Corporate Solutions
Accountants
Asset Adequacy Analysis is a value added service offered by accountants who focus their clients on the future, rather than the compliant past. Traditional compliant accounting centres on the client’s past twelve months, with often scant thought given to the adequate funding of the future; and yet it is the future funding which will most impact on the client’s lifestyle.
It could be argued that accountants have an implied obligation to assist clients navigate through to the long term rather than deal exclusively in post transactional detail. Far reaching Asset Adequacy Analysis projections are delivered by accountants through secure web based technology which enables insightful and, at times disturbingly, realistic long term high level forecasts.
• Can the client afford to retire?
• Will the client outlast their available funds?
These seemingly straight-forward questions are in fact exceedingly difficult to answer with any reasonable degree of certainty. What if markets move against the client? What if the client is wholly exposed to one asset class? What if interest rates fluctuate? What if the client’s business cannot be sold at assumed values?
Asset Adequacy Analysis fills the gap in the suite of accounting services. Already in use in national and smaller boutique firms, it allows the accountant to meet the clients’ expectations of fundamental long term financial guidance, without the compliance burden associated with giving financial product advice.
The net result is a far deeper understanding of a client’s long term ambitions, enhanced fees, more value added assignments and a client who is more engaged with the accountant.
But most importantly; with Asset Adequacy Analysis the client is provided with a professional, independent and clear view of their long term financial path, without any potential distortion imposed by the lure of commissions attached to financial product sales.
Complete details of Asset Adequacy Analysis and the manner in which accounting firms are assisting clients by clearing the fog of future uncertainty are available from Plan B Wealth Management Ltd.
If you are a Chartered Accountant or Certified Practising Accountant talk to Plan B about the opportunity to maximise your business potential and secure your clients’ long-term financial objectives.
Accountants throughout Australia have engaged Plan B to provide solutions that allow them to provide long-term financial forecasting services, without the need to be an authorised Financial Planner.
The result – you provide more services to your clients, your billings and recoveries are higher, your clients are happier, your practice has less practice reliance on the “compliance commodity” and you develop a depth of knowledge of your clients’ affairs which goes far deeper than a tax return or set of financial statements ever will!
If you would like to know more about how Plan B can help your practice grow please contact Darryl Morphett, Relationship Manager - Strategic Alliances on (08) 9324 6000, or email planb@planbonline.com.