When it comes to estate planning and administration, secure document storage and transparent pricing can make all the difference.
In this case study, John Carrick from John Carrick Wealth Management shares his experience of working with Kings Court Trust (KCT) to protect clients’ most important documents, provide fixed-fee estate administration services, and deliver outstanding outcomes during emotionally challenging times. From preventing issues like lost Wills to ensuring clients receive regular updates throughout the probate process, this partnership demonstrates how KCT supports Financial Advisers in building trust, strengthening client relationships, and growing funds under wealth management.
How do you work with Kings Court Trust regarding document storage?
I had a client whose Will had been stored by a local Solicitor for over two decades, and the Solicitor had charged an annual fee for this. The client’s Executors and beneficiaries were horrified to discover (upon his subsequent death) that the Solicitor had somehow lost the Will. I now make reference to this instance whenever I am talking to prospective KCT clients, and I explain the storage facility that KCT offers.
The peace of mind clients enjoy by knowing how securely KCT stores their most important documentation is invaluable. The process of storing documents via the KCT portal is also extremely straightforward for me and my clients, and we have a number of clients whose Wills, Powers of Attorney documents, and so on, are now stored in this way.
"Clients derive peace of mind that SJP has, just like they do with fund managers, completed a formal and exhaustive due diligence on Kings Court Trust."
How have you found the Kings Court Trust pricing structure?
My clients are very much aware of how much I get paid for looking after them; I have to demonstrate that I am worth this, and I always waive my referral fee to KCT. This is my choice, but I get paid well already, and I've found that waiving my fee creates further goodwill.
We have all heard stories of Solicitors charging a percentage of the estate value or an hourly rate. I currently have a client whose mother passed away. Despite a comparatively modest and very straightforward estate to administer, the fees that have been charged and, unfortunately, continue to be levied (due to the Solicitor being a professional Executor for the estate) are vastly disproportionate to the estate value. The deceased’s total estate value is £850,000. Fees incurred to date approach £15,000. By contrast, explaining the KCT ‘menu system’ and accompanying charges on a fixed-fee basis creates certainty, clarity, and comfort for prospective clients.
"I know that as a result of my referral and in turn KCT delivering an excellent client outcome, I have every chance of not only maintaining, but growing my funds under management with the client in question."
Tell us about a case where Kings Court Trust has helped you and your clients.
One of my most cherished clients passed away last year. Her husband, a retired Colonel, through attending one of my client seminars and meeting with the Head of Partnerships at KCT, engaged them to organise his wife’s estate.
Her estate is quite complex. To date, the service offered has been excellent. My client has been dealt with extremely efficiently, probate has been applied for, and throughout the time in question, my client has been provided with regular updates by a Personal Estate Manager who also copies me into the correspondence. My client knows at every point what progress has been made, and their Personal Estate Manager also indicates future timescales so that my client’s expectations are managed appropriately.
He cannot speak highly enough of the service he's received so far, and I know that as a result of my referral, and in turn, KCT delivering an excellent client outcome, I have every chance of not only maintaining, but growing my funds under management with the client in question.
Partner with us
This case study highlights how Kings Court Trust and Financial Advisers can work together to build a mutually beneficial partnership. More specifically, it demonstrates scenarios in which KCT helps Financial Advisers build trust, maintain relationships, and grow funds. As part of Kings Court Trust’s customer-first strategy, we provide regular updates to both our clients and partners.
To learn more about working in partnership with Kings Court Trust, and how to offer your clients and their families award-winning probate and estate administration services, get in touch by emailing BDteam@kctrust.co.uk or calling 0333 303 9000.
