Clients often come to professionals with problems that don’t fit neatly into one discipline.

For instance, divorce often involves multiple financial considerations as well as legal issues. Estate planning involves tax and investments as well as wills and trusts. And selling a business can affect everything from succession planning to retirement income.

From a client’s perspective, each life event is a single experience. Yet legal and financial advice is typically delivered separately, despite the issues being closely connected. This can mean that clients are left to join the dots between different conversations themselves.

Joint client meetings offer a way to change that. Bringing solicitors, financial planners, and clients together can help create a more coordinated experience and give clients more confidence in the decisions they make. It also gives professionals a clearer picture of the client’s circumstances and helps them spot issues they might otherwise miss.

Read on to find out how joint meetings can transform the client experience.

Working in isolation can lead to gaps

When professionals work separately, communication can become fragmented. For instance, clients may find themselves repeating the same stories and circumstances to multiple advisers or relaying information between meetings.

Even if advisers later communicate via email, important details may be misunderstood and there may be opportunities missed through delays in communication.

This isn’t typically due to poor advice. Rather, it’s because of advice being delivered in separate conversations outside a shared context.

If clients are already dealing with significant life events, this can add unnecessary stress and complexity to an already challenging situation.

A joint meeting can be beneficial for both clients and professionals

A well-coordinated joint meeting allows everyone involved to work from the same information and towards the same goal.

For clients, that often means a simpler and more holistic experience. They can hear their legal and financial considerations discussed together, understand how the two practices complement one another, and leave with a clearer understanding of the next steps.

For solicitors, joint meetings are an opportunity to understand the client’s financial circumstances and goals. Meanwhile, financial planners can understand the legal issues regarding a client’s situation, which enables them to offer recommendations that are practical and feasible.

This can help save time for the advisers, limit the number of intermediary communications, and reduce the chances of crossed wires.

Joint meetings could be valuable in several situations

While collaboration can be beneficial across many areas, there are several situations where joint meetings are particularly valuable.

Divorce and separation

Meeting together during divorce proceedings allows solicitors and financial planners to discuss the long-term implications of different settlements, so clients can understand what is legally achievable and financially sustainable.

Estate planning

Estate planning typically requires a client’s legal documentation to align with their wider financial goals. Joint meetings can help ensure their will, trusts, and other strategies are all working together.

Business sales and succession planning

For business owners, the sale or transfer of a company raises multiple legal, tax, and financial planning questions. Bringing advisers together can help create a cohesive strategy before any key decisions are made.

Inheritance

Joint meetings after clients receive an inheritance can help them understand their options, manage their tax liabilities, and make informed decisions about how to use their inherited wealth.

Supporting vulnerable clients

Clients experiencing bereavement, illness, or cognitive decline may find it particularly difficult to manage conversations across multiple advisers. A collaborative meeting can simplify communication and reassure clients that professionals are working together for their best interests.

Taking steps beforehand can help make joint meetings more effective

Like any professional meeting, preparation is key.

Before the meeting, advisers should agree on its purpose, identify key decisions to be discussed, and share relevant information in advance, with the client’s consent.

During the meeting, it’s a good idea to avoid complex jargon and make space for clients to ask questions, enabling a more productive discussion.

Finally, agreed next steps should be documented and shared to help ensure everyone leaves with the same understanding.

Get in touch to help deliver a better client experience

Clients rarely think about their legal and financial affairs as separate issues. They simply want clear advice to help them make decisions at important moments in their lives.

So, as client situations continue to become more complex, joined-up advice has the potential to become one of the defining features of an outstanding client experience.

To find out more about how we can work together for the benefit of our mutual clients, get in touch.

Email info@blueskyifas.co.uk or call us on 0118 987 6655.

Please note

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.