National advice group rolls out estate planning solution
Financial services group Tribel has entered into agreement to roll out an estate planning solution from Yodal to its financial advisers.
The service will gather and store the client information necessary to create a comprehensive plan, alert clients if further information is required, and seamlessly connect clients to a panel of specialist estate planning legal partners.
This will help Tribel’s advisers to track the creation and modification of estate plans, and oversee the transfer of wealth in accordance with a client’s wishes, adhering to the full extent of the law.
It can also be used by the firm’s accountants and mortgage brokers.
Simon Little, Tribel’s national head of advice, said: “We are excited to partner with Yodal to deliver a dynamic, scalable solution to our national network of accountants and advisers and their clients.
“Too many Australians pass away every year without a will, creating unintentional financial hardship, stress and, all too often, conflict among families and loved ones.
“As accountants and advisers, we can play an important role in helping clients determine how they want their affairs and assets to be managed and distributed after they’re gone, ensuring their legacy is honoured as they intended.”
Brandon Thompson, Yodal chief executive, said: “Savvy businesses like Tribel are realising that they can do much more to solve their clients’ estate planning needs than simply referring them to a solicitor.
“Traditionally, advisers have had little-to-no visibility over the estate planning process beyond the initial referral, often resulting in suboptimal outcomes including nothing being done, poor tax outcomes and potential brand damage to the advisory firm.
“We are helping advisers reshape the estate planning experience by supporting them to develop and deliver an invaluable service that not only builds client relationships but also fosters initial and ongoing engagement with family members and future generations.”
Earlier this year, AMP also partnered with Yodal to launch a new estate planning offering for its advice network. This will include initial and ongoing training for advisers through an advice toolkit, practice marketing and reuse of Xplan data.
According to the licensee, the estate planning service was launched in response to burgeoning client demand for estate planning to help advice practices further grow their businesses.
AUTHOR
Laura Dew
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
