Over the last 10 years, there has been a reduction in access to financial advice by clients. Access to legal service has increased while access to financial advice access has decreased. Also, the number of lawyers exceeds that of financial advisers and this can be a great problem. As a result, many people do not understand their financial position.
Our law firm understands that professional advice is important for all. There is no denying that technology has played a great role in helping most law firms perform their job. However, the challenge of decreasing financial advisers due to age and retirement is still an issue.
The only way to deal with this problem and ensure that our clients get access to financial advice is by collaboration. Both the lawyers and financial advisers should collaborate together to help clients understand their financial position. Although we cannot fully offer enough financial advisers, this collaboration is needed in the future.
Over the years, more employers are taking the lead when it comes to the financial welfare of their employees. The collaboration will come in handy to help employees understand their financial position including their compensation and benefits package.