A new partnership has highlighted a potential solution to assist any advice businesses challenged by the prospect of building estate planning into their advice offering.
National integrated financial services firm, Tribel, has entered an agreement with Australian fintech, Yodal, to roll out Yodal’s estate planning solution across the group’s network of financial advisers, accountants and mortgage brokers.
The two companies say Tribel will offer a “…flexible, cost-effective estate planning service that will gather and store the client information necessary to create a comprehensive estate plan, alert clients if further information is required, and connect clients to a panel of specialist estate planning legal partners.”
The firms say that with Yodal’s digital platform, Tribel can play an integral role in the estate planning process “…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.”
…the estate planning service enhances the group’s value proposition…
Simon Little, Tribel’s National Head of Advice, says the estate planning service enhances the group’s value proposition and supports its mission to help clients achieve holistic financial wellbeing throughout their financial journey.
He says the partnership will see them deliver a dynamic, scalable solution to its 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.”
He says as accountants and advisers, the company 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.
Brandon Thompson, Yodal CEO, says awareness of the importance of estate planning was improving but Australians still needed guidance around what to do and who to see.
He says that businesses like Tribel are realising that they can do more to solve their clients’ estate planning needs than simply referring them to a solicitor, noting that traditionally, advisers have had little-to-no visibility over the estate planning process beyond the initial referral.
“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,” he says.
