British wealth manager Quilter has introduced an initiative to help advisers deliver a comprehensive service to whole families.

The move builds on the observation made by the firm that advisers are exploring options to grow their business to provide family wealth management solutions.

Under the new family wealth initiative, advisers will have access to a set of webinars as well as events and technical assistance.

These will enable advisers to find out the behavioural features of each generation and the impact of such features on the relationship between the clients and money.

Advisers will also be able find ways to assist families to plan together and achieve additional benefits.

In addition, the initiative will outline plans for developing next generation, self-renewing family books on behalf of clients.

It will offer improved expertise for tax, later life and intergenerational planning.

Furthermore, the initiative will help advisers with substitute business proposals and calculate the value of family asset consolidation under Consumer Duty rules.

According to Quilter, the initiative will be in operation from late September to next year.

Quilter director of commercial and propositions David Tiller said: “With spiralling inflation and the cost-of-living crisis putting immense strain on individuals and their finances, the importance of the family unit has never been greater.

“In adversity, families pull together, and we want to help advisers facilitate this from a financial perspective, ensuring each family member is put in the best position possible.  

“The term ‘family office’ is associated with the ultra-high net worth, but in recent years we have seen advisers across the country begin to build modern-day family offices as they broaden and deepen their trusted relationship with their clients’ next of kin.”