There are any number of providers that will, for a modest fee, assist you in obtaining your license and provide you with all the templates and infrastructure, for you to run your AFSL your way. You just need to spend a bit of time setting it up, pay your professional indemnity insurance, join FOS and then you won’t have to do much again after that!

All of this can and does work well for some. However, the reality is that the fees to properly maintain a license, once you take your time into account, are probably no more or less than what a good licensee would charge a firm of your size.

You are the master of your own destiny. You can do what you want, use any product and strategy and invest your clients in what you want without limitation. Keep all the revenue. Have greater control. All this while, if you’re the responsible manager, trusting those giving advice under your license to do the right thing because if not, ASIC talks to you.

Do you really want to take on board managing that risk ?

There is an alternative that retains the options and flexibility in having your own AFSL, however removes you from the compliance side of running your own License.

Insight Investment Services is a small boutique licensee with a 12 year history. A history that has an untarnished reputation.

Contact us for more information on how you can benefit from being associated with a boutique AFSL. Call us on 07 3018 0400 or email info@insightinvestments.com.au.

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Several come to mind such as:-

• High levels of regulatory compliance
• Time required to deliver end to end advice process
• Shortage of experienced support staff
• High cost of support staff
• Shortage of experienced and qualified financial planners

All of these issues impact on our ability as advice businesses to deliver on our value proposition and ensure we maintain profitability.

Many businesses have operated with two primary support roles. A paraplanner and customer service/administration support role. There is an argument that this model could be improved by the addition of an associate financial planner role. This could be a licensed role which enables duties to be widened. The key duties of this role are typically – supporting financial planners in client meetings/strategy preparation/client enquiries. This is a role that could receive mentoring and support for the person to progress becoming a senior financial planner.

A support structure including the Associate Financial Planner role would enable the financial planner to manage a significantly larger client base.

What is the most appropriate support structure for your business? Do you have someone to discuss this and other critical issues with? I would be happy to hear from you.

Insight Investment Services is a small boutique licensee with a 11 year history. A history that has an untarnished reputation.

The Profile of those who may find us suitable:-
If you are someone who

• Has no or minimal succession planning
• Would like the business to be better aligned to EBIT business valuation multiples
• Has a mature practice that is largely self sufficient
• Wants to divest themselves of the risk and expense of running your own license
• Only wants to pay for Licensee fees that you actually use
• Wants to run their practice their way
• Has a practice of 2 or more advisers
• Wants to be associated with a long established AFSL with no baggage

Contact us for more information on how you can benefit from being associated with a boutique AFSL.
Ph 07 3018 0400 and ask for Paul Kelly.  Or email info@insightinvestments.com.au

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You probably suggest they commence planning for their future before they reach their preferred retirement age? You would run through a whole range of important issues when discussing their retirement plan. Minimising potential risks to achieving their goals would be a regular discussion point.

Attention AFSL holders! Do you have a retirement plan for your AFSL?

You are a financial planner with your own AFSL. Have you thought about the future when you may wish to retire? At Insight Investment Services we have been assisting Principal’s exit their AFSL business for some years.
I would like to share some key facts:

Key facts

• The value of your business to a purchaser will be largely based on the revenue in your advice business.
• It is highly unlikely that your AFSL is worth any monetary consideration to a potential buyer.
• In fact your AFSL holds the liability for advice given by anyone licensed under the business for up to seven years (or longer in some cases) from the date of advice. Therefore, not everything is retired when you exit your AFSL as the liability remains for a period of time.
• Professional Indemnity cover should be maintained via run off cover – if you can get it, the underwriting market is contracting, and premiums increasing.

Do you want to be worrying about ongoing liability when you retire, or booking your next cruise in the Mediterranean? Why not consider planning ahead with at least a 7 year time frame in mind.

Insight Investment Services has a track record assisting AFSL holders to plan for their retirement. We can offer you support to continuing to operate your business as a boutique practice, under our AFSL, without the liability.

Why not consider the benefits and lack of stress by not having AFSL liability as part of your retirement plan.

For a confidential chat about how to plan a stress-free retirement call Paul Kelly, Managing Director Insight Investment Services. By the way I know a good travel agent also! Insight Investment Services is a boutique licensee that has been in operation for over a decade, with an untarnished reputation.

Telephone Paul Kelly on 07 3018 0400 or Email info@insightinvestments.com.au

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