What is the optimum support structure for financial planners? This is a question that I am asked more and more often. In our current advice environment, there are has never been more pressures on business owners.

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