The Brisbane-based financial advisory group has now launched its white-labelled estate planning solution, backed by Australian fintech Yodal, enhancing the client value proposition of over 15 advisers across seven locations.
MiQ Private Wealth chief executive Liam Brown said the development of the solution is a reflection of the company’s commitment to expanding the number of intergenerational clients, helping advisers deliver better outcomes for their clients and their families.
“It is critically important that 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 dangerously exposed,” Brown said.
“With Yodal, we can own the estate planning process. We 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 chief executive Brandon Thompson said the firm’s solution helps advisers reduce risk while also elevating their individual brands and helping them establish intergenerational client relationships.
“Yodal is much 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,” Thompson said.
“By playing a central role in the estate planning process, advisers can ensure that clients leave a legacy that is not marred by stress and confusion. They are also putting themselves in a strong position to advise the next generation and help them protect, manage and grow their inheritance.”
Brown said MiQ now has ambitious plans to expand its national footprint beyond its seven existing office locations, currently spanning Queensland, Western Australia, Canberra, and NSW.
“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,” Brown said.
“The feedback from our pilot program has been extremely positive. Some clients have recently brought family members to advice meetings, after years of asking them to come along. By engaging future generations in the estate planning process, new clients are falling into our laps.”
