The importance of business continuity and succession planning

Event information

Delve into the critical aspects of business continuity and succession planning in this webinar, focusing on the protection and sustainability of businesses in the face of unforeseen events. Understand why businesses need to consider continuity plans in the event of the death, illness, or incapacity of a key person, how to identify those key individuals within the organisation and how to determine appropriate levels of cover.

We will explore why succession planning is necessary, the potential consequences of not having a plan, the different methods of business succession planning and when each method is appropriate. Our expert speaker will also guide you through how to use trusts and option agreements, the tax treatment of premiums and benefits and how to find further assistance and use guides to help identify potential risks for a business.

The webinar will cover the importance of strategic planning and collaboration to safeguard a business against potential disruptions, offering you support and advice on three key actions to take back to your organisations:

• Proactive risk management: implement a proactive approach to identify and manage human capital risks, ensuring that governance processes are in place to address potential challenges.
• Collaborative resilience building: work closely with brokers and trusted advisers to develop strategies that enhance business resilience, ensuring continuity in the face of unforeseen events affecting key personnel.
• Continuous risk assessment: assign responsibility to someone within a business to regularly review and update risk assessments, adapting to new and evolving risks as a business grows.

Key benefits

• Equip yourself with the knowledge to safeguard businesses against unforeseen events.
• Enhance your ability to plan effectively for the future.
• Improve your understanding of the tax treatment of risk management strategies.

About the speaker

Neville Khorshidchehr, Principal, Chartered Financial Planner and Business Protection Leader, Mercer Private Wealth Neville is a Chartered Financial Planner with over 22 years of experience. Neville specialises in key person insurance and shareholder/partnership protection, helping businesses safeguard their most valuable assets and ensure continuity through comprehensive risk management strategies. Neville works closely with business owners and key stakeholders to develop tailored protection plans that address their unique needs, ensuring clients are well prepared through having a financial safety net should the unforeseen happen.

CPD hours

ICAEW's revised Continuing Professional Development (CPD) Regulations bring in new CPD requirements. This includes a minimum number of hours and an ethics requirement. Attending this webinar could contribute up to 1 hour of verifiable CPD, providing you can demonstrate that the content is relevant to your role.

A copy of the webinar booking confirmation email is accepted as evidence of verifiable CPD. You will need to save the email as a JPEG or PDF before uploading it to your record. Click here to use ICAEW’s self-assessment tool to help you work out how much CPD you will need to fulfil each year.

Costs

There is no charge to attend this event. ICAEW members and non-members are welcome to join. This event is organised by the Personal Financial Planning Community. Please click here to join online.