When business owners face financial distress, they are often met with a confusing range of voices including accountants, lawyers, insolvency practitioners, and an increasing number of so-called “pre-insolvency advisors.”
We do not identify with that last group. At Thryvv, we call ourselves Director’s Advocates for good reason. Here’s why.
1. The “Pre-Insolvency” Industry Is Not Regulated
Anyone can call themselves a pre-insolvency advisor. There are no qualifications, no professional standards, and no regulatory oversight.
We believe directors deserve better.
Our team includes professionally qualified accountants and bookkeepers, and we operate in accordance with the APESB professional standards that govern accountants in Australia. This means we are bound by ethical frameworks, quality assurance, and continuing professional education.
Read: How We Stay in Compliance with APESB Standards as Director’s Advocates
When you work with a Director’s Advocate, you can be confident that the advice and support you receive meet the standards expected of a qualified financial professional.
2. We Take a Consultative Approach, Not a Transactional One
Much of the pre-insolvency industry is built around transactions such as filing, debt restructuring, or winding up, with very little attention given to alternative strategies.
Our approach is different. We take the time to understand your business, your pressures, and your personal position before we recommend any course of action.
We actively seek to avoid insolvency where possible, exploring turnaround, refinancing, and restructuring options that preserve value and control.
If we do recommend a formal insolvency process, it is because we genuinely believe it is the most appropriate and defensible path forward, not because it is the only one we offer.
3. We Stay With You Throughout the Journey
Financial distress is rarely straightforward. Circumstances change, numbers move, and outcomes shift. That is why our Director’s Advocates stay with you for the duration of the project.
If things change, we adapt.
We have supported directors through everything from refinancing negotiations to court hearings where our financial assessments have been relied upon. We go to those lengths to ensure directors are properly represented and supported.
For us, advocacy means more than advice. It means standing beside you when it matters most.
4. We Help Beyond Financial Distress
While many come to us during a crisis, our work often extends much further.
We help business owners:
- Establish governance and compliance frameworks
- Secure external investment or prepare for capital raising
- Transition their business to the next generation
- Prepare for mergers or sales that maximise value
Our goal is to build clarity, control, and confidence so that every director can move forward with purpose.
5. We Know What We Are Not
We are not lawyers or tax accountants, and we do not pretend to be.
We have heard many stories of pre-insolvency advisors charging large sums for questionable legal documents or unqualified advice. That is not how we work.
We handle the financial and commercial side of the process. We ensure strong financial controls, accurate reporting, and a clear strategy. When legal assistance is needed, we bring in the right professionals and hold them to account to achieve timely and effective results.
Our role is to project manage the process, provide the financial discipline and arguments that support directors and their legal teams, and coordinate everyone involved to deliver a strong outcome.
The Bottom Line
We call ourselves Director’s Advocates because that is exactly what we are.
We are not here to sell a process. We are here to protect, support, and represent directors through some of the most challenging periods of their professional lives.
We bring structure to uncertainty, financial discipline to complex situations, and a human approach to a system that too often overlooks the people at its centre.
If you are facing financial pressure and want to understand your real options, not just the insolvency ones, we are here to help.
Need a Director's Advocate?
Book a Strategy Call with us
Book a free strategy call with us today and take the first step toward getting back in control. We’ll help you understand your position, weigh your options, and build a clear path forward — without judgement, pressure, or jargon.
