Taking an In-depth Look at the Services Provided by Lifecycle and The benefits They Bring to Accountant Members

4th February 2019

By Rik Heap, Director of Lifecycle and Leonard Curtis Business Solutions Group

In this latest look at the Lifecycle accountancy network, we meet with Director Rik Heap to find out more about the many service lines offered to member accountants through this easy-to-access hub of SME problem solvers – all provided by its parent company, Leonard Curtis Business Solutions Group (LGBSG).

At Lifecycle, we like to think that we’re there for accountants for whatever they need and whenever they need us, at every stage that a client’s business reaches. By providing such a wide range of specialist services, we can help plug those non-core or specialist gaps that our members have from time to time.

As well as providing an ongoing programme of free CPD, the professional service lines we offer include: Company secretarial and formation; equity finance for SMEs; debt advisory for SMEs; personal debt advice; corporate restructuring, insolvency and cessation; debt finance for SMEs; cashflow maximisation; property solutions and legal services.

Here Rik takes us through some of Lifecycle’s service lines and we look at the benefits they bring to our Lifecycle members.

How can you help with company secretarial and formation services?

Setting up a new company is normally a straightforward process that can be done online. But at times there can be complications and, when this happens, legal input is often required. This can be both time consuming and costly.

With support from our partners at Business Tax Centre, Lifecycle provides members with a full range of company secretarial services to help set up a client’s business as well as providing that all-important ongoing assistance that’s required from time to time.

Since the introduction of new Money Laundering Regulations in June 2017, more members are coming to us for help to meet anti-money laundering due diligence obligations. The simple yet effective process that we offer has been welcomed by our members, as has the helpline that advises on those verification issues or grey areas that frequently come to light.

Even better news is that Lifecycle members are eligible for discounted rates. For further information on how we can support your company formation offering to client visit here.

 How do you support members whose SME clients need to raise debt finance?

This is a very popular service line and we’re regularly approached by Lifecycle members who need to help their clients with funding issues. This is where our commercial finance specialists, Reach Commercial Finance, come into their own. The products they offer include invoice finance, asset finance, property finance and cashflow loans.

Unlike many other similar providers, the Reach team always begins by taking the time to get to know our members and their clients – ensuring they fully understand all requirements from the outset. Another benefit of this service is the close relationship Reach CF has with funders. In fact, it’s the strength of these relationships that gives us the time and ability to find the most appropriate solutions.

That’s how Reach CF has completed over 500 transactions and raised more than £250 million in finance over the last three years alone. Find out more about our how it can help you best support clients in need of debt finance services here.

 How can you ensure that clients are getting the most out of their invoice finance facilities?

For those members whose clients use invoice finance, Lifecycle’s cashflow maximisation service line – and our specialist Optimise product – can ensure that they’re getting the most out of it.

Designed to help accountants and their clients manage working capital more efficiently, Optimise provides monthly reports to highlight where their invoice finance facility is working and the areas in which it can be improved.

To make it even easier for members to use, it’s supported by a dedicated helpdesk for any questions accountant members and their clients may have.

More information on the member benefits of Lifecycle’s cashflow maximisation services – and the impact they can have on their clients’ businesses – can be found here.

What services do you provide for those innovative SMEs in need of funding for rapid growth?

Our equity finance offering is a valuable resource for Lifecycle members whose clients find themselves in this strong position.

By partnering with equity specialist Aqvvs Capital – which is well-placed to secure investment that would otherwise be hard to find – we’re delighted to say that we’re helping many of members’ clients to do just that.

Aqvvs Capital assists businesses that require between £50,000 and £1 million to grow or those seeking assistance with a stressed or distressed trading issue. More on Lifecycle’s equity finance service line and Aqvvs Capital’s approach can be found here.

Do you provide any specialist services for those accountants whose members specialise in the property sector?

Leonard Curtis Property Solutions (LCPS) advises and supports these accountant members with the management of distressed real estate portfolios or a fractured lending facility.

As experts in this area, our team at LCPS understands the issues affecting landlords and works closely with them to try to find a solution that can save a portfolio and repair the facility by securing payment holidays or implementing capex programmes, for example.

If remaining with the existing lender isn’t possible, we can also successfully refinance portfolios through our network of specialist funders and brokers. For those clients seeking to acquire property, our RADAR network gives access to a whole host of distressed properties for a wide community of active buyers  in commercial real estate.

 Find out more about Lifecycle’s property solutions service here.

Not yet a member of the Lifecycle network? Sign up for free here.

03300 242 3333