Does My Practice Need to Partner Up?
18th June of 2020

COVID-19 has jolted a lot of us and forced us to relook at how we do things. From running a business over Zoom to effectively homeschooling our kids to finally taking up cooking – the pandemic has pushed us beyond our self-imposed boundaries. How many opportunities have we been missing out on because we’ve conditioned ourselves to only doing things a certain way?

We see that many practices consider partnering with companies like Planlogic for their paraplanning and ongoing advice requirements, but aren’t sure about whether to take the leap. Perhaps you have become accustomed to your ways of doing things. Perhaps you aren’t sure about the benefits to your business. Perhaps you are just hesitant about making such a big change. 

But now is the time for new ideas, and here’s why we think you should consider partnering with a specialist provider –

It’s Cheaper – and More Efficient

While you might think that partnering for your paraplanning and ongoing advice requirements is costly, what you really need to think about is how much time you will be saving – and how you could be investing this time with your clients to grow your business. Add in the costs of hiring your own staff, expanding office space and paying higher utility bills to the equation, and you will soon find that it is far cheaper and more effective to partner.

Besides the cost of having to set up your own in-house operation, you are also saving yourself the hassle of managing it. Partnering means that you are effectively detaching yourself from the worries of hiring – and training – your own staff. It means that you are effectively piggybacking on the years of investment made by a specialist provider – in turn allowing you to free up your capital and focus on growing your business.

With a partner, you are also alleviating yourself from the troubles of not meeting those critical deadlines due to leave and resignations. The right partner will stay committed to delivering your workflows no matter the circumstance.

Unparalleled Compliance

Provided that you partner with someone reputable, you can be rest assured that you will stay compliant and not have to worry about the industry’s regulatory burdens. At Planlogic, we understand these issues, and are committed to helping our advisers navigate this landscape – especially around 515 compliance – while restoring profitability to their practices. If you are staying away from a partner firm solely from a cost saving perspective – think about the opportunity cost of investing time to do this yourself, the subsequent stress of not getting it right and then losing money as a result of the poor outcomes.

At Planlogic, we take compliance very seriously, and ensure that all our staff stay abreast of any changes in regulation. We have also developed mechanisms that give our advisers peace of mind. For example, one of our offerings contains an end-to-end compliance checklist that is provided to the adviser with each SoA that we produce.

Data security 

We understand how important data security is to your business – it is no different for us. Given that we serve a number of practices across multiple dealer groups, we ensure the highest level of data security. We have implemented both physical and non-physical checks and robust training procedures within the company, and are also ISO/IEC 27001 compliant. You can find out more about the systems and processes we have in place here and read our recent article on how data security was our utmost priority when transitioning to a remote working environment.

While this article covers some general issues, we understand that you may have specific concerns that are holding you back. We would love to hear from you, and help you crack these problems to run your practice in the most efficient way. Book an appointment on our website or email our Head of Partnerships, Jay Beckton ( and we will get in touch.