Financial advisers and accountants can play a crucial role in raising awareness of improved digital legacy preparation.

Even though a large portion of Brits’ digital time is spent online, an astounding seven out of ten (71%) individuals who have a will have neglected to include any mention of their digital legacy, such as designating a reliable person to handle their accounts in the event of their passing.

Almost one-fifth (18%) of those who did mention their digital lives did so at the encouragement of their financial adviser or accountant.

In addition, almost half (48%) of those who had a will had not given their financial planner or accountant’s contact information to family members, which means that surviving family members may find it difficult to locate information about a deceased person’s online activities.

The importance of a digital legacy

According to SJP’s research, financial planners have seized on the role of assisting clients in understanding their digital legacy and making plans in the event of their incapacity or death.

Rather than bearing this burden alone, four fifths (80%) of individuals who received assistance felt it beneficial to speak with someone about the process of handing over their digital legacy.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Furthermore, eight out of 10 (80%) think their planner made the task of dealing with their digital legacy more manageable.

In addition, 84% of advised clients report that financial planners have encouraged them to think about elements of their digital legacy that they might not have otherwise.

Furthermore, more than half (43%) of individuals is using their planner to handle the responsibility of maintaining their digital footprint as part of their overall financial strategy.

Eddie Grant, director at St. James’s Place comments: “As our research has shown, financial planners can help to not only alleviate some this burden, but also offer food for thought, and highlight areas of your digital legacy which you may not have considered having to pass on. Having an expert there to walk clients through digital legacy plans can be a considerable help, for individuals and their loved ones.

“Therefore, it’s important that clients connect their financial planner or accountant with their loved ones or trusted individuals, so they can contact them in the event of your death or incapacitation as this is one of the non-financial benefits of advice. Often, we see many people fail to pass over details of their planners, which unfortunately adds an additional layer of distress during an already difficult time.”