Business Owners Benefit from Sentry Group Succession Solution Initiative

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Business Owners to Benefit from Sentry Group Succession Solution Initiative


Business Owners to Benefit from Sentry Group Succession Solution Initiative

By , July 23, 2012

Sentry Group Pty Ltd (Sentry) Chairman and CEO Murray Hills has announced that the national dealer group continues to develop innovative programs that will significantly enhance the skills and expertise its advisers and enable them to capitalise on business opportunities in the FoFA environment.

The latest Sentry initiative will position the dealer group as a significant provider of resources and expertise for financial advisers seeking to specialise in the provision of succession strategies and solutions for business owners. Many business owners go into business not only to earn an income, but to build value in their commercial activity with a view to maximise its value so that one day they can sell it and fund their retirement. It has been estimated that more than half of Australia’s SMEs plan to use their business as the primary source of funding their retirement.

But while that may be the plan, very few business owners successfully achieve that outcome. Only those businesses that are well prepared and structured will be able to be sold profitably and fulfil the goals of the business owners. “Sentry’s latest enterprise will provide a compelling marketplace offer for those financial advisers that specialise in the business insurance sector, in particular, Business Succession Planning,” said Hills.

“Our long term strategic objective is to be the source of the industry’s leading Estate and Business Succession Planning financial advisers.”

Hills went on to confirm that Sentry has invested significant funds and resources over the past two years with special training programs, workshops and PD days conducted by industry experts The Risk Store, Cleary Hoare Lawyers and Civic Legal – all dedicated to enhancing the expertise, competency and skills of advisers in the provision of asset protection, estate and business planning and succession services for clients.

In addition, Sentry’s Technical Manager Peter Martinovich has worked with The Risk Store to develop specialised documentation, templates, fact finders and a business insurance Statement of Advice for use by financial advisers.

Murray Hills has also confirmed that Sentry has established a marketing joint venture with Sydney based business succession specialist consultancy group, Succession Plus.

The Sentry – Succession Plus JV is regarded as an important component of the dealer group’s delivery of full succession and exit planning solutions and support for advisers specialising in this field.

“The provision of business succession solutions, especially for Baby Boomer generation business owners, will provide an unprecedented opportunity for appropriately skilled financial advisers,” said Succession Plus CEO and Founder Craig West.

“The demand for business structuring and succession planning services by Baby Boomers has only just begun and it will continue gaining greater momentum with each passing year until 2028.”

Under the Sentry – Succession Plus JV, a Succession Plus Adviser Group has been established and the carefully selected advisers will undergo intensive Succession and exit planning training with Craig West to further enhance their knowledge of business taxation, business structures, buy / sell agreements and other related areas.

The provision of the very highest standards of advice and professionalism to business owners is Sentry’s primary objective.

As knowledge of Sentry’s initiative spreads, there has been a growing number of enquiries from accountants and lawyers seeking the dealer group’s highly trained and technically proficient financial advisers to assist them complete the estate
planning, business succession and risk protection triangle for high net wealth clients.

Sentry will also extend invitations to experienced advisers from outside the dealer group with strong life risk protection expertise interested in expanding their horizons and capitalising on the opportunities in the Business Succession sector.

Reflecting on Sentry’s rapid growth and success since it commenced in July 2005 Murray Hills said the dealer group has established an enviable marketplace reputation as one of Australia’s premier and innovative life risk specialist dealer groups dedicated to supporting the client service, financial advice and marketing aspirations of its advisers.

Issued by Sentry Group Pty Ltd
Media Enquiries: Mr. Joe Perri
Joe Perri & Associates Pty Ltd
Telephone/Fax: +61 3 9324 0362
Mobile: +61 412 112 545

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.