Over the last eight years they have provided more than 300 000 clients with Wills and indemnified over R 70 billion in fees that arise during the estate administration process, which has aided them in gaining invaluable experience and insight into consumer needs and trends.
“When we looked at the home-buyers’ market, two key things stood out for us. Firstly, the entire process is relatively complicated and cumbersome for the client, and secondly, the financial advisor, who is trusted by their clients to facilitate and advise on their investments and plan their legacies, is excluded from the purchase of one of their clients biggest assets,” explains Brandon Garbutt, Managing Director of Capital Legacy.
Capital Legacy drafts more than 6 500 Wills for new clients every month and is trusted by more than 4 500 financial advisors countrywide, firmly entrenching their position as the leading provider of Wills in the country and affirming their tagline of “Leave a Legacy”.
“This puts us in a unique position to see how people approach their financial planning and their succession,” says Garbutt. “We work closely with advisors and their clients and our aim is to ensure that the clients’ legacies are secure, and the unexpected cost of dying is planned for.”
More often than not, the cornerstone of people’s legacies for their family is property. It therefore makes sense that the purchase of property should be closely aligned with their long-term financial planning goals and that the best deals are secured – just like with any investment.
Challenges identified in the home-buyer’s market
- Financial advisor excluded – The current bond origination process excludes your trusted advisor and forces you to engage with organisations that may not be aligned to your financial plan.
- Multiple points of contact – The current process forces you to deal with multiple people at almost every step from conveyance attorneys, bond providers, short-term and long-term insurance providers, etc.
- Succession planning – Clients often forget to review their Last Will and Testament and Estate plan to reflect their new property investment because they have engaged with 3rd party companies that are not aligned to their financial planning goals.
Solution – HomeVantage™
“The solution to the shortcomings currently being experienced by both clients and financial advisors is actually quite simple. Firstly, the financial advisor needs to be included in the process, and secondly the entire process needs to be simplified for the client, making it a more enjoyable experience,” says Garbutt. “We’ve pulled the entire process together under one roof, with one point of contact and can now help clients from beginning to end – and offer competitive rates and benefits through this simplified model.”
Benefits of using HomeVantage™
- You are assigned a single point of contact, specialist consultant, through whom all the necessary products and services are secured – the bond, homeowner’s insurance, life insurance to cover the bond, property transfer, registration with the Deeds Office, and most importantly, ensuring your Will is up to date to reflect this life-changing event and that any impact to your estate planning is accounted for.
- Your advisor is part of the process ensuring your financial planning goals are aligned with your asset purchase and estate planning requirements.
- Receive up to 50% of your bond registration and transfer fees back through the Home Starter Benefit that pays out directly to you and can be used for anything from buying new curtains to covering your moving company costs.
- The Bond Accelerator Benefit pays out to you after 15 years to help settle your bond sooner.
- Benefit from competitive interest rates through Capital Legacy’s HomeVantage™ origination.
HomeVantage™, from Capital Legacy, not only provides a professional, integrated and uniquely comprehensive solution for the home-buyer but also ensures that you get the best rates, offers valuable benefits and importantly, includes your financial advisor when purchasing one of your biggest investments. HomeVantage™ will be available from the 1st of October 2020.
For more info on HomeVantage™ and other new products launched, visit: www.capitallegacy.co.za/articles/capital-legacy-shakes-up-the-south-african-financial-services-industry/