As an accountant or lawyer, you’re often the first to see the warning signs that a client’s business is under stress. Whether it’s mounting tax debt, suppliers pressing harder for payment, or a contract dispute that tips cashflow into the red, your instinct is to guide and protect.
But here’s the challenge: insolvency is a specialist area. You know enough to recognise the risks, but not always enough to confidently map out the full range of options. And with your client relationship on the line, referring them into the wrong hands can feel risky.
That’s why timing and trusted partnerships matter so much in insolvency.
The Referral Risk You Can’t Ignore
For many professionals, the fear isn’t just about the client’s business collapsing, it’s about losing the role of trusted advisor in the process. Larger insolvency firms often sideline accountants and lawyers once appointed, limiting communication and leaving you out of the loop. Your client feels abandoned, and your reputation suffers alongside theirs.
At Insolvency Options, we work differently. We see accountants and lawyers as partners in the process. Our Virtual Insolvency Partner program (VIP program) approach ensures you’re kept in the conversation and supported with timely updates so your client knows you’re still by their side.
Why Early Action Creates Better Outcomes
Every week counts when a business is in distress. The earlier you connect your client with a specialist, the broader the menu of options available:
- Small Business Restructuring Plans allow directors to retain control while negotiating with creditors.
- Voluntary Administration can provide breathing room while restructuring debts.
- Deeds of Company Arrangement can protect viable operations from being wound up.
But these options are only viable if engaged early. Wait too long, and liquidation may be the only path left. By referring your client at the first signs of distress, you protect not just their business but also your professional standing.
Strengthening Your Role as Trusted Advisor
We see at times some lawyers and accountants hesitate to introduce insolvency specialists because they worry it signals “the end.” In reality, early engagement often strengthens your role:
- You demonstrate proactive care, helping clients see you as the advisor who acted early, not the one who waited too long.
- You gain access to specialist knowledge you can’t (and shouldn’t) try to carry alone.
- You retain oversight of the relationship, with full transparency and collaboration throughout.
Insolvency Options exists to strengthen your role as a trusted advisor, while giving your client the clearest path forward.
A Human, Empathetic Approach
We also know insolvency isn’t just numbers and law. For clients, it’s personal. Their staff, their family, their legacy. Everything is tied up in the outcome. Our human first approach balances empathy with commercial truth, making difficult decisions easier to face. That tone matters for your client relationships too.
A Conversation Costs Nothing, Waiting Can Cost Everything
As a professional, you don’t need to carry insolvency expertise on your own. What you do need is a trusted partner who can step in quickly, preserve client relationships, and protect outcomes.
If you have a client showing signs of distress, don’t wait until options are gone. Connect with us early. Together, we can protect your client’s future and your position as their trusted advisor.
Book a confidential consultation with Darren
Want to go deeper?
For more insights into business recovery and debt solutions, listen to the i.O. — Insolvency Options podcast wherever you get your favourite podcasts. Each episode breaks down complex insolvency processes in plain English, with real world examples to help accountants, lawyers, and business advisors guide their clients with confidence.