Welcome to the first feature episode of our brand new segment, Financial Planner Life – Fintech.
Where we bring to you the latest innovative technology changing the landscape of financial planning for advisers and their clients.
In this episode our host Sam Oakes is joined by Ben Mason the CEO of Kinherit a Wills and Trust company that have built an online platform called ‘The Kinvault’ that protects clients and their wealth, reduces distress for families upon the death of a family member and allows timely support from the clients Financial Adviser.
This technology is solving problems that advisers will experience during the great transition of wealth. By 2027 it’s expected that wealth transfer will nearly double from
The current levels of £69 billion to £115 billion every year!
The Kinvault is a propriety technology built from scratch in order to protect the clients wishes (i.e. the person needing a will) help the Executor perform their role and thus support the beneficiaries by minimising asset leakage, risk and delay. Where a client has a financial adviser, the adviser can be notified to ensure wealth transfer in a seamless way.
Financial Advisers often experience a number of pain points during this process, and with the Kinvault, Kinherit are solving some of these problems for financial advisers, such as.
1, It is common for a Financial Adviser to find out about a client’s death only after AUM has started to be withdrawn, despite the financial adviser being treated in life as one of their clients most trusted advisers.
2, it’s hard to find a reputable STEP qualified Will Writer who sees the giving of best advice as objective (rather than simply looking to charge by the hour and secure lucrative probate)
3, Clients who only partly disclose assets to the adviser, leaving out pots of wealth that may seem inconsequential to a financial advice business, but which could simply be lost behind a computer password upon death.
It is worth adding that the Kinvault provides the full range of End-Of-Life Planning options (eg pet instructions, home care, utilities) and not just the financial planning (via the asset vault)
The client takes comfort from knowing their Financial Planner, will be able to support their loved ones and help them to manage the inherited money. Real peace of mind that what they would want to happen can and will happen.
The Financial Adviser knows that an introduction to Kinherit will strengthen their relationship with their client, introduce a world leading service for Critical planning steps, and when the time comes receive a warm introduction to the family as the defecto trusted party for the estate.
Kinherit are on a mission to improve the quality of will writing and provide true 21st century services to solve the large and growing problem of wealth transfer in a complex predominantly- online age.
To book a demo with Kinherit, and to learn more about how you can offer the Kinvault for free to your clients, click here – https://recruitukltd.co.uk/fpl_tech/kinherit/