Finanze Group partners with U-Plan Online to launch innovative estate planning finance service
Alastair Hoyne’s bespoke finance solutions company buys 50% of Cheshire estate planning firm to provide Bespoke later Life Planning Solutions
Finanze Group - one of the fastest growing companies in the specialist finance market - has acquired 50% of Cheshire estate planning firm U-Plan Online in a bid to provide personal, premium legacy support for property and business owners on a national scale.
The new entity, Finanze Legacy, will unite its property and business finance expertise under a single umbrella - ensuring property and business owners can bequeath to the next generation in a tax-efficient way and guarantee a real legacy is left for their family and inheriting parties.
Statistics show that most people in the UK are poorly prepared for later life and legacy planning. Many fail to get their affairs in order until it’s too late - leaving behind wills that don’t accurately reflect their wishes and ending up with unnecessarily large inheritance tax bills.
54% of adults in the UK do not have a will and 5.4 million do not know how to make one. Less than 1% have a Lasting Power of Attorney (LPA) - meaning 99% of the country have failed to appoint someone to help them make big decisions on their behalf.
As many as 1 in 3 people will also develop dementia in later life, potentially impairing their ability to put effective legacy plans in place.
HMRC processed a staggering £5.2 billion in inheritance tax in 2019/20 - and this figure may rise if people continue to pay far more than needed. The value of estate increased by £35 billion from 2009 to 2017 - and 58% of this increase was in residential property values alone.
Finanze Legacy has been set up to provide insightful support that empowers people with the knowledge and guidance they need to prepare effectively for later life without overpaying on tax - ensuring their partners, children, family and friends all receive what they should.
Alastair Hoyne, founder of Finanze Group, stated: “Finanze Legacy will truly aid anyone who is buying property and businesses to create a legacy and income for their children.
“We have always strived to provide the kind of property and business finance support you simply can’t get elsewhere, and our 50% purchase of U-Plan Online will give clients access to first-rate estate support from David and his team.
“Through Finanze Legacy, people can have conversations about whom they want to leave their assets to and how they can save tax in the process - with property being handed down effectively and efficiently.”
David Nicklin, co-founder of U-Plan Online, commented: “We have dealt with many clients over the years who don’t have wills in place suitable for their needs.
“The bottom line is that people aren’t clued up on later life planning - as a society we are reluctant to engage with it - but it’s what you don’t know that can hurt you.
“Inheritors can end up paying huge amounts of tax they didn’t need to, or go straight to a solicitor where they receive a huge bill. Simply put - basic wills don’t work anymore. At U-Plan Online, we specialise in professional bloodline planning, wills and trusts, and powers of attorney - which people need support with now more than ever.”
U-Plan Online’s values - wanting to support people on a human level - align with Finanze’s own brand of personalised bespoke services, making the two companies a perfect fit to push this new service.
Commenting on the partnership, David added: “Alastair is a big mover and shaker in the market and it will be great to partner with him to scale the business up and really help more people to invest in building their legacies.
“We remind clients that they worked hard to achieve their legacy - and so they should put just as much work into determining where that legacy is going to end up.”
Finanze Legacy officially launches on the 6th March, 2023.
For more information visit https://www.finanzelegacy.com
About Finanze Group
Finanze Group specialises in bespoke solutions for property finance, business finance, protection, insurance & legacy, education, technology, asset origination & prime lending for private and corporate clients.
Alastair Hoyne launched the company in 2021 - drawing on his background in investment banking, hedge fund management and strategic consultancy directorship to provide an institutional grade service to sophisticated private property investors and corporations.
Since receiving FCA approval at the end of September 2021, Finanze, the Group’s property finance arm has issued terms on over £1bn worth of property and Alastair Hoyne has been ranked in the Bridging & Commercial Power List, two years running in both 2022 and 2023 which highlights the influence he has in the market generally.
For more information visit https://www.finanzegroup.com
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