Business Protection Service

52% of businesses would cease trading in under one year if they lost a key person*. It is important for your clients' businesses to be prepared should people who are key to that business die or become critically ill. *Source: Legal & General's 6th State of the Nation's SMEs report (2019).

QB Partner's business protection service is led by Scott Hood , who is a is a Fellow of the Personal Finance Society, Chartered Financial Planner and law graduate.

Scott is a business protection specialist and has worked for a number of the leading business protection providers on the development and delivery of business protection solutions.

Suitability Report Service

One of the key aspects of our service is the provision of a report to the professional adviser, which recommends options and solutions for their business clients based on their circumstances and objectives. These reports can focus on a particular individual in the business or provide an overview of the business protection needs.

A tailored Fact Find Questionnaire has been developed which will provide us with all of the information needed to prepare a comprehensive suitability report for the adviser. A Business Protection Opportunities Report will include a 'desktop review' of the business from the completed fact-find and additional information submitted (e.g. accounts) and provide the adviser with an assessment of opportunities to protect the business in the areas of key person, business loan, and shareholder protection. The Opportunities Report will also give an indication of the likely sums assured required and potential costs for cover to address the identified needs at standard rates to help the adviser discuss budgets with their client.

Should the client wish to proceed, a full business protection report will provide a focussed review on the business protection needs in relation to specified individuals (e.g. the partners, directors) and demonstrate how the recommended solutions will  benefit the client. The report service includes support with implementation of any recommendations. At additional cost QB Partners will provide tax sign-off, if required, due diligence on the recommended providers and an annual review service, assisting the adviser in reviewing the client situation and recommending any further appropriate planning.

The cost of the Business Opportunities Report is £250 per business and the full report is available for a fee of £750 per individual shareholder/ partner/ employee. A credit will be given for the cost of the Business Opportunities Report against any subsequent business protection report for the business.

Report Process

• Adviser completes appropriate fact find questionnaire
• Short telephone call with adviser to clarify scope of required work
• Identification of any additional work required in addition to standard report and agreement of extra costs
• Preparation of suitability report
• Further call to agree report and any subsequent actions

Business Protection advice can be fully outsourced to our Specialist Adviser Service.