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
- 19 Oct 2018Life insurer fires 50, kills outbound sales businessBy James Mitchell
- 19 Oct 2018Strategic plan for AFCA releasedBy Eliot Hastie
- 18 Oct 2018Clique Paraplanning launches practice portalBy Reporter
- 18 Oct 2018Challenger announces new Netwealth dealBy James Mitchell
- 18 Oct 2018Aussies say royal commission won’t change their view of adviceBy James Mitchell
- 18 Oct 2018Hire younger advisers to get younger clients, paper suggestsBy Adrian Flores
- view all