Spring Budget 2017 – Key PointsPosted in Fiducia News,
on 27.01.17 Read In the ‘last ever Spring Budget’ Chancellor Philip Hammond emphasised the Government’s commitment to business and...
At Fiducia we recognise that financial, legal and tax advice have generally been considered discreet practices in the UK. Each is conducted by professionals adhering to their own standards and qualifications, and answering to their own professional bodies, regulators and codes of conduct. But like other market sectors, these advice professions are facing growing pressures to build greater commercial resilience – to diversify and expand their business proposition, to create greater choice and compete on cost with larger, commodified suppliers.
Legislation such as the Legal Services Act (LSA) and the Retail Distribution Review (RDR) aims to improve competitiveness, introduce more client-centric business models and, in the case of the RDR, heighten levels of professionalism.
All these factors have sparked discussion about the potential for solicitors, accountants and independent financial advisers and financial professionals to work together more closely, to leverage each other’s client relationships and potentially provide clients with an enhanced experience and an integrated source of advice. Given the overlap between many areas of tax, legal and financial advice, a successful local network of experts working together is an approach fully supported by Fiducia Wealth Management.