In a statement released on Tuesday, Count Financial said it had seen a 31 per cent increase in the number of advice documents delivered in the quarter to March, despite adviser numbers dropping by 19 per cent compared with the same quarter last year.
The group put this down to business enhancements over the past six months focusing on improving the technology solutions and integrations used, particularly around the client onboarding process and the efficient creation of SOAs.
Count Financial chief advice officer Andrew Kennedy said the licensee was committed to developing a framework to help its advisers deliver services more efficiently and comprehensively.
“We believe as much as 80 per cent of the problems in practice are process, with only 20 per cent down to the people in the business,” Mr Kennedy said.
“Through the use of technology, we will enable our advisers to find more time each week for working closely with their clients to help them achieve their personal and business goals.”
Mr Kennedy added that the group continued to see demand from accounting and financial planning firms to join its network despite the current challenging environment.
“Although the advice industry is in a period of turmoil and adviser movements are higher in the past two years than they have ever been, we are encouraged that we are fielding inbound requests to join our network from well-established and trusted converged accounting and advice businesses,” he said.
He added that preparations at Count Financial for FASEA’s professional year program were also well underway, with the licensee having created a four-stage support program to help advisers bring on new starters.
You could achieve a surge of 50% by getting rid of XPLAN ??♂️
This productivity surge is simply an increase from a very low number. It’s what happens when you leave CBA’s strangling compliance, which had nothing to do with servicing clents, and everything to do with reporting to ASIC for regulatory purposes amidst severe blowback from the Royal Commission.
When a listed company is celebrating the number of advice documents written, make sure you’ve already sold your shares. This is embarrassing news, you guys should cut the retainer you’re on to spread this garbage.
So how many new clients in that 31%
This would have nothing to do with the TFS advisers having to write transitional SoAs for their clients? How is this newsworthy?
Of course not! How could that be? Impossible….. /s
This is what happens when you force out large numbers of advisors and keep their clients.