Time and advice documents
10th September of 2021

I was settling in over the weekend – kids playing in the backyard, a strong coffee, and an open agenda (thanks to lockdown). I thought about how our team has advice production down to a fine art, and how this compares to the amount of time it would take an adviser – and more importantly, how an adviser could better spend his / her time.

The answer wasn’t easy to find as the compliance burden has grown significantly, but here’s one of the better articles I’ve found – though it is a bit dated. The key points raised in the article lend themselves to making advice easier, but the key takeaway is how long it actually takes an adviser to write an SoA.

Complexity and depth play a big role in how long advice can take to produce – the more complex it is, the longer it will take. It is also very unlikely that an adviser will be able to focus solely on advice production with other day-to-day tasks and the requirements of running a business.

We have found that an average adviser will produce 40 SoAs per annum. In businesses that have an abundance of prospective clients, this can either be a blessing or a curse. As a business owner, it is vital that you are able to capitalise on these opportunities, instead of wading through wizards and modelling tools.

Our SoA request tool is a digital interface built with the adviser in mind. We have been able to remove the back and forth between adviser and paraplanner by ensuring that nothing is overlooked. Our technology is backed by an incredibly talented team that want to make sure that you have a seamless experience on our platform.

Instead of spending your time with compliance requirements and ensuring that your document is professionally and well put together, let our team do this for you. For 10 years, we have been able to transform the way practices build advice documents.

If you’d like to find out more, reach out to me on info@planlogic.com.au, and I’ll be happy to take you through how we can support your practice.

Jay Beckton
Head of Partnerships