Fourth Brewin Dolphin conference reveals risks when family solicitors give pensions advice

• Single joint expert highlights risks when family solicitors give pensions advice
• No-fault legislation could cause divorce spike in September 2021, say experts

The risks of giving pensions advice, the effect of the new no-fault divorce legislation and the impact of Brexit on international divorce cases were all on the agenda as over 600 family lawyers attended Brewin Dolphin’s recent Family Law and Wealth Conference.

Now in its fourth year, the Brewin Dolphin conference, which is a key event in the diaries of lawyers across the UK and focuses on divorce and wealth management, took place digitally for the very first time. It featured three days of presentations by speakers from Brewin Dolphin and external experts.

Matt Sullivan, head of professional services at Brewin Dolphin, said:
“Brewin Dolphin specialises in all things divorce and wealth management.  Our conference attracted such a large audience thanks to the first-rate line-up of presenters from the family law profession.  We covered leading topics such as Owens, Villiers and Brexit as well us launching findings from two recent surveys about divorce and finances. 

“We believe the event showcased our wealth management expertise in the area of family law and demonstrated how we bring crucial value to financial remedy cases. Live chat at the online conference about the risks family lawyers take when giving financial advice showed how increasingly important the issue of specialist wealth management advice is to family lawyers and when, without it, practitioners expose themselves and their clients to unnecessary risk.”

Conference highlights included Philip Marshall QC discussing the landmark case of Owens v. Owens. George Mathieson, single joint expert for pensions on divorce, talked about the risks of family solicitors giving their clients pensions advice without seeking expert help. Charlotte Wright, Brewin Dolphin investment manager, revealed the results of a nationwide survey about the impact of no-fault divorce legislation. Guy Foster, head of research at Brewin Dolphin, said the survey results could indicate a delay of as many as 25,000 to 30,000 divorces until September 2021. Lisette Dupre, partner, and Professor David Hodson OBE discussed the likely impact of Brexit on international divorce cases.

Conference summary:

• DDS Act 2020 – Philip Marshall QC, who represented wife appellant in the case of Owens v Owens before the Supreme Court, discussed the landmark case which shall forever be associated with the Divorce, Dissolution & Separation Act 2020. 
• PAG One year on – George Mathieson, Single Joint Expert for pensions on divorce, discussed the risks of family solicitors giving their clients pensions advice, instead of engaging a financial adviser. Recent Brewin Dolphin survey results show that clients regularly ask solicitors for regulated financial advice rather than go to financial advisers.
• PIAM Explained – Jo O’Sullivan, mediator, explained the need for pensions expertise at an early stage in the divorce process. Carla Morris of Brewin Dolphin explained how complex pensions can be and how benefits are accumulated and received in so many different ways.
• Case Law – Joseph Rainer, barrister from QEB chambers, summarised the significance of three cases concerning financial remedies where pension apportionment needs and pension apportionment reasons were addressed.
• State of the Nation – Charlotte Wright, investment manager at Brewin Dolphin, referred to results of a Brewin Dolphin-commissioned survey which revealed that 25% of people planning a divorce would wait for the DDS Act 2020 before starting proceedings. Guy Foster, head of research at Brewin Dolphin, said the survey results could indicate the delay of many as 25,000 to 30,000 divorces until September 2021.
• Financial Abuse – Jenny Beck, solicitor and partner at Beck Fitzgerald, provided guidance to solicitors on how to identify and manage clients who may suffer from financial abuse and pointing out that even financially astute people can fall victim to the effect of economic abuse. 
• Villiers v Villiers – Michael Horton, barrister, Coram chambers who represented the appellant in the Supreme Court, and Anne Hall Dick, Scottish mediator, discussed the significance of the case which considered which court – English or Scottish – should decide maintenance disputes on separation or divorce.  The presenters explained the difference between the approach of the two nations.
• Brexit – what next for family lawyer? Lisette Dupre, partner, and Professor David Hodson OBE discussed the implications of the UK’s departure from the EU on international divorce cases and what practitioners should do to secure their client’s position in international cases before the new year.

PRESS INFORMATION

For further information, please contact:
Richard Janes: richard.janes@brewin.co.uk / Tel. +44 (0) 20 3201 3343
Anita Turland: anita.turland@brewin.co.uk / Tel: (0) 20 3201 4263
Payal Nair: payal.nair@brewin.co.uk  / Tel: +44 (0) 20 3201 3342
Camarco: brewin@camarco.co.uk / Tel: +44 (0)20 3757 4980

NOTES TO EDITORS

Disclaimers: 

• The opinions expressed in this document are not necessarily the views held throughout Brewin Dolphin Ltd.
• Past performance is not a guide to future performance.
• The information contained in this document is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness.
• Please note that this document was prepared as a general guide only and does not constitute tax or legal advice. While we believe it to be correct at the time of writing, Brewin Dolphin is not a tax adviser and tax law is subject to frequent change.  Tax treatment depends on your individual circumstances; therefore you should not rely on this information without seeking professional advice from a qualified tax adviser.
• Brewin Dolphin is authorised and regulated by the FCA (Financial Services Register reference number 124444).

About Brewin Dolphin

Brewin Dolphin is a UK FTSE 250 provider of discretionary wealth management. With £46.7* billion in total funds, it offers award-winning personalised wealth management services that meet the varied needs of our clients including individuals, charities and corporates.

We give clients security and wellbeing by helping them to protect and grow their wealth, in order to enrich their lives by achieving their goals and aspirations. Our services range from bespoke, discretionary investment management to retirement planning and tax-efficient investing. Our focus on discretionary investment management has led to significant growth in client funds and we now manage £40.6* billion on a discretionary basis.

Our intermediary business manages £14.2* billion of assets for over 1,700 advice firms either on a discretionary basis or via our Managed Portfolio Service.

In line with the premium we place on personal relationships, we’ve built a network of 33 offices across the UK, Jersey and Dublin, staffed by qualified investment managers and financial planners. We are committed to the most exacting standards of client service, with long-term thinking and absolute focus on our clients’ needs at the core.

*as at 30th June 2020