Brisbane-based financial advisory group, MiQ Private Wealth, says it’s expanding its client value proposition with the launch of a new digital estate planning solution, backed by Australian fintech Yodal.
The company says that after a six-month pilot program, MIQ’s white-labelled estate planning solution will be rolled out to the group’s clients through its network of over 15 financial advisers across seven locations.
Liam Brown, MiQ’s CEO, says the initiative reflects the group’s strategic focus on continuously improving the client experience and growing the number of inter-generational clients.
He says it’s important people get their affairs in order to ensure the smooth and efficient distribution of their wealth, in accordance with their wishes “…so we’re constantly encouraging clients to see a lawyer for their estate planning needs, but life is busy and many clients just don’t do it, leaving themselves and their families … exposed.”
Brown says that with Yodal, the firm can assist in the creation and management of estate plans by driving initial and ongoing client engagement, connecting clients with legal professionals to execute documents, and tracking the creation and modification of estate plans.
“The platform gives us total visibility over what’s happening and what’s not, minimising the risk of people falling through the cracks.”
Yodal CEO, Brandon Thompson, says the group’s flexible, scalable solution solved many of the estate planning challenges that advice businesses had been grappling with, and also created opportunities for advisers to elevate their brand, reduce risk and establish relationships with their clients’ children, grandchildren and family members.
He says Yodal is more than an estate planning solution “…it’s a business growth solution too because it is helping advisers bolster their value proposition, diversify their revenue, foster mutually beneficial referral relationships and develop relationships with the next generation.”
With four office locations in Queensland and a presence in Western Australia, Canberra and regional New South Wales, MiQ has plans to expand its national footprint.
Brown expects estate planning to become a core part of the group’s offer over time, alongside personal strategic advice, retirement planning, risk insurance and wealth management.
“Estate planning is not just a value-added service for existing clients. We believe it will play an increasingly important role in attracting new clients.”
