If you work in family law, you’ll understand the huge emotional toll that divorce takes on your clients. As the rug gets swept out from underneath them, clients often struggle to make decisions about their settlement and their future.
As divorce financial planning specialists, we see the transformative effect that professional finance advice can have on people navigating divorce. From feeling uncertain and overwhelmed, they start to feel more confident and hopeful about the future. By working in an interdisciplinary model with family lawyers, we’re able to financially educate clients while offering them the emotional support they need to move on with their lives. We’re also able to make the entire settlement process more streamlined, timely and effective.
Here are just some of the reasons family lawyers should refer their clients to a financial adviser pre-financial settlement.
Financial planners have the know-how to gather comprehensive financial data in a relatively seamless and stress-free way. Our live-feed data means no more back and forward to get current balances every time you want to revisit “the spreadsheet”.
In the divorce process, data collection can be extremely time-consuming and it’s vital to get it right. We make it easy for your clients to provide you with a clear, current and comprehensive picture of their financial position.
We are both professionals who want to ease the burden our clients are facing, before, during and after divorce. We go beyond gathering financial data to help clients understand what their lifestyle costs now and what it will cost in the future.
Through lifestyle analysis, we ask questions like – What did the client spend on (insert expense) in the past? What will they be able to afford in the future? What won’t they be able to afford and how can we help them adjust? Through this process, your client will likely discover that what they want is different to what they need.
We also test various settlement scenarios and analyse the outcomes. This helps your clients make confident decisions during their divorce negotiations. It also helps them budget for the future and eases their concerns about post-divorce life.
When your clients are feeling overwhelmed and emotionally exhausted, they’ll find it hard to make decisions. This can delay the divorce process and add to the stress, trauma and cost that they incur. Using a technique called the ‘decision-free zone’ we organise and prioritise decisions by urgency. The decisions that need to be made ASAP are tackled first. And the decisions that can wait are put on the back-burner.
This not only reduces your client’s stress levels, it ensures that they stick to your deadlines and keep things moving from a legal perspective. Put simply, it helps you get the job done without delays.
When you need your car fixed, you go to an auto mechanic. And when it’s time to do your tax return, you contact your accountant. Every professional has their area of expertise. For you, it’s family law. For us, it’s divorce financial planning.
While we work on the complex financial issues your client is facing, you can work on negotiating the best possible settlement outcome. An outcome that minimises any risk to your client’s wellbeing and long-term family relationships.
While there are many highly qualified and efficient financial planners in Australia, only a handful are Certified Financial Transitionists®. A CeFT®, like me, has undergone an additional year’s training to be able to understand human transitions and offer the emotional support clients need to navigate unsettling life events.
Financial transition planning acknowledges that there are two sides to effective money management – the technical and the personal. By addressing both, we are able to more holistically support clients as they learn how to manage, not just the finance and legal side of things, but the major life change.
Being the best in your field means always searching for new ways to improve the client experience. Referring your clients to a financial planner and working as part of an interdisciplinary team has a multitude of benefits. It’s a win-win-win – for your practice, for ours, and most importantly, for your clients who are going through the toughest of times.
Let’s chat about how we can collaborate to ease the burden of people navigating divorce.
Please get in touch or encourage your clients to book a 20-minute complimentary Connect Call to find out what we’re all about. We also invite you to view our comprehensive financial planning packages and find out more about financial transition planning.
While I have decades of experience in financial services, I believe in leading with compassion rather than a calculator. As the Managing Director of Jurson Advisory, I empower busy professionals to make smart decisions before, during and after divorce. With the support of an expert team, I resolve any complex money matters so you can take charge of your finances and grow more hopeful and excited about the future.
Prior to setting up Jurson Advisory in 2015, I enjoyed a successful career as a Director at Goldman Sachs JBWere and a Senior Investment Adviser at Macquarie Bank. My desire to combine expertise with empathy, led to me qualifying as a Certified Financial Transitionist® and pioneering a new approach to divorce financial planning in Australia.
When I’m not financially empowering people through their divorce, you’ll find me gardening and spending time with my family in the idyllic Macedon Ranges.
Aynsley Jurson and her company, Jurson Advisory Pty Ltd (ABN 53 605 826560) are authorised representatives of Fitzpatricks Private Wealth Pty Ltd (ABN33 093 667 595), holder of an Australian Financial Services Licence (AFSL No.247 429).
The information is of a general nature only and does not take into account the objectives, financial situation or needs of any person. Before acting on the information, investors should consider its appropriateness having regard to their own objectives, financial situation and needs and obtain professional advice.
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