How Zenith Wealth Management used Yodal to strengthen their business

Tuesday April 9th 2019

It was the name that first grabbed the attention of Zenith Wealth Management founder Peter Chun: “I was researching options for Estate Planning and came across Yodal,” says Mr Chun. “I had no real understanding of what their offering was with a name like that, but I’m very pleased I gave it a shot.”

Mr Chun points out that Estate Planning is often carried out in a manner counterintuitive to the best possible outcome for the client.

“Nobody knows more about our clients’ financial circumstances than we do as financial advisers - after all, that’s our job.

“Our focus is on making sure that the right investment and savings strategies are in place to best position clients for their short, medium and long term financial outcomes. However, from my experience Estate Planning often begins with an individual going to their lawyer before any discussion with their financial adviser about assets and liabilities, taxation or desired beneficiary distribution. The traditional process takes longer to complete and, as a result, costs more. If advisers facilitate this process, not only is it appropriate to include a facilitation fee but it can provide a significantly reduced overall cost, particularly where trust structures are required”.

Mr. Chun further notes that legal professionals require detailed information along with the relevant context to set up an Estate Plan effectively. He says that Yodal has developed a simple, reliable solution, improving the process for advisers, their clients and lawyers.

“At Zenith Wealth, we’re focused on two objectives: making things easier and more cost effective for our clients, while also helping them make solid, educated decisions.

“An important point here is that our hourly rate is likely to be less than a lawyer. For clients, an adviser-led Estate Planning process delivers a more strategic approach to their final requirements. For our business, the Yodal solution provides an additional revenue stream, whilst adding a direct dollar saving to our clients’ bottom lines.

“With Yodal, the process is straightforward. We sit down with the client and go through the steps laid out by Yodal. If we need help, it’s just a click or call away. Not many products offer the same type of win-win scenario that Yodal has.”

Mr Chun stresses the importance of open and transparent communication with clients and says that this is a crucial feature of Yodal.

“All emails are saved on the platform and shared via a link, so there are never any communication bottlenecks. Our clients can see what we see and therefore they understand what is taking place, why questions are being asked and what documentation or information they need to provide.”

The theme of effective communication doesn’t stop there.

“When our client’s lawyer gets involved, they are armed with all the relevant information and it is laid out in an acceptable format, designed for the purpose. This means cost savings for the client and a better result for everyone. Yodal is one of those products that delivers on every level.”