Quilter Cheviot launches HNW divorcee financial support service

Quilter Cheviot has launched a service designed to support financial advisers and their high net worth (HNW) clients after divorce proceedings.

The HNW wealth management division of Quilter said the Beyond Settlement Divorce proposition was developed to address the low take-up of financial planning and investment management services during and following a divorce.

It will aim to facilitate collaboration between advisers and investment managers, taking an ‘emotionally and vulnerability-informed' approach to addressing a client’s financial needs post-divorce.

Investment strategies will be tailored to a client’s life after divorce, reflecting a typical combination of needs, income requirements, and timeframes while utilising cash or near-cash solutions, short-term bond strategies, and long-term discretionary investment management.

The proposition is aimed at HNW clients, typically with more than £1m of investable assets.

Quilter Cheviot worked with The FPOD Academy, which specialises in divorce financial planning, and a divorce coach to develop Beyond Settlement Divorce and provide training for its investment managers.

As part of the proposition, Quilter Cheviot has launched a range of fixed-price pre-settlement advice services aimed at family law specialists to provide financial insight during the divorce process.

“Divorce can feature some of the most consequential financial decisions a person will make, yet not enough people are getting the specialist support they need,” commented Quilter Cheviot managing director – distribution, proposition & marketing, Michelle Andrews.

“We want to close that gap with Beyond Settlement Divorce and offer investment management in tune with financial planning and other specialists supporting clients that help them adjust to life after divorce.

“Family finances in divorce are inherently complex, and financial understanding and control are seldom evenly distributed between spouses. Financial advisers are ideally placed to help clients establish their financial futures and introduce further technical expertise where needed.”

Quilter Cheviot family wealth business development manager, Erin Florendine, added: “Financial confidence often takes a real knock during divorce, and traditional wealth management simply isn’t built around that experience.

“Our specialist team brings together strong technical expertise with an emotionally aware, vulnerability informed approach, helping financial advisers support their clients to visualise what their finances need to look like moving forward.

“This means advisers can enable their clients to engage with their finances in a much more meaningful way.”

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