Catering initially to clients across Queensland, Western Australia, Canberra, and regional New South Wales, this platform extends MiQ's commitment to seamless estate management. The initiative seeks to bridge the gap between financial advice and legal facilitation, aiming to alleviate the complex challenges traditionally associated with estate planning. Liam Brown, MiQ's Chief Executive Officer, emphasizes the importance of simplifying estate processes, remarking, "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."
This platform not only addresses risk management and compliance issues but also nurtures the development of multi-generational client relationships. By integrating estate planning into MiQ’s service offerings, this strategic move positions the firm ahead in the competitive landscape. Brown asserts, "With Yodal, we can own the estate planning process...the platform gives us total visibility over what’s happening and what’s not, minimising the risk of people falling through the cracks."
The service isn't just limited to being an estate planning tool; it's a catalyst for business growth. Thompson of Yodal remarks, "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." This dual functionality enhances the advisers' ability to craft personalized financial plans while capturing future generations under their advisory umbrella.
Innovative use of technology enables clients to quickly connect with legal professionals for document execution, effectively lowering barriers and saving valuable time for network advisers and their clientele. As estate planning transitions to a cornerstone of MiQ's comprehensive services, prospects for attracting new clients amplify amid evolving financial advisory expectations.
Reflecting on insights from the pilot rollout, Brown highlights the overwhelming positive client reception, remarking on how clients now involve family members in their financial discussions. According to the CEO, this has led to spontaneous client base expansion, demonstrating the potential of engaging future generations early in estate planning.
Originally reported by Yasmine Raso, MiQ's explorative venture captures a decisive shift in the industry’s embrace of digital technology as a core component of future-focused financial strategies.
