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The unprecedented estate planning opportunity Because everyone needs a plan
Purpose of Today
Providing you with practical information on the why and how of maximising a significant commercial opportunity to grow your business with Estate Planning and Yodal
Why?
Large amounts of wealth is changing hands
Australia is on the verge of the largest intergenerational wealth transfer in history. $3 Trillion dollars is estimated to change hands in the next 10-20 years Media Release Perpetual Private December 2019
Advice is the Key
Estimated 70% of wealth will be lost in the next generation 90% will be lost in the second generation Media Release Perpetual Private December 2019
56% of Australians do not currently have a Will in place 53% of parents have not discussed their Will and legacy with their children Media Release Perpetual Private December 2019
Greater need to differentiate yourself
By the end of Q2 2020, the adviser population reduced to 21,631. A net decline of 1,198 advisers (5.2%) from Q1 2020.
This was 80% higher than last quarter and represents a 21% annualised decline. Adviser Ratings August 2020
Increasing Demand
48% of people have unmet advice needs Superannuation Industry Customer Satisfaction Report 2019
How?
Advisers ‘generally’ Know the importance of estate planning View it as ‘peripheral’ to your core business Treat estate planning as a ‘value add’ Make mention that it needs to be done / reviewed OR Refer your clients to a lawyer Feel like they need more knowledge than you actually do Concerned about initiating the conversation Don’t have a dedicated service offering
Business ‘generally’ Promote a ‘service’ but not a defined ‘product’ Have limited fulfillment capability Lack a dedicated process / resources Do not embed estate planning into their client journey map No ability to measure / manage the ‘service’ if delivered Do not maximise the secondary benefits of EP Pass-on your client relationships with little / no reciprocation
Yodal fixes ALL of that Solutions company based in Brisbane Dedicated Estate Planning solution – not just tech Compliant (FASEA / ASIC / TPB) / Secure / ISO20001 Generates new revenue ‘Off risk’ service offering Lawyer agnostic Implement with ease Fully supported
Example
Yodal is the right solution Independent Review (February 2020)
✓ Specialist Estate Planning Lawyer ✓ Social Media Influencer in Estate Planning ✓ Prior Co-Founder of a competitor product
Only 1 of 2 products recommended without any qualifier or condition.
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