needs to address both the immediate and long term need. It is also a great example of how professionals can work together and utilise their specialist knowledge."
The workshops were considered a huge success, with 92% of attendees rating them as 'good', and reporting that they left with a better understanding of the processes from the lawyers' perspective. The workshops also highlighted how important this specialist area is in building client relationships, which is crucial given that the desire to grow this business area has increased year on year since 2005.
The pensions and divorce workshops are the latest in a long line of informative workshops and road shows delivered by Winterthur to continually update and inform IFAs, with a combination of expert presentations and interactive sessions using real-life practical examples.
Continuing with the trend of providing useful and educational forums for discussion, Winterthur has also developed the Chambers conferences, which are run throughout the year and have been developed to help build professional partnerships between advisers, lawyers and accountants, and provide an opportunity for discussion on areas of mutual interest.
Interested advisers are recommended to contact the Professional Edge Team on professional.edge@winterthur-life.co.uk for information on future workshops and Chambers conferences.
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For further information:
Paul Riddell Winterthur Life, Press Office +44 (0)1256 798099
Becky Holmes Winterthur Life, Press Office +44 (0)1256 798310
Christine Wood FD +44 (0)20 7269 7253
Notes to Editors
Chambers conferences
Building professional partnerships is vital for IFAs, and Chambers conferences can provide a forum between financial advisors, lawyers and accountants to discuss the various issues they face.
The next event takes place on February 21 2008 at Woburn Abbey, contact professional.edge@winterthur-life.co.uk for full details.
Winterthur Life UK Ltd
An AXA UK company, Winterthur Life UK Limited is a specialist producer of wealth management solutions to the nigh net worth marketplace. .
Winterthur Life UK Limited provides focused investment and retirement solutions and support services predominantly distributed through quality IFAs as part of AXA Life's AXA & Winterthur Wealth Management business proposition.
The company is recognised as having an innovative approach to financial products and its products feature simple, transparent charging with access to a wide range of carefully selected investment funds and fund managers via its Tailored Selection fund platform. Winterthur is also differentiated in the market through its focus on service excellence, which was reflected in the company winning Company of the Year and two Five Star service awards at the Financial Adviser Service Awards 2007.
www.winterthur-life.co.uk
AXA
AXA UK is a part of the AXA Group. AXA Group is a worldwide leader in Financial Protection.
AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. For full year 2006, IFRS revenues amounted to €79 billion and IFRS underlying earnings amounted to €4,010 million.
The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA.
Our previous company performance is not a guide to how we may perform in the future.
Any opinions expressed in this media communication are made as at the date of this publication but are subject to change without notice.
