More than half (51%) of advisers sought support from inheritance tax (IHT) specialists, research from Downing has found.
In a survey of financial advisers and wealth managers, 51% said they would value more help from specialist IHT providers.
Nearly all advisers (93%) said they collaborated with lawyers or accountants for expertise.
Downing’s research showed that 42% of advisers already received help from specialist IHT providers, and 50% worked with both accountants and lawyers.
While 40% relied solely on accountants, 3% worked only with lawyers, and 6% planned to collaborate with either in the future.
Over four out of five advisers (81%) employed specialists focused solely on IHT planning, and more than half (52%) believed their firms were very experienced with IHT solutions.
However, 45% described themselves as only quite experienced, with 3% admitting they were not very experienced.
Advisers felt clients were generally informed about IHT solutions, with 43% saying clients were well-informed and 49% describing them as quite well-informed.
Mark Dunn, head of retail sales at Downing, said: “IHT planning is growing in prominence as part of advisers’ workload and as part of their client base as more clients focus on tax efficiency.
“That is highlighted by how many firms employ specialists who only focus on IHT planning and the growing business relationships with lawyers and accountants to source further expertise.
“It also explains the demand from advisers for more support from providers of specialist IHT planning solutions.
“Providers need to work harder to ensure advisers receive the help they need.”
