About PlanAce
Our passion is providing the highest quality paraplanning support to financial advice businesses. Coming from a financial planning background, we understand how important the adviser's time is. Whether it is spent sourcing new business or providing ongoing advice to existing clients, every minute counts. We provide advisers with more time to do the work that makes a real difference, giving advice.
The Team
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Liam
Senior Paraplanner & Partner
Liam began his financial services career in 2007 and has held both paraplanning and financial adviser positions in a number of the country’s top financial institutions.
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Garth
Senior Paraplanner & Partner
Garth began his financial services career in 2009 and has held paraplanning positions in a number of the country’s top independent advice businesses.
Our Services
Advice Documents
From simple Records of Advice to complex Statements of Advice, we offer a full range of advice documents designed to illustrate Adviser recommendations in an easy to understand format, with particular emphasis being placed on the value of the advice being provided.Strategy Consulting
Choosing the best strategy for your client is not always straightforward. Just send us the strategies you wish to be considered and we will crunch the numbers for you which will be sent through in a strategy work paper with a comparison of the scenarios considered in terms of net assets, cashflow, tax and Centrelink, ensuring your recommendations are backed by hard evidence.
Why outsource your Paraplanning?
The mathematics of financial advice is simple – The more clients you see, the more advice you can provide and the more revenue you are able to generate.
We understand that the biggest roadblock in achieving this is negotiating the maze of documentation and compliance requirements. Since the introduction of FOFA, advisers are spending more and more time doing administration and less time doing the job they love. Outsourcing your paraplanning is a simple and cost effective way of reducing the administration load.
As an advice professional you have three options for producing your Statements of Advice, they are:
Do It YourselfThis is a cost effective option for new advisers, however it is easy to get bogged down during this critical time for your new business. Your time would be far better spent growing and building referral relationships and providing exceptional service to new clients.
The opportunity cost of writing your own plans makes this option the least suitable for adviser. If you are charging professional fees of $330 an hour and you work on a plan for 5 hours that is an opportunity cost $1,650.
Hire an Internal ParaplannerThis option is continually growing more expensive for advice businesses. Due to the high level of technical skill, industry knowledge, education and expertise required to produce compliant advice documents the average salary of a Paraplanner is on the rise. You can expect to pay between $60,000 up to $100,000 per annum for a quality Paraplanner and the salary is only one of many expenses when hiring a new staff member. Other expenses include Super, leave pay, sick pay, workstations, insurance, training… the list goes on.
OutsourcingOutsourcing your paraplanning is a cost effective and efficient way of producing the documents required to formalise your advice. When you add up the opportunity cost of doing your own plans and the high cost of hiring an internal staff member, outsroucing makes financial sense. If your business is averaging 2 plans per week at an average cost of $380 per plan, this will cost your business $35,000 per annum. Outsourcing makes business sense – low annual cost, professional service, and high quality compliant documents every time.
Get in Touch
Get in touch today and let's start a discussion, all consultations are free.