Winterthur Life UK has carried out a research that suggests that pensions and divorce financial planning will be a main area of growth for independent financial advisers in 2008, with 94% looking to increase business in this field.
Through its research, Winterthur has also discovered that in order for independent financial advisers (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 benefited from a better understanding of how to assist family lawyers.
David Thompson, managing director of sales and marketing for AXA & Winterthur Wealth Management, said: 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 utilize their specialist knowledge.