Law firm Regulatory Legal in partnership with Peter Jones, former chief executive of UK Wealth Management, has set up a legal services company that allows advisors to become partners in the business.
The new entity, Private Client Solicitors, became authorised as an alternative business structure by the Solicitors Regulation Authority on 1 July.
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The new entity will offers a range of legal services packages to support financial planners such as wills, trusts, probate and lasting power of attorney.
The services to the IFAs will encapsulate both legal advisory and wealth management services.
Private Client Solicitors will partner with chartered financial advisors rather than directly targeting clients and provide financial advisors with packaged legal solutions for their clients.
To cutback the changes of duplication and enhance the accuracy credentials, the new business model will use software to construct the documents.
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