IDR Law’s client, private-equity-backed FRisk, has now completed the Beta testing phase of its innovative web-based software service and, from Monday 29th June 2020, it will be available, not just to subscribers in the IFA, EAP and wills and probate sector, but also the general public by direct access.
What is FRisk?
FRisk (Family Risk management) is an innovative software solution, which provides users with a report of what would have happened to their estate and any dependents, had the user died or lost capacity yesterday without proper planning in place. FRisk aims to reduce distress and potential claims caused when a family member dies. The original concept was created by Martin Holdsworth, founder and owner of IDR Law, as a response to the increasing number of inheritance disputes where there were no wills present.
FRisk is designed to highlight the realities of an unplanned death on the family they leave behind – including arrangements for children, pets, asset distributions, claims likely, tax payable, digital estate assets, funeral costs and much more – the FRisk report then provides a series of recommended services to remove these risks and a “one click” link to service providers who will help to provide the security and safety the family needs.
FRisk is intuitive in use – taking less than 10 minutes from registration to the generation of a personal FRisk report, immediately giving the user access to a vetted panel of expert service providers for all their needs. It is free to use for any individual accessing it through a referring subscriber and £19.99 (inc VAT) for anyone coming to Frisk direct.
Martin comments on FRisk: “This is the culmination of almost 2 years of design and development by the FRisk team, who should be proud of what they have achieved – FRisk doesn’t provide legal advice but when you use the service, there will be no doubt if you are in need assistance to sort out your family affairs before it’s too late. FRisk is a great way for subscribers to introduce and resolve problems that exist because of the current intergenerational financial gap.”
Major launch Partnership!
This public launch coincides with the exciting announcement that FRisk has entered a launch partnership with Certainty – the National Will Register.
Under the terms of the arrangement, FRisk will be made available to any existing customer of Certainty, along with any visitor to their website. Certainty have secured reduced FRisk subscription terms for all their existing subscribers and a reduced FRisk fee for individual site visitors. Also, anyone using the FRisk service via Certainty, who needs a will and/or LPA, will be referred to law firms which are already members of Certainty’s existing panel.
Rob Brown, Co-founder of Certainty, the National Will Register, states – “FRisk is totally unique – I am sure that it will make inroads into its target of reducing the number of people without wills to below 50% – We are delighted to offer FRisk to our existing registered users and individual visitors to our website and expect to see the number of wills made and registered with us grow as a result. Being able to direct the will and LPA work generated by FRisk to our existing registered users will be a huge benefit to them and ensures that all the stakeholders’ interests are aligned. The additional charitable pledge by FRisk of 10% of profits to Grief Encounter is a fantastic idea for a deserving charity.”
Why become a FRisk Subscriber?
Subscription is a simple online process whether you are a small law firm or a national IFA network. Different subscription models, tailor-made for the type of company you are, ensure that the cost of accessing FRisk for you and your staff/employees/consultants, etc, is affordable and once in place is unlimited in terms of the number of FRisk reports that can be produced.
Once a FRisk subscriber, you can either let FRisk choose panel service providers for your clients (for wills, LPAs, funeral plans etc) OR you can choose which of FRisk’s panel service providers you would prefer – this could include your own company once you have registered as a FRisk Service Provider (Panel membership as a service provider is free but Frisk will vet all applications to ensure quality and service levels are maintained).
10% of all FRisk’s net profits go to the charity Grief Encounter, which supports bereaved children and their families. Subscribing to FRisk means you’ll also be supporting this amazing charity.
How can I find out more?
Whether you are law firm, will writer, EAP scheme provider, IFA network owner or just want to offer your customers and contacts access to FRisk, there is service version that will work for you – for more information on how FRisk works, becoming a Subscriber and/or a Service Provider on the FRisk panel, visit FRisk’s website at https://www.familyriskreport.co.uk/ or register your interest on our contact page https://www.familyriskreport.co.uk/contact-us.
You can also read our previous article on FRisk at https://idrlaw.co.uk/private-equity-backed-fintech-solution-frisk-beta-launches-into-the-wills-and-probate-sector/.
There is more information on using FRisk as an individual available on their new flyer: FRisk Public Flyer
IDR Law is an approachable, boutique firm and the only one in the country dealing solely with inheritance dispute resolution. Whether you’re a law firm, or an individual who feels they would benefit from our expertise, get in touch here, email us at [email protected] or call on 01423 637050.