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- Potentially big bankruptcy issues
- Things can go bad quickly as we saw with COVID-19
- Mum and Dad Directors – if there’s a divorce, the last thing you want to do is leave control to your ex if you’re incapacitated
Decision fatigue this time of year around JKP, staffing and working from home is common so we’ve ended this year with a bang by introducing our new Successor Director (SD) System!
Our new SD resources sit within our Core Pro Package and are available for free to ChangeGPS Members.
ChangeGPS is proud to announce a collaboration with Grant Abbott at LightYear Docs in the design of our SD System.
We’re experiencing the typical slow down at this time of year but February will ramp up fast – how do you keep your revenue up during this time?
We have created all the documents you need to help your clients protect their assets, estate plan and create trusts using ChangeGPS as the positioning piece and LightYear Docs provides the smarts.
Monetising deliverable advice
Grant Abbott is always thinking about the legislation and we love that.
Grant doesn’t just build docs; he builds a strategy and then identifies the docs required to do that and do it better with the concept of the ‘leading member’ line of succession to protect family wealth, so a complete level of protection is put in place that makes sure your interests are succeeded.
You have the relationship with your clients, but you have to be working with the right lawyer which is why LightYear Docs exists with the protection of Abbott & Morley’s legals behind it so your clients are protected.
The premise of our SD System sits within the auspices of the Corporations Act and is mandated by ASIC Guideline 73 (see our full SD System for references) so this is right in the wheelhouse for accountants because you deal with companies (it’s also risky if you’re not across this with your clients).
Here’s why the Successor Director System matters
It solves potentially big bankruptcy issues (things can go bad quickly as we saw with COVID-19) and for Mum and Dad Directors enduring a marital breakdown, the last thing you want to do is leave control to your ex if you ever become incapacitated!
EPOAs have been promoted as a way to protect a family if something bad happens, but they often don't. That's where our SD System comes in. Tell your clients you just found out about it, and watch them switch on their love for you by in five easy steps:
- Understand the laws and how you should respond
- Review the Constitution to put a relevant authority for SDs in place
- Explain triggers for appointing a SD as well as exposure to risk coming across as a SD
- Easily generate the documents you need using ChangeGPS and LightYear Docs and achieve the right approach to clients using our VPP methodology
- Set up a LightYear Docs account
Don’t assume what your clients want or what they’ll pay. We are our own worst enemies when it comes to pricing, so deploy the SD System on yourself first! Every one of us is exposed so step up and just get it done this weekend.
You’re doing your clients a disservice if you don’t offer this or at least make them aware, and you don’t have to do this high-level work for nothing. ChangeGPS gives you the skillset to do this type of work.
And our 5 steps are key – straightforward and easy with our VPP approach in place which derisks your firm and allows you to get the work done fast. ChangeGPS gives you everything your team needs to monetise your service including pricing examples, client emails, advice templates and delivery process.
Need to keep cash flow coming in over the summer slowdown? Offer the Successor Director System to your clients – now in ChangeGPS Core Pro https://changegps.com.au/apps/core. If you’re not yet a ChangeGPS Member, jump onto our new website and book a demo with Leo today.
The plans we’ve outlined for 2021 are so exciting. Have an unbelievable summer, a safe break and see you next year!
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