A training programme designed to equip advisers with the knowledge and skills to consult, analyse and implement effective solutions to manage the financial risks in Micro-businesses as a result of the loss of key human capital.

BACKGROUND

Over 70% of New Zealand businesses are sole owner (or held within a close family unit) and employ 1-3 people.

The tight interdependence between the physical effort of the owner to generate the business revenue and the business to generate income for the owner means that their inability to work will result in a domino effect from the business to the owner’s personal life.

As the personal assets of the owner such as their home are typically the primary source of security over business debts the domino effect will flow through to their wealth if the loss of the owner results in the business being forced to wind up.

Effective risk management strategies enable a small business owner to manage the financial consequences in the business and protect their personal wealth and income against the events of death and disablement.

LEARNING OUTCOMES

The outcomes this learning programme is designed to achieve are that the participants:

1. Understand and can articulate the service proposition to a Microbusiness owner
2. Have the knowledge of how to conduct the Microbusiness consultation process to uncover the situation, problems and needs of the business in respect of the key person
3. Understand how to undertake financial analysis to assess the business requirements for continuation and wind up
4. Have the knowledge of how to identify and match insurance solutions to the financial risks
5. Understand how to create a risk plan and present the plan to a business owner
6. Understand how to present a business case for financial underwriting

LEARNING PROGRAMME

The learning programme is made up of two elements. The first is online pre-workshop learning to provide core technical knowledge and the second is a facilitated workshop.

Element 1: Completion of 4 Triplejump pre-workshop e-modules

1. Introduction to Financial Statements
2. Key Person Risk Analysis
3. Operational Diagrams
4. Customised Insurance Products

Element 2: Two Day Workshop

CONTENT

1. Microbusiness demographics and characteristics
2. Microbusiness risk consultation process
3. Using financial statements to identify risks
4. Microbusiness financial risks analysis

- Continuation Analysis

- Wind Up Analysis

1. Structuring Income Protection for a business owner
2. ACC analysis and advice
3. Insurance solutions for Microbusiness
4. Compiling a Microbusiness Risk Plan
5. Financial underwriting of business risk
6. Articulating the Value Proposition to business owners and Centres of Influence

LEARNING PROGRAMME FEES

Element 1 - $250 plus GST per Adviser

Element 2 - $675 plus GST per Adviser

This is a Financial Advice New Zealand accredited CPD event of 19 structured hours.

WHAT ADVISERS SAY

"These workshops will pay great dividends in your depth of business knowledge" - John Galvin

"Pratical experience advisers need to make a real difference at the coal face" - Lance Parker Wadham

WORKSHOP FACILITATOR

Cecilia Farrow , CLU | [email protected]

Cecilia has had more than 20 years in the Life Risk sector and has specialized in developing advice models for Business Risk for the past 15 years. She believes that the Microbusiness market presents substantial opportunities for advisers to expand their practice without the complexities that multi owner Business Risk advice demands. 

To register please email directly [email protected]