What do financial planners and accountants have to do to meet the challenge of revenue loss resulting from government regulation and technological replacement of their customary roles?
Financial planners are only now starting to grapple with the government-inspired loss of trail commission and the rise of fee-for-service, while accountants must face the prospect that an automated ATO may make tax return preparation a thing of the past.
Advisors don’t have to look far for opportunities to maintain and grow their revenue. Targeting and perfectly servicing a new need within their current client base will not only provide growth but also open the door to a whole new generation of potential clients.
How? Estate Planning.
The ageing baby boomer demographic will shortly provide the greatest intergenerational transfer of wealth ever seen. Add to this fact that the circumstances in one family are never the same as another, with complex family structures and blended families, and it is clear that a one-size-fits-all solution is not possible.
Financial planners and accountants are uniquely positioned to take advantage of the estate planning upsurge this new era will present, particularly given their deep understanding of the client’s financial and personal situation.
To assist advisors, SUPERCentral and Townsends Lawyers have combined to develop an end-to-end estate planning solution that’s innovative, simple to use and designed to offset any possible risk to the advisor.
EPAdvantage™ is a comprehensive estate planning program open to astute advisors who intend to make estate planning part of their core client offering. It is a complimentary, value added program, providing members with professional support, PD training and the resources needed to grow a successful estate planning practice. EPAdvantage™ is not for the part-timer or casual user but rather for the committed advisor who has realised the potential for substantial revenue growth through estate planning.
“SUPERCentral’s recently released Estate Planning Guide and Testamentary Manual System gives advisors a technological framework to more cost-effectively guide their clients through the key issues that must be considered in the development of an effective estate plan and to provide them with a further competitive advantage. We have now released the second stage of this estate planning initiative, EPAdvantage™,” said Peter Townsend, principal of Townsends Lawyers.
Source: SuperCentral
