Personal Risk Management

Whether you are unable to earn temporarily or permanently, there will be a financial impact on your life, and on the lives of those important to you. At S.W. Morris & Associates we provide advice- we meet with our clients to first understand their goals, needs & risks & put together a personalised risk management plan made specifically for you.

Employee Benefits

We recognise that a critical factor in maintaining a long-term successful culture in your business, given our fast-changing competitive workplace, is to provide an Employee Benefit solution which provides non-cash benefits and underpins your organisation’s future performance.

In our experience a common mistake in plan designs is mixing Individual requirements within an Employee Benefit plan design. Straying from any of the cornerstones or principles of an Employee Benefit plan will result in a sub-par package for your good people.

It is also important to accept within a group of individuals that there is not a perfect world where every personal need is going to be met by the company’s benefit policy. Instead an Employee Benefit plan should mitigate business risks such as employee absenteeism and provide a robust framework to provide cover for your business’ people by providing a robust framework to protecting your employees and owners.

Business Risk - Key Person & Shareholder Protection

Shareholder protection

 Establishes a mutually agreed business value for your company on a regular basis; usually annually

  • Creates an automatic mechanism for an unplanned “life risk” event (e.g. TPD, Terminal illness or death)

  • Produces cash quickly via life insurance to enable:

    • deceased (terminally ill or permanently disabled) shareholder’s estate to get cash out of business by transferring shares to surviving owner/s

    • surviving shareholder’s to be able to pay out Current Account & Capital immediately to deceased (or permanently disabled) shareholder’s estate

Key Person

We advise business owners & directors to be aware of the following business risk issues:

 ·      Identify all reasonably apparent risks

·      Quantify those risks and assess the effect of the risk on Creditors and other parties.

·      Not allow the Company to be put passively at risk

·      Ensure that the Company remains solvent at all times

·      Reduce, avoid or eliminate any risk that can be prudently dealt with

·      Disclose  any unmanageable risks to any party potentially at risk

·      Constantly review this process

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