When we look for any product or service nowadays, we usually end up getting multiple quotes, comparing what is being provided and having a good hard think before taking the plunge.
Towards the end of last year, the IRN produced their annual UK Wills & Probate Market 2020: Consumer Research Report, which looks in depth at client behaviour when it comes to the wills and probate sector.
The report found that only 36% of the UK population (approximately 19m adults over the age of 18), have a will. And those who do tend to fall into the older age brackets.
However, what struck me the most is the top five things that clients look for when it comes to looking for a will writer, whether that be in a law firm, a solicitor or a specialist will writer. The top five most important factors, scoring over 90% in the IRN’s research were:
- Cost of service
- Quality of service
- Experience of the advisor
- Friendliness and helpfulness of staff
- Ease of preparing the will
Undoubtedly, we’d all know in our heart of hearts that cost would be a high factor, as that it the first thing clients can usually compare like for like with.
In 2020, 85% of clients revealed that they’d paid a fixed fee for their will, an increase on 2019 in which 81% revealed they had done the same. However, only 69% of people said the final fixed fee they’d paid had been quoted to them originally at the start, so some clients had experienced a little bit of wriggle room.
Cost ultimately plays a big role, as 60% of people surveyed admitted they would consider completing a ‘DIY’ will if it meant keeping costs down. However, the DIY will wouldn’t cover at least three of the five other factors which are also important to clients.
During the report, it was revealed that some clients who have begun to complete DIY wills, have then gone to a professional to finalise the will to ensure it does fulfil the client’s wishes.
However, removing the cost element, 50% of the other requirements are based on the human emotions and the way the client feels when talking to the person who they could eventually instruct to write down their final wishes. That personal touch hasn’t been diminished as a result of the coronavirus pandemic. In fact, in some ways due to the social isolation, consultations held over video calls could have had a huge impact on a client’s mental health as the loneliness of the pandemic continues to gnaw away at even the best of us. For some, a video call consultation with someone regarding their will may have been the most human interaction people have had for months on end.
Now that we have entered another national lockdown, don’t forget that your friendly and helpful attitude and confidence in the service you provide could really make or break someone’s day.
What do you think most people consider when looking for someone to help them complete their wills?
