What would happen to your business if you were not there tomorrow?
The untimely death of a financial adviser can lead to catastrophic outcomes for an advisory practice, its owners and their families, staff and clients alike. The situation is intensified if the deceased adviser is the sole owner of the firm and worse still, if the single-owner holds their own AFSL.
But, if you are the sole adviser/owner/AFSL holder in your firm, there are some actions you can take now, to cushion the impact for all concerned, and to minimize the business risk and financial impacts, if the worst should happen.
Business Health works with practices to move beyond awareness and into structured, actionable planning – to ensure that in the event of unexpected death or disablement, there is clarity, continuity, and protection for all stakeholders.
Our approach is designed to support principals at every stage:
D i a g n o s t i c a n d R e a d i n e s s A s s e s s m e n t
We begin with a structured “What If…?” diagnostic, designed to assess your current level of preparedness and identify critical gaps. This provides a practical roadmap outlining the actions required to ensure your business can respond effectively when it matters most. (This is a useful stand alone tool and can be purchased on its own without any additional services.)
B u s i n e s s V a l u a t i on
An independent and up-to-date business valuation establishes realistic expectations of value and provides a solid foundation for succession planning.
S u c c e s s i o n & T r a n s i t i o n P l a n n i n g
We assist in the development of comprehensive transition plans, documenting the operational, client, and administrative steps required to ensure continuity. This includes clear guidance on how the business will be managed and ultimately transferred in the event of an unforeseen trigger event.
S u c c e s s o r I d e n t i f i c a t i o n a n d P a r t n e r M a t c h i n g
Through our network, we can facilitate access to qualified, value-aligned successors or partners, helping to ensure the right fit for your clients and your legacy. This includes screening, introductions, and support throughout negotiation.
L e g a l a n d S t r u c t u r a l S u p p o r t
Well-constructed agreements are essential. We support the development of buy/sell agreements and legal frameworks, working alongside your legal advisers (or through our network) to streamline documentation, reduce complexity, and minimise delays.
I n f o r m a t i o n M e m o r a n d u m a n d E x e c u t i o n S u p p o r t
A professionally prepared Information Memorandum (IM) provides a clear, confidential overview of the business, including client demographics, revenue make-up, staffing, and compliance considerations. This forms a critical component in any transition or sale process and supports informed decision-making.
B r i n g i n g I t T o g e t h e r
Ultimately, effective “What If” planning is about ensuring that there is a clear answer to the question “What happens next?”, for your clients, your staff, and your family. By taking a structured and proactive approach, principals can significantly reduce uncertainty, preserve business value and ensure continuity in even the most challenging circumstances.
To purchase the initial What If…? diagnostic for your business (RRP $385.00 inc. gst), or to discuss a complete personalised service contact us on 02 9518 6966 or info@businesshealth.com.au or BH Contact Form. We have pre-arranged preferential pricing with a number of licensees and alliances, so please contact us for pricing.
Further reading:
Article: If Something Happens to You, What Happens to… Everyone Else?