Dealer group Lifespan Financial Planning has launched a new service that aims to provide further support for existing self-licensees and those advice businesses wanting to transition to their own individual AFSL.
The new service, Lifespan Partnership, will cater to both current self-licensees or aspiring self-licensees who prefer the freedom of individual licensing but also understand that a level of support, tailored to their needs is invaluable in today's ever-changing industry, according to a statement.
Lifespan said its support services are grouped into four modules, comprising: virtual services; practice consultancy; compliance; and education and training. The modules can be mixed and matched according to each individual self-licensee’s needs.
The modules are also available as pre-packaged bundles designed to suit a self-licensee’s typical life stage, Lifespan said.
As an example, it said more experienced self-licensees would typically require less formalised support, whereas a newly established self-licensee would typically require full support to guide them through the earlier stages of their AFSL journey.
The offering also includes a ‘Partnership Program’, which comprises around 40 peripheral service providers supplying services that pertain to either AFSL obligations or those that promote operational efficiency.
These include services such as SOA software generation through to paraplanning, marketing and investment consulting, Lifespan said.
Lifespan chief executive Eugene Ardino said the creation of Lifespan Partnership was prompted by the increase in demand for individual licensing in the wake of the Hayne royal commission.
“We experienced a marked increase in interest for individual licensing across 2019. The greater degree of freedom that it allows is certainly appealing for many advisers, but we recognised an opportunity to add to that proposition by offering the security and convenience of best-of-breed ancillary services,” Mr Ardino said.
Lifespan national practice consultant Jill Tunkin will head Lifespan Partnership. She said the design of the support services was based on the many discussions she had with self-licensees over past years.
“The advisers I spoke to invariably voiced their desire for services that suited their individual needs and preferences,” Ms Tunkin said.
“They wanted a vast network of peripheral services and contacts to be provided at their fingertips and an engagement level that they wanted to control. So, I have endeavoured to provide this in the Lifespan Partnership offering.”
Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.
You can contact him on [email protected].
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