Solicitor and Financial Planner collaboration

Solicitor and Financial Planner collaboration

Your solicitor can collaborate with a financial planner to help you make informed decisions and achieve the best possible outcome for you.

The merits of this professional collaboration can apply to divorce proceedings as well as business partnership separations.

The important part to note is that access to a financial planner on such occasions, can lead to significant benefits.

Establishing trust and rapport

Your solicitor can arrange for you to meet the financial planner together, in order to connect and establish trust.

You can then feel comfortable asking questions and discussing your concerns with both the solicitor and financial planner.

You’ll feel more empowered and more in control of your life almost immediately.

Expert financial insights

At the meeting, you can share information about your assets, income, and expenditure in confidence. The financial planner will then understand your situation.

In any separation, including divorce, complex circumstances are often involved. This can be perplexing unless you have a background in finance.

You’ll be able to make sound decisions, however, because your financial planner can make sure you are well-informed.

Expertise, early on in proceedings, is exactly what you need. When you understand your options and the financial terminology surrounding them, you can make decisions that will be in your best interests.

Expertise to empower you

Breakdowns, in a marriage or a business partnership, can be emotionally taxing. You could be left feeling overwhelmed and uncertain.

Your solicitor can help you through this challenging time by providing you with legal expertise and empowering you to take an active role in decision-making.

Your financial planner brings another perspective to the table. With their help, you will gain a clearer understanding of your financial future.

This combination of expertise and being able to regain control helps to counter-balance the sense of feeling overwhelmed.

Cashflow modelling makes sense

Your financial planner will use cashflow modelling to make sense of your income, expenditure, and potential financial scenarios.

Cashflow modelling addresses concerns about spending limits, the need to return to work, access to further education or retraining, and housing affordability.

In some cases, a financial planner might push for a higher settlement, especially when the client is the primary carer for young children.

Solicitor and financial planner roles

It’s important to recognise the distinct roles solicitors and financial planners play in these cases.

Financial planners, working collaboratively, focus on the client’s financial well-being within the separation process.

Solicitors focus on helping clients make informed decisions to do with the separation process itself. This includes exploring different methods of dispute resolution, such as mediation or collaborative processes, to determine the best approach.

While your financial planner can contribute to dispute resolution, it’s your solicitor who ultimately determines the best strategy for you.

Getting collaborative support

In conclusion, the collaboration between a solicitor and financial planner brings significant advantages if you’re going through a divorce or the breakup of a business partnership.

With access to expert financial insights, you’ll be able to make well-informed decisions, despite any emotional distress.

Collaborating in this manner, your solicitor and financial planner can help you achieve outcomes that will better secure your future.

KEY CONTACTS

James Ballantyne

Principal

Sidnee Jennings

Associate

AREAS OF EXPERTISE

SHARE

Facebook
Twitter
LinkedIn
Email