Old Mutual International has rolled out a new Trust Decision Tool and Trust Form Finder designed to provide advisors with additional support and improved navigation.
The new tools will also make it easier and simpler for advisors to choose which trust to use.
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Available on the Old Mutual International website, the Trust Decision Tool will take advisers through a few simple questions before suggesting the most suitable trust for their customer’s circumstances.
The Trust Form Finder, which will be available on the company’s website in the coming weeks, aims to automatically select the required documentation for the customer and advisor based on which trust they select.
According to Old Mutual International, Trust Form Finder will mainly be useful in professional trust company cases, where there are a number of different legal documents that must all be completed.
Trusts, which operate as part of wealth management, are used in complex family situations such as forced heirship, avoidance of probate, or to mitigate inheritance tax liabilities and for the purposes of protection and control of assets.
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By GlobalDataFurthermore, Old Mutual International has developed a new trust hub, called the ‘trustability hub’ to further help and support advisors using trusts. The hub will include useful guides, videos and articles.
Old Mutual Wealth financial planning expert Rachael Griffin said: "Trusts are under-utilised, yet they can be a really powerful tool for advisers to use with their customers.
"Choosing a provider with a full range of trust options will help ensure the customer’s needs are fully met and assets are placed within the most efficient trust wrapper. The Trust Decision Tool combined with the Trust Form Finder will help to simplify our Trust proposition and help remove any barriers for advisers."
