As succession planning and wealth transfer continue to move higher up the agenda for many families, access to reliable technical support and efficient administration is expected to become increasingly important for advisers using trusts as part of long-term client strategies.
Aberdeen Adviser has launched a dedicated Trust Service on its Wrap platform to support financial advice professionals as the technical and regulatory complexity surrounding trusts continues to increase.
The service has been developed to help advisers use trusts more effectively within client planning by providing specialist expertise and practical support across the full trust lifecycle.
Key benefits of the Aberdeen Adviser Trust Service include:
- Specialist technical support from a dedicated trust team focused on complex trust planning
- Support with trust establishment and documentation to help advisers navigate documentation and administrative requirements
- Guidance on appropriate trust solutions within wider financial and estate planning strategies
- Ongoing administration support to help advisers manage regulatory and reporting obligations once trusts are in place
Trusts remain a longstanding and widely used tool within financial planning. Advisers frequently use them to support intergenerational wealth transfer, manage inheritance tax exposure and protect assets for future generations.
However, the legislative and regulatory environment surrounding trusts has evolved significantly in recent years. Changes to trust registration requirements, increased reporting obligations and growing scrutiny around tax planning mean advisers must now navigate a far more detailed technical landscape when trusts form part of a client’s strategy.
At the same time, the scale of intergenerational wealth transfer is increasing. Some projections suggest that up to £7 trillion* could pass between generations in the UK by 2050. As succession planning becomes more prominent within financial planning conversations, the importance of trusts and the technical expertise needed to implement them effectively continues to grow.
Andy Zanelli, Head of Technical Engagement at Aberdeen Adviser, said: “Trusts have been part of financial planning for a long time. The challenge today is that they have become more complicated because of the regulations and paperwork that now surround them.
When advisers are helping families cascade wealth between generations, the technical detail can create significant friction in the process. Our aim is to help remove some of that complexity so advisers can focus their time where it matters most, which is working with clients.”
The Trust Service has been designed to provide advisers with both technical support and operational efficiency. By assisting with trust set up and administration, Aberdeen Adviser aims to reduce the practical burden on advice firms while helping ensure structures are implemented correctly.
Verona Kenny, Chief Distribution Officer at Aberdeen Adviser added;
“Our new Trust Service is a crucial part of our offering to advisers. The main benefit of this service is the expertise that our technical team provide alongside the efficiency we deliver. Establishing and managing trusts can be complex work for advice businesses. By stepping in to support that process we can take a significant amount of the hard work away.
The new team can help advisers set up the trust and provide access to the investment solutions available on our platform within the trust structure. That combination of technical expertise and investment capability creates a strong opportunity to support advisers and their clients.”
Aberdeen Adviser says the new Trust Service forms part of its wider commitment to supporting the advice profession with specialist expertise and practical solutions.
