Business Protection: The Essentials (May 23)
Category: Practice Management | Duration: 1hr | Tag: VODATSUK23D3S3 | Type: Video | Speaker: Mark Taggart | Date: 25/05/2023 12:00
Course Details
Ask your clients if they have business protection, and the most likely response will be, “What is business protection?” It’s well documented that there is a massive advice gap in this area. Many business owners are not aware of how financially crippling losing a key person through death or illness could be to their business.
The stats out there show that more often than not, a business will cease trading in these circumstances as there is no plan or direction on how to move forward and cash flow issues set in.
Even for those who realise they would have a problem in this scenario, many are unaware that there are ways they can cover the financial loss using business protection.
This course is aimed at understanding the essentials of business protection and how it is relevant for your clients. Almost every business has someone who is key to the running of the business, without whom there would be major problems, both operationally and financially. Understanding the risk of this happening can help you provide more value to your clients by raising the topic and pointing them in the right direction to protect their business, their family and their staff by ensuring the business’s future is secure.
During this course Mark Taggart covers the following topics:
• What is Business Protection
• Succession Planning
• Contingency Planning
• Helping your clients save tax
• How to have the conversation
CPD Course Speaker
Bespoke Business Protection Limited
Mark Taggart
Mark is a business protection adviser working with business owners and leaders to get them thinking about the financial impact on their business if they lost an owner or key individual through death or ill health.
Mark spent a few years working for a leading insurance company training financial advisers on how to protect businesses. Realising just how few businesses were aware of the risks and the potential solutions, Mark decided to become an adviser himself in 2020 with the aim of providing specialised advice to businesses.
Alongside servicing his clients, Mark spends time working with accountants highlighting the importance of raising this topic with their clients. Additionally, he assists them in implementing a strategy to signpost their clients in the right direction to receive the help and advice they need on these matters.
Mark spent a few years working for a leading insurance company training financial advisers on how to protect businesses. Realising just how few businesses were aware of the risks and the potential solutions, Mark decided to become an adviser himself in 2020 with the aim of providing specialised advice to businesses.
Alongside servicing his clients, Mark spends time working with accountants highlighting the importance of raising this topic with their clients. Additionally, he assists them in implementing a strategy to signpost their clients in the right direction to receive the help and advice they need on these matters.