The Business Succession Planning (BSP) Course is specially designed to enhance the knowledge of those who are keen to work in the business owners market, in areas of estate planning and business owners’ succession.

Our dynamic and experienced Trainer is from the Financial Services Industry specializes in using tools such as Wills, Trusts, Laws relating to Estate Planning, and questioning techniques to engage the business owners.

The Programme has been accredited under the Skills Framework for Financial Services and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.

And it addresses the following Technical Skills and Competencies (TSCs) and proficiency level:

Personal Finance Advisory (Proficiency Level 4)

The course will also award participant a total of 29 hours, subject to insurer’s approval.

Target Audience includes:

• Financial Planners / Life Insurance Advisers / Financial Consultants

• Relationship Managers

• Bancassurance Staff

Other insurance Professionals like Agency Leaders from the financial service industry who have a job responsibility on joint-field work with agents who may encounter and meet business owners.

ENTRY Requirement

• Those who have at least 2 to 3 years' experience in the financial planning arena.

• Financial Planners / Financial Consultants / Life Insurance Advisers who have a pool of business owners and/or HNW individuals, or looking into penetrating into this market segment.

• Relationship Managers who are in HNW depts with a pool of business owners.
  

Learning Objectives and Outcome:

• The 4-day course on Business Succession Planning is designed to equip participants with comprehensive knowledge and skills in various aspects of succession planning. By the end of the course, participants will have a clear understanding of asset protection, buy/sell arrangements, credit protection, key person planning, executive reward and retention planning, and gathering information, approaches, and solutions to issues facing business owners.

• During the course, participants will delve into the intricacies of asset protection, learning how to safeguard business assets from potential risks and liabilities. They will explore different strategies and legal frameworks to shield assets from creditors, lawsuits, and other threats that may arise.

• Buy/sell arrangements will also be extensively covered, enabling participants to understand the importance of having a well-structured agreement in place for the smooth transfer of ownership in the event of retirement, disability, or death. They will learn how to evaluate different valuation methods, negotiate terms, and draft effective buy/sell agreements that protect the interests of all parties involved.

• Credit protection is another crucial aspect that participants will gain insights into. They will learn how to assess and mitigate credit risks, ensuring the financial stability of the business. Strategies such as credit insurance, collateralization, and risk diversification will be explored to minimize the impact of potential defaults or non-payment by customers or clients.

• Key person planning will be emphasized, as participants discover the significance of identifying and developing key individuals within the organization. They will learn how to create contingency plans to address the potential loss of key personnel and ensure business continuity. Techniques for attracting, retaining, and incentivizing key employees will also be discussed, enabling participants to design effective reward and retention plans.

• Finally, participants will be guided on how to approach fact-finding and gather relevant information to find a solution by way of questioning techniques. They will learn the importance of accurate and comprehensive data collection, analysis, and documentation to support their business succession plans. The course will provide practical exercises and case studies to enhance participants' fact-finding skills and ensure an understanding of such live cases could provide reality to how business succession planning is crucial to all business owners. The learning to include the process to construct personal financial plans, using estate planning approaches and how to issue resolution to meet business and personal objectives.

• Overall, the 4-day course on Business Succession Planning offers a comprehensive and practical learning experience, equipping participants with the knowledge and skills necessary to navigate the complexities of succession planning. By the end of the course, participants will be well-prepared to develop and implement effective business succession strategies to help business owners in areas of assets protection, replacement of key personnel, proper transition of business to chosen successor to ensure business continuity.
  

This comprehensive 4-day program is designed to equip financial professionals, advisors, and business consultants with practical knowledge and actionable strategies in the field of business succession and estate planning. The course is structured around key modules that reflect real-world challenges and solutions faced by business owners:

🧭 1. Introduction to Business Succession Planning
• Understand the core concepts, purpose, and key stakeholders involved in business succession.

🛡️ 2. Asset Protection & Legacy Tools
• Explore strategies to protect business and family wealth from lawsuits, creditors, and spendthrift risks.
• Tools covered: Wills, Trusts, and Lasting Power of Attorney (LPA).

🤝 3. Buy/Sell Agreement Strategies
• Learn about one-way and cross-purchase agreements, business trusts, share buybacks, and valuation approaches for business continuity planning.

💳 4. Credit & Loan Protection
• Address loan exposures and the implications for business owners and guarantors when liabilities arise.

🧑‍💼 5. Directors & Key Person Planning
• Identify who qualifies as a key person and understand how to assess their value for loss of key person’s replacement, and plan for tax-efficient coverage.

💼 6. Executive Benefits Planning
• Discover golden handcuff strategies for rewarding and retaining top talent.
• Learn how to leverage corporate funds for personal financial benefits.

🧩 7. Business & Estate Planning Integration
• Examine business structures, tax issues, and the consequences of poor planning through real-life case studies.

🗣️ 8. Client Engagement & Sales Techniques
• Master fact-finding, objection handling, and power-closing phrases to confidently approach and advise business owners.

🔚 9. Exit Strategy & Retirement Planning
• Gain insights into planning structured business exits and integrating retirement and estate considerations into the long-term succession and legacy strategy.

This program is ideal for financial planners, wealth advisors, estate practitioners, and consultants who work with business owners and high-net-worth individuals.

No prior technical knowledge is required. The course is designed to accommodate both seasoned professionals and those seeking to build foundational expertise.

Yes, the program is IBF-STS accredited. Eligible participants (who are RNF licensed) can enjoy up to 50% or 70% course fee subsidy, depending on age and citizenship status, and subject to course completion.

Participants will receive a full course material, including real-life case studies, planning templates, and approaches checklists that can be used in client engagements.

Yes, a Certificate of Completion will be issued at the end of the program for participants who fulfill the attendance, including passing the Assessment.

The course is led by Michael Seow, a 38-year veteran in business succession and estate planning. He brings a wealth of practical experience and real-life insight.

TBD

Please reach out to our Program Coordinator, Doreena @ +65 9637 2547 or email us at fapl@fortress-advisers.com