Financial adviser / accountant and client relationships are two of the strongest and most personal professional-to-client relationships in existence. There is, however, potential for clients to assume that their financial adviser or their accountant has every aspect of their personal and business affairs under control, which can spell trouble for both parties in the long term.
With the introduction of the Future of Financial Advice (FOFA) reforms, no matter how this government may amend those reforms, greater obligations and responsibilities have been imposed on financial advisers than ever before. As a result, the potential legal liability for financial advisers has grown considerably.
We have a solution…
Legal Insurance for Financial Advisers & Accountants (HHG-LawInsure™)
We have developed HHG’s Legal Insurance for Financial Advisers & Accountants: an inexpensive, fixed-fee exercise (approximately $660), developed specifically with financial advisers and accountants in mind. We exhaustively review your client’s legal risks, (preferably annually) from a personal, family and business perspective, and notify them and you in writing of our findings and recommendations. This insures you against clients blaming you for unforeseen risk in their affairs. The report stays on your file for 12 months until it is time for the next check-up.
Please note: this exercise places no obligation on the client to engage HHG Legal Group as their legal adviser going forward. We are of course available if your client wishes to engage our services, but that is entirely optional. HHG’s Legal Insurance is specifically designed to protect you and your clients by ensuring all legal risks are discovered proactively. After that, it is up to you and the client as to which law firm is engaged to act on our recommendations.
How Does it Work?
There are three steps to this fixed fee process:
- The HHG “Legal Check-up”: Your client (either with or without you present) will have a one hour consultation with a purpose-trained lawyer who will guide them through a detailed check-up process covering personal, family, and business arrangements. No advice is given at this stage; that comes later.
- The HHG “Action List”: We send you and your client a list of recommended actions covering:
- personal estate & business succession planning;
- family/de facto law risks;
- risks currently facing other family members (ie children);
- intra-family loans;
- employment issues;
- business structuring;
- commercial agreements;
- tax & superannuation legal issues;
- financial record keeping;
- inheritance claims;
- exposure to legal liability in general;
- asset protection;
- IT risks;
- intellectual property issues;
- human resources and occupational health & safety business risks;
- litigation prevention;
- immigration issues;
- pension issues; and
- any other legal risks particular to the client’s business or current personal setup. If rare or unusual risks exist, the detailed questionnaire process will usually find them.
- The HHG “Cost Proposal”: If a client wishes to act on our recommendations, we will be only too happy to provide a range of cost options for comparison to other law firms. We can provide time based, fixed fee or retainer fee options.
By carrying out this work for your clients every 12 months, HHG Legal Group is accepting legal liability for protecting your clients against considerable future risk. In other words, the risk moves from you, to us, hence the name HHG-LawInsure™.
As a strategically-placed, full service, mid-tier law firm providing both personal and business services, we are uniquely qualified to offer this service covering the needs of individuals and their businesses. The dedication and passion that drives HHG Legal Group has resulted in us being named the number 3 law firm in Australia (by Top 50 Law Firms Australia).
Our Fee Guarantee
If we don’t find any issues that need your client’s attention, we will refund 50% of the fixed fee. If you, or your client, are not happy with our service, we will refund 100% of the fee. In any event, we guarantee client satisfaction in general and we are the only law firm in Australia to do so.
We are happy to take any appointments with both you and your clients at a time convenient for you. To arrange an appointment, please contact us on 1800 609 945 or email firstname.lastname@example.org.
We look forward to making this new service of great relevance to your practice.