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Financial Planning NexGen launches estate and succession planning services for IFAs

NexGen launches estate and succession planning services for IFAs

IFAs can tie up with NexGen to provide estate and succession planning services to their clients.
Nishant Patnaik Dec 12, 2016

NexGen, a joint venture between American Academy of Financial Management and CCC Will Effect, has launched estate planning and succession planning services for IFAs.

IFAs can expand their offerings by tying up with NexGen to provide estate and succession planning services to their clients.  

This platform is expected to provide end-to-end estate planning solutions, covering the entire gamut from simple wills, customized trusts and bereavement advisory services. In addition, this platform would enable financial intermediaries to expand their bouquet of services by including the entire spectrum of estate planning solutions and tools including an estate planning audit, will services, business succession solutions, special structures for protecting minor/special children and trustee and executor-ship services.

Ravi Dole of Will Effect told Cafemutual that IFAs can register with them by paying an annual fee of Rs. 5,000. He said that they will update IFAs with the latest developments in the estate planning and succession planning services.

Regarding the fee charged from clients for this service, Dole said that the charges will depend on the complexity of the case. IFAs can generally charge between Rs.15,000 and Rs.40,000 per client.

Further, Dole said that there will be a revenue sharing arrangement with IFAs based on the complexity of case. “While some cases can be handled easily, we have to put a lot of effort in complex cases. This revenue sharing can be in the range of 30%-50%.”

There is a lot of ignorance about nomination and succession, especially among retail investors. In fact, the gravity of this ignorance could be gauged from the fact that in the equity asset class alone around Rs 1,100 crore of unclaimed dividend is lying with 1,406 companies, said a press release issued by the company. 

The situation is no different in the real estate category as 66% of all legal cases are related to property-related litigations followed by family matters at 10%, as per a survey conducted by an NGO-Daksh.

In the press release, Dileep Choksi, Mentor, Will Effect has said, “Succession is one aspect of commercial and personal living which attracts the maximum legislation and personal law. It takes into account changing social norms of which one has to be aware. Succession through estate planning is beyond writing a will and getting it probated till it is successfully executed as desired by the testator.”

“The service would go a long way in promoting and encouraging estate planning among average Indian households and thus minimizing the legal disputes that occur in the family post the demise of an individual. It will also pave the way for smooth transition of one’s assets and wealth as will writing and estate planning services become accessible to all,” said Vyas Rai Nagpal, Country Head at American Academy of Financial Management India.


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Robert Glen · 9 months ago

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase


I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen
Email: robertg.finance@gmail.com
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Felix Zeman · 2 months ago
Please read my provider's BG/SBLC Sale Transaction Procedure below and see if it will suit your requirements.


1.    Buyer submits Letter Of Intent (LOI) with full banking coordinates (there must be sufficient cash funds in this account), Enlarged 140% Colour copy of Passport , Client Information Sheet , Certificate of Incorporation (if applicable), Corporate Resolution (if applicable), Non-Solicitation Statement, and an Irrevocable Fee Protection Agreement .

2.    After conducting due diligence, the Seller will countersign the LOI and return it to Buyer including details of the BG Issuing bank, and Seller’s Passport copy. This LOI automatically becomes a full commercial recourse contract and will be notarized to avoid contract breach and Buyer will be required to take care of notarization expenses of the contract documents here in UK. After notarization of the contract documents here in the UK, both parties shall lodge the executed contract with their respective Banks.

3.    Within two (2) banking days, the Seller’s Bank shall send a PRE-ADVICE SWIFT MT199 or MT-799 to the Buyer’s Bank. (EXHIBIT A )  The PRE-ADVICE shall be valid for  four (4) banking days only.

4.    Within the same banking day, the Seller shall email a courtesy copy of the PRE-ADVICE SWIFT MT199 or MT-799 to the Buyer for confirmation. Within three (3) banking days after authentication of the PRE-ADVICE SWIFT MT199 or MT-799, the Buyer’s Bank shall reply and send a  SWIFT MT-799 to the Seller’s bank and a courtesy copy shall be sent  to the Seller’s email.

5.    Within three (3) banking days, after authentication of the Buyer’s SWIFT MT-799, the Seller’s BG Issuing Bank shall send the Bank Guarantee via SWIFT MT-760 to the Buyer’s Bank  ( EXHIBIT B ) and a courtesy copy shall be sent to the Buyer’s email. The Buyer’s bank verifies and authenticate the BG sent via SWIFT MT-760.

6.    Within three (3) banking days, after authentication of the BG sent via SWIFT MT-760, the Buyer shall send payment to the Seller via SWIFT MT-103 and concurrently pay Consultants commission fees of Two Percent of each tranche face value. Courtesy copies of the commission payments shall be sent to the respective consultants/beneficiaries and their paymasters.

7.    Within seven (7) banking days after authentication of receipt of payment to the Seller, the Seller’s BG Issuing Bank shall send the hard copy of the BG to the Buyer’s Bank  via Bank Bonded Courier.

8.    All subsequent tranches will be based on the same procedures until collateral or funds become exhausted.

9.    Any unauthorized calls by any party or its representative lawyers to probe or communicate in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.

10. Please, Ready, Study and Understand VERY WELL, we will work STRICTLY base on this Transaction Procedure.


Contact Me Via Email:- bfltd2011@gmail.com

I look forward to a mutually beneficial business relationship.


Felix Zeman.
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