Compliance

When a Good Practice Decides to Become Exceptional
A practical note on structural refinement and clarity Most advice businesses we meet are already performing at a high level. Clients are well cared for, revenue is stable, compliance standards are met and the team operates with professionalism. From both the outside and inside, the business feels solid. There is no crisis…
The Secret is Out: The Official Client List
For years, many financial planning businesses have been operating with a hidden weakness. It is not always obvious from the outside. The advisers may be capable. The clients may be loyal. Revenue may be recurring. The team may be busy. The CRM may even look full and active. But underneath, one basic question often remains…
Why Financial Advice Accountability Legislation Needs to Change Now
After my article in the IFA on CSLR and the accountability gap we currently see in Australian financial advice, I have had a number of people ask what specific legislation needs to change to tighten up accountability. Here are my thoughts…
CPD – Unlocking compliance efficiency in Xplan
Compliance is one of the biggest friction points in advice – but it doesn’t have to be. Developed by Iress Xplan expert Courtney Youngblutt, this guide explores how to embed Case Benchmarks into your Xplan workflows — turning compliance into a streamlined, auditable process. Learn how to reduce manual oversight, increase…
Unlocking compliance efficiency in Xplan
Compliance is one of the biggest friction points in advice – but it doesn’t have to be. Developed by Iress Xplan expert Courtney Youngblutt, this guide explores how to embed Case Benchmarks into your Xplan workflows — turning compliance into a streamlined, auditable process. Learn how to reduce manual oversight, increase…
The outsourcing paradox
With practices now serving an average of 98 recurring clients while reducing administrative support by 8% and paraplanning resources by 9%1, the pressure to outsource has never been more acute. But what if the solutions we're implementing to make our practices more efficient are actually creating our biggest regulatory…
Advice Compliance
What is the Advice Compliance "hub"? Why would I use it and when?
Ask an Expert: We helped an advice practice map out their entire review process, ask us anything!
Have you tuned in to episode 2 of the new Advisely Growth Masterclass series? If not, I highly encourage you to check out the second episode here. To achieve the efficiencies and scale needed to safely grow their business, Twomeys had to make some big back-office decisions. In this episode, the Tangelo team help them…
Free tool: Mastering advice efficiency checklist
This comprehensive checklist, put together by Tangelo Advice Consulting, is your cheat sheet to achieving greater efficiency in compliance, processes, ongoing service, SOAs, and tech. Download it now to discover the efficiency gaps and opportunities to step up your advice efficiency today. Become an Advisely member here to…
CPD: Mastering advice efficiency checklist
This comprehensive checklist, put together by Tangelo Advice Consulting, is your cheat sheet to achieving greater efficiency in compliance, processes, ongoing service, SOAs, and tech. Download it now to discover the efficiency gaps and opportunities to step up your advice efficiency today. Please ensure you have…
Striking a balance
In our recent blog, we discussed the importance of striking a balance between efficiency and compliance. What practical steps have you take to get this balance right in your business? Are there any tools/solutions you would recommend?
Efficiency and compliance: striking a balance
Running a successful financial planning business while ensuring efficient and effective client service/engagement is paramount. But how do we balance this with compliance, which is often seen as stifling innovation and efficiency? Here are three aspects of advice efficiency and how can they seamlessly intersect with…
What is limiting your efficiency?
It seems between compliance requirements, size of advice documents and the general administration practices need to keep up with, no one is feeling at the top of their game. I would love to hear what areas you are struggling with, or if you have found some solutions that may be helpful to us all!
What is your #1 efficiency tip for this year?
Are you streamlining client comms? Automating documentation? Updating your compliance process? Whether you are in the midst of planning, or are already in BAU - what is your number one efficiency tip for this year to ensure you are effective and able to achieve your 2024 goals? Let us know!
Cyber crime: a driver of sleepless nights?
Advice businesses across Australia are all faced with the increased threat of cyber incidents. Many hold data that is very sensitive about a client’s situation – whether it be health, tax or banking. Despite the increase in automation, there are still emails and files that can compromise a business. Sometimes these can be…
Who proactively asks their software stack providers about security?
The results are in from ASIC's Cyber Pulse Survey, and the report has been released (12th November 2023). So much to unpack! One of the points they make is around supply chain risk. Without looking at the survey, I'm interested to know your thoughts on the percentage of advice firms that have already asked their software…
Are you Registered as a Financial Adviser?
In late November, ASIC confirmed that all financial advisers would need to be registered by the 1 February 2024 deadline in order to continue to provide personal advice to retail clients. This new obligation, which includes advisers making a declaration of fit and proper status, was part of the 2021 Better Advice Bill. The…
Does everyone understand the “why”?
When working with clients, we are often asked to focus on processes and governance so the business can minimise their risks while driving efficiencies and reducing costs. We often find what happens “on the ground” could be their biggest risk. How often are you engaging with staff who are making sure the “doing” is getting…
What has been holding up the adviser registration process?
Part of the Hayne Royal Commission recommendations was to add a new registration process for advisers. You might wonder why, given that we already had a Financial Adviser Register. Well this registration obligation contains more, including a fit and proper declaration. The primary hold up was a legislative change that the…
3 ways improving processes can speed up your SoA creation
Creating a Statement of Advice (SoA) is a critical aspect of a financial adviser's role, providing valuable insights to clients and ensuring regulatory compliance. However, the time and effort involved in crafting a comprehensive SoA can be substantial. While every adviser will have their own system and plans, Iress'…
Will QAR go far enough?
A two part question for all our Advisely Experts and Board Members - with Minister Jones handing down the first part of the draft QAR legislation this week, do you think he'll go far enough to make a material impact for most advisers? And secondly, what's the one thing you think must get through? @Tangelo @Peter.Worn…
Navigating common challenges in advice businesses
Running a business can be very rewarding but it’s not without its challenges. And in an industry where we are faced with ongoing change that could disrupt our business, it’s important to focus time and resources to minimize disruption as much as possible. While there are many things that can be implemented, this article…
I'm Selin Ertac, Advisely compliance and advice process expert
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Is the SOA worth the paper it’s written on?
At more than 50 pages in length, statements of advice (SoAs) in their current form have become unwieldy documents that take at least 6.5 hours to produce and which many clients will never fully read. The shortcomings of the document are not lost on the industry, with a key recommendation of the Quality of Advice Review…

Compliance

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