QB Partners launch Business Protection Service
QB Partners has further extended its range of independent technical support services for professional advisers through the launch of its new Business Protection Support Service.
The service will be delivered using the solutions based approach that advisers have become used to from QB Partners and will focus on key person cover, business loan protection and shareholder/ partnership protection.
Business protection support can be provided through QB Partners' established Specialist Adviser Service. As a result of our existing relationships with UK FCA regulated business protection specialist advisers, QB Partners is extremely well placed to assist in ensuring that clients who are considering protecting their businesses in the event of death and critical illness are able to receive appropriate advice. QB Partners have put together a panel of UK financial advisers with the appropriate qualifications and permissions. Following an initial enquiry, QB Partners will provide details of an appropriate UK business protection adviser from this panel. QB Partners will liaise with the introducer and their client to ensure that the fact-find and accompanying documentation are completed to allow the business protection adviser to give the appropriate advice. The business protection adviser will take full responsibility for the business protection advice and transact any applications through to policy commencement (subject to underwriting).
Alternatively, QB Partners have developed fact-find questionnaires which provide us the information needed to prepare reports for advisers who want to transact the business themselves. A Business Protection Opportunities report is available at £250, which will provide the adviser with a 'desktop review' of the business to identify opportunities to protect it. Full business protection reports start at £750 for each individual from the business being reviewed, with chartered tax adviser sign-off and due diligence commentary available, if required, at an additional cost.
Taking the lead on the Business Protection Support Service will be Scott Hood. Scott is experienced in business protection, having provided business protection technical and market development support for life assurance companies in the UK and internationally.
Research by Legal & General in its 6th State of the Nation's SMEs report (2019) found that 52% of business would cease trading in under one year if they lost a key person. It is important for businesses to be prepared should people who are key to that business die or become critically ill.
If you have an enquiry that you would like to discuss please contact us by email at email@example.com or by telephone at 01624 661232.