Here are three high-revenue, low-effort services accountants can add to boost profitability immediately:
1️⃣ Automated SMSF Document, Advice and Compliance Service
Why?
SMSFs are a goldmine for accountants, but many shy away due to compliance complexities. By leveraging LYD document automation (and including Legal Back Office advice service to facilitate without breaking the Corporations Act), accountants can provide cost-effective, high-margin SMSF services without increasing workload.
💰 Revenue Potential: $1,000–$5,000 per client annually
⚡ Low Effort Strategy:
Use the subscription-based LYD SMSF document platform.
Offer an SMSF compliance package (annual return, investment strategy updates, trust deed upgrades).
Bundle it with family wealth protection strategies (e.g., Family Protection Trusts).
For big SMSF strategies do as a joint venture with Legal Back Office.
2️⃣ Asset Protection & Estate Planning Review Service
Why?
Clients need asset protection, but few accountants proactively offer it. By partnering with LYD and Legal Back Office, accountants can sell trust, will, and asset protection reviews—a one-hour conversation with Grant Abbott and your clients could lead to thousands in revenue.
💰 Revenue Potential: $5,000–$15,000 per client
⚡ Low Effort Strategy:
Offer a family wealth protection review with Grant Abbott (identify risks).
Upsell Family Protection Trusts, Testamentary Trusts, and Buy-Sell Agreements.
Use Legal Back Office and LYD for easy execution.
3️⃣ Prepaid Business Advisory Packages
Why?
Most accountants provide reactive tax services, but proactive cash flow & strategy planning is where the money is. By offering fixed-fee advisory packages, accountants get paid upfront with minimal ongoing work.
💰 Revenue Potential: $5,000–$15,000 per business annually
⚡ Low Effort Strategy:
Offer prepaid CFO-lite services (quarterly reviews, tax minimisation, cash flow forecasting).
Automate reports using AI-driven financial tools - do the LY Training Group AI 101 training for Accountants with Grant Abbott on 19 March - www.lightyeartraininggroup.com.au
Use templated strategies to streamline delivery.
Bonus Tip:
Turn these services into SUBSCRIPTIONS!
Instead of charging per task, accountants can create monthly plans for ongoing revenue with minimal additional work.
Join the LYD Pinnacle package where you are mentored and held accountable for a year - see your revenue skyrocket. Contact Ben - ben@lyd.com.au
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