In a series of Supporters in Focus pieces, we are thrilled to introduce our supporters of The British Wills and Probate Awards 2021
Alongside headline sponsor Executor Solutions we look forward to recognising achievement, highlighting progression and championing innovation.
Today we profile Innovation of the Year sponsors Ampla Finance.
We’re delighted to have Ampla Finance on board with the fourth year of The British Wills & Probate Awards. First of all, tell us who you are and what you do
Ampla Finance is a specialist finance provider. We offer two types of loans aimed at the Wills and Probate Sector. The first is our Executor Loan – this is primarily used for the payment of Inheritance Tax or settling estate liabilities (including the repair/renovation of a property within the estate). The loan is based on the value of the assets in the estate. The second is our Beneficiary loan – it can be used for any purpose and is based on the value of a future inheritance.
What have Ampla Finance been doing over the past 9 months since The British Wills & Probate Awards 2020?
We’ve been ensuring our loans work in the best way possible for both our end customers and our law firm partners. We are continually reviewing what we do and how we do it to ensure the application and underwriting process is as simple and efficient as it can be.
What do you think is the biggest challenge the sector has faced over the last 12 months?
For the sector as a whole, delays in obtaining probate and sheer workload have clearly been hugely challenging. For us, one of the biggest challenges is raising awareness that the types of loans we offer are even possible. They are a relatively new concept and many of the law firms we now work with originally said they did not know the option was available. Many customers who have come to us directly have commented they were unaware how accessible loans of this nature were until they spoke to us. Raising awareness will be a key focus for us over the next 12 months.
And what innovations were you seeing in the market?
Ever increasing pressure from clients to wind up estates as quickly as possible is starting to lead to increased digitisation and attempts to streamline processes. However, providing exceptional client service is vital. Process efficiencies need to support and enhance a personal approach, not replace it.
The loans we provide do exactly that. By providing an innovative solution to funding issues, the firms we work with have found them to be an important value-add.
What are your predictions for the sector in 2022 and beyond?
It’s going to be a busy year! More cases, more pressure on clients to settle estates quickly and probably more frustration at delays. But, this brings with it more opportunities for firm’s to deliver outstanding client service and to enhance their profile and reputation.
We very much look forward to working with all our partner firms to help them achieve this.
Have you got any messages for the sector and our shortlisters?
Congratulations! It’s been a tough year for everyone and this is deserved recognition for all your hard work and creativity.
Thank you to Ampla Finance for their support for The British Wills & Probate Awards 2020.
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