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.
Stimulate new ideas. Stimulate new thinking. Top up your CPD points and hear from industry experts with ifa’s Knowledge Centre. Keep up to date with the latest trends and reforms, all while adding to your CPD hours. Explore the Knowledge Centre now.
IOOF has completed the first phase migration of its legacy platforms and products on new proprietary super and investments platform, Evolve. ...
The Administrative Appeals Tribunal has rejected an adviser’s appeal for review of an ASIC banning order after he failed to show in court. ...
ROAR Software and Fin365 have partnered up for a new integrated solution. ...