Dealer group Australian Unity (AU) has launched a ‘benchmarking’ tool for its advisers to help them run more efficient practices.
AU personal financial services chief executive Steve Davis said the Best Practice for a Financial Planning Business program was developed in consultation with successful advisers and industry experts to provide a framework for best practice.
“In developing this program we first looked at finding out the best way to perform each task in the financial planning process, who should ideally perform that task, and finally, how long it should take to complete,” he said.
“The ‘Practice Optimisation’ software, which is the lynchpin of the program, is easy to use. Our advisers simply answer the questions in the Best Practice spreadsheet and then a results dashboard is automatically produced so the adviser can easily and quickly see the areas which need addressing.
“It also helps advisers who are in a strong growth phase to determine when they are likely to need to add staff or other resources,” he said.
Davis said the program is part of the 100 adviser-strong licensee’s broader Xplan-optimisation initiative and complements other efficiency measures that AU has adopted.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 21 Sep 2017Advisers not fully aware of LIF impacts: ZurichBy Staff Reporter
- 21 Sep 2017Red tape forces SMEs to cut staffBy Adam Zuchetti and Aleks Vickovich
- 21 Sep 2017Bitcoin 'dangerous and speculative', says MagellanBy Tim Stewart
- 20 Sep 2017ANZ calls for adviser transparencyBy Killian Plastow
- 20 Sep 2017Labor slams mooted ASIC appointmentBy Aleks Vickovich
- 20 Sep 2017‘Modest start’ for Australian super fundsBy Jessica Yun
- view all