The Stellar Asset Management team has been active in the estate planning market for well over 20 years, and we understand the challenges and barriers that advisers face when supporting their clients in the area of specialist inter-generational wealth transfer.
The entire estate planning process incorporates many more factors than may have been considered in the past, and greater consideration has to be given to a multitude of circumstances that may affect the legacy being left for loved ones – including taxation, property inflation, legislation, health and later life care.
This also comes at a time of unprecedented demographic change and wealth transfer, with some £1.2 trillion expected to be passed through the generations between now and 2030. Inheritance tax receipts are still increasing, which indicates that individual legacy planning activity leaves much to be desired. In short, individuals are not receiving best advice from the industry, which could have helped them to avoid high levels of inheritance tax liability.
Taking all of this into account, it’s clear that a multi-disciplinary approach to planning is essential – especially where advisers are supporting clients that have large or high value estates and/or complicated family relationships. In these situations, it is essential that advisers become the architects of the entire estate planning process – bringing in specialist partner organisations to support clients across complex areas such as:
- Tax Advisory
- Legal Services
- Estate Planning
- Later Life
- Funeral Services
To address these challenges, we launched Stellar ICENI in 2019 – with the aim of empowering financial advisers to deliver a wider and more all-encompassing service, and therefore add value to what they already offer for their clients. This award-winning framework provides a collaborative, multi-disciplinary approach to estate planning, helping investors to maximise tax-efficient inter-generational wealth transfer.
This holistic approach also helps to avoid conflicting situations arising, when separate elements of the estate planning process are handled in isolation, by different service providers.
Listen to what one of our adviser partners has to say about the benefits that working with Stellar ICENI provides for their clients.
Why the name ICENI?
ICENI is derived from the Brittonic word ychen (Echen) which is defined as ‘lineage, family, source, origin’.
An award-wining framework
In December 2019, Stellar ICENI won the coveted ‘Education Initiative of the Year’ award at the Investment Week Tax Efficiency Awards 2019/20. This clearly demonstrates the positive benefits of a collaborative partnership approach to estate planning – for investors, financial advisers and specialist partners.
Through its existing ICENI collaborations, Stellar has already partnered with organisations that provide support and advice to financial advisers and investors in the area of inter-generational and inheritance tax planning. These are classified as Advisory Services, which include wider estate planning services – and Complementary Services, which include carefully chosen ‘lifestyle’ services to support advisers and investors.