Passing the baton is an appropriate metaphor to use in the closing weeks of 2012 and Dennis Hall used the occasion of his final branch meeting to hand responsibility for the London branch to Claire Menni, who takes over as the new branch chairman.
The topic for his final branch meeting was death and Dennis gave an impassioned presentation based on his experiences of working with widows. But before that Simon Skerratt of Aspinalls and his colleague, solicitor Emily Anderson presented two case studies showing the value that a Financial Planner can add when dealing with estates following death. The first case was particularly complex and is still ongoing. At the time of death the estate was worth several million pounds but with the wrong advice there was potential for the widow to lose virtually everything.
The second case study was less controversial but all too common. Keen to reduce any inheritance tax the surviving spouse wanted to give away as much money as possible.
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Through Financial Planning, and asking pertinent questions, the adviser was able to demonstrate why giving so much away was a risky strategy to take. The upshot of both case studies was to show how advisers can add real demonstrable value to lawyers dealing with estates and their beneficiaries.
In his presentation Dennis drew on several interviews with widows to show how difficult it is for them to make decisions or take action during bereavement. Too often he had found himself dealing with post-crisis situations and needed a way of raising the topic while people were alive. He shared stories he used with clients that had taken client engagement to a deeper level, reinforcing his role as his clients' 'Trusted Adviser'.
But all good thing must come to an end, and in his closing speech Dennis thanked UBS, the branch sponsor, the speakers who had unfailingly delivered their topics with enthusiasm and finally to the members who come to the meetings month in month out, because without them there would be no branch.
IFP chief executive Nick Cann said: "On behalf of the IFP, I'd like to extend our very big thanks to Dennis for his enthusiasm, energy and extremely positive contribution to the IFP's London branch over the past four years. He has set the bar so high that Claire certainly has a task on her hands to live up to it!"
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