Self Licensed Solutions.

Transcription

1 Self Licensed Solutions.

2 Helping to drive greater efficiency and growth for your business To thrive in a rapidly changing industry, you need to align yourself with the right people and partners; those who can provide support where it s needed and who are committed to working actively with you to keep you ahead of the curve. Licensee Select works with business owners who run their own Australian Financial Services Licence (AFSL), providing them with access to a range of quality dealer services to help them reach their full business potential. With a wealth of experience, we know that business owners want choice, flexibility and support navigating through regulatory change, whilst also having access to a community of like-minded businesses. As a member of the Licensee Select community, you have the ability to select from a range of market-leading practice services designed specifically to increase the efficiency and value of your business, whilst continuing to provide quality advice to your clients. Why choose Licensee Select? Protect your licence, your brand and your reputation. Be part of a select community with a culture of innovation and growth. Access tailored practice solutions across market-leading practice services, delivered in a way that makes sense for your business. Leverage the Licensee Select team and broader BT Financial Group to ensure services developed remain relevant and drive practice success. Learn with and from your peers within a comprehensive professional and ongoing development framework. 2 SELF LICENSED SOLUTIONS

3 Our self licensed solutions Our vision is to deliver market leading practice management solutions and efficiencies to protect and grow wealth management practices. Research and strategy Licence governance support Advice documentation and paraplanning BT platform and product services Professional development Your Practice. Marketing services Financial planning software solutions Technical consulting Strategic consulting programs Risk management and compliance Our advice community of likeminded advisers SELF LICENSED SOLUTIONS 3

4 Licence governance support We partner with your business to assist you in managing your obligations as a licensee. Our team is highly skilled and commercial in their approach, with extensive regulatory and governance experience. Initial licensee health check We will seek to recreate a visit from the regulator in the context of reviewing your licence obligations, helping you to ensure you have adequate arrangements in place to manage them. You will receive a detailed report on your operational policy, processes and procedures which will highlight any specific actions required. Consulting services Access a corporate governance specialist who can provide expert guidance on a range of licensee matters including: Responsible manager requirements and selection Complaints handling and compensation procedures Managing regulatory relationships and breach reporting obligations Risk management framework Attendance at compliance committees and responsible manager forums Advice on system and process requirements Policy and procedure review. Responsible manager forums and webinars These forums allow Responsible Managers to come together to discuss compliance developments and industry issues or trends. We will help you make sense of changes or issues that may challenge or impact the way in which you manage your licensee obligations or the day to day management of your business. Licence application and variation support We will help you step through the process of applying for your AFSL or Australian Credit Licence, and work with you to ensure that the process is managed in the most streamlined manner possible, minimising any disruptions to your normal operating rhythm. Should you need to vary your licence due to a change in the services your business provides, we will assist you in submitting your variation application to ASIC. As with the application process, our involvement is designed to provide a streamlined outcome when liaising with the regulator. 4 SELF LICENSED SOLUTIONS

5 Risk management and compliance In an increasingly rigorous regulatory environment, we work closely with you to help ensure that your compliance obligations are met. Our approach is to interpret and communicate compliance requirements in an easy to understand and practical manner, enabling you to conduct business with confidence. Adviser file reviews Our compliance review process consists of a full assessment of up to four client files per adviser. The review will typically include a preliminary discussion to ascertain an understanding of your business in addition to a debrief on the findings, a summary report and remediation recommendations where required. The process is designed to be consultative and endeavours to highlight industry best practice, assisting with suggestions in relation to the adoption of these where relevant. Compliance manual Our online compliance manual is designed based on our expert knowledge and guidance. The manual, which you can tailor to your business, consists of advice policies and procedures and is complemented by a range of tools to assist you in operating a compliant business and meeting your associated obligations. The compliance manual is maintained by a team of policy specialists and updated in line with legislative change and industry best practice. Compliance communications Our regular newsletter keeps you in touch with industry changes regarding legislation, regulation and best practice. Teleconferences or webinars focusing on selected industry and regulatory updates may also be held. SELF LICENSED SOLUTIONS 5

6 Research and strategy Our Advice Research team provides solutions based quality Research offer. The team operates an end to end model that promote the best outcomes for your clients and supports your fiduciary obligations. Core offer A team of investment professionals, with a wealth of industry experience is dedicated to offering: Full spectrum of research across Managed Funds, Equities, Insurance, Products and Structured Investments Approved Product List ongoing review Full range of supporting collateral ; quantitative analysis, thematic articles and fund fact sheets with Ratings summary Open architecture framework. Competitive advantage The BT Advice Research team prides itself on an enhanced full service model that delivers innovative solutions and supports the best outcomes for your clients. Purpose built SMA style Managed Portfolios available on the Panorama Platform Model portfolios with performance reporting and commentary Inc. Objective Based Income portfolio Service and Support: direct access to analyst team with concentrated sector experience plus Investment Specialist all on call via direct phone line and Research on direct investments property, infrastructure Investment Specialist available to present and provide key market updates. 6 SELF LICENSED SOLUTIONS

7 Professional development At Licensee Select, you have the opportunity to attend regular professional development (PD) days, technical master classes, webinars and our annual conference, designed to not only cater to your ongoing continuing professional development (CPD) requirements but to provide valuable opportunities to exchange ideas with other members of the Licensee Select community. Professional development days Earn CPD points in line with FPA guidelines when you attend our interactive PD days. They are designed to help you stay abreast of current issues and are targeted to enhance technical ability. Master classes Our master classes are designed to enable you to be as technically competent as you need or want to be. These classes are run nationally in areas such as estate planning, insurance and portfolio construction. The Learning Channel Kaplan Ontrack Tracker and Trainer Ontrack Tracker monitors all training undertaken, including your online training and any additional training you may complete. It will also generate reports to provide accurate information for training records. Ontrack Trainer provides you with access to the CPD library provided by Kaplan, as well as additional materials provided by Licensee Select from time to time. Annual conference Our annual conference is one of the industry s most successful events, known for its professionalism, networking value, education content and peer learning. Digital education represents a future where you can increase your skills and knowledge without losing productivity. Our interactive Learning Channel provides you with the opportunity to learn from experts and leaders across the financial services industry and beyond. Access short, sharp educational videos that you can view in your own time, at your own pace gaining continuing professional development through content that is relevant to you. SELF LICENSED SOLUTIONS 7

8 Technical support With Licensee Select, you will have direct access to a team of technical specialists as well as receive regular publications to keep you and your clients up-to-date with the latest opportunities and changes. Technical services support Our team of specialists are on hand to assist you so you can be sure you get the answers you need to provide high quality, informed advice. Our technical support consists of the following elements: Technical hotline telephone support Technical team publications e.g. Budget Regulatory reform updates and interpretation Technical consultant in field (staff training) Client engagement through seminars Access to additional online technical resources, such as strategy support. Advice documentation and paraplanning You will have access to a range of easy-to-use advice templates and documentation to help you provide compliant advice to your clients and increase the efficiency of your back office. Through our strong network, experienced paraplanners are also available to support your business during busy periods, or on an ongoing basis. Advice documentation templates and tools A range of template compliance documents and tools are available for you to tailor to your business, including: Financial Services Guide Client fact find Risk profiling and client educational tools Statements of Advice Records of Advice Compliance checklists. Outsourced paraplanning Fee for service paraplanning based on type and complexity of advice, provided by external parties. More detail on categorisation and suppliers can be provided on request. 8 SELF LICENSED SOLUTIONS

9 Strategic consulting programs Unlock access to suitably qualified specialists to provide a range of expert business coaching and mentoring advice. Our whole of business approach focuses on key areas of financials, clients, process and people to help your business reach its optimal potential. Delivering Client Value Our sales skilling and coaching program, Delivering Client Value (DCV), has been developed in association with one of the world s largest and most successful sales skilling companies Huthwaite Asia Pacific. The DCV program will equip you with a proven research-based approach to needs-based conversations in an initial face-to-face workshop where all supporting tools and collateral are provided including meeting plans and agendas. This customised workshop covers both methodology and practical implementation. The program has a number of integrated components across three offerings that are designed to support the development of your whole team with programs designed for leaders, advisers and support staff. Pricing Advice Program One area businesses often struggle with is pricing their advice appropriately for the value they deliver. This specialist Pricing Advice Program (PAP) is implemented over a four month period and has specific outcomes for your business and your advisers covering effective articulation, client acquisition and engagement, service packaging and pricing and more. PAP incorporates an online component to crunch the numbers, create pricing model reports and benchmarking, together with a two-day group workshop to work through the process with a facilitator. This is followed by three individual coaching sessions to allow one-on-one time to discuss your specific challenges and ensure effective implementation of any new fee model across the practice. Strategy Choices Program The Strategy Choices Program (SCP) is a flexible program designed to assist high-growth oriented businesses build, execute and regularly review a robust and sustainable strategy for predictable and repeatable future success. SCP is based on a simple and logical framework, requiring participants to work through key strategy choices as they consider their future success, beyond what they believe to be possible today. The program is aimed at business owners and principals looking to derive more from the business. This is a fully facilitated program incorporating face-to-face workshops and coaching sessions. SELF LICENSED SOLUTIONS 9

10 Marketing services We know that building brand equity is important so we make it easy for you to personalise client facing material whilst ensuring you remain compliant. Our marketing and communication tools are designed to promote your business, your expertise and your brand, helping you target new prospects and provide a high level of ongoing service to your clients. MyDesign Centre MyDesign Centre (MDC) offers a seamless online solution that allows you to personalise a range of client collaterals for use in various marketing activities like direct mail outs, newsletters, sponsorship events and much more. With MDC you are able to brand ready to use collateral templates with your practice logo, contact details, colours and imagery to save you on additional costs, time and resource. Thereby, giving your business greater efficiency and bottom line savings. What s more, MDC offers you the flexibility to select your preferred output either through digital PDF or printed hard copies, with access to negotiated print rates. Attract.Retain.Refer. Attract.Retain.Refer. (ARR) is an online educational marketing program designed to help you master the art of marketing by attracting new clients, retaining existing ones and growing a referral-based business. The ARR program gives users the opportunity to earn CPD points on selected modules such as building a referral based business, client segmentation and social media. Whether you re the principal owner, adviser or part of the support staff team, this program can help anyone learn and build their marketing knowledge and apply it practically to benefit your business. 10 SELF LICENSED SOLUTIONS

11 Financial planning software Access is available at preferred rates to a range of financial planning software and tools to drive the efficient operation of your back office. Financial planning software (XPLAN) XPLAN is a comprehensive online financial planning and business solution, reducing administrative overheads, helping you to know your clients and maximising business opportunities to deliver complete and compliant financial solutions. XPLAN is a flexible financial planning software platform that scales to support any business model. Commission and fee collection (Commpay) With access to Commpay online for daily commission feeds and management reporting, you can accurately track your anticipated payments. Risk profiling (FinaMetrica) FinaMetrica s comprehensive financial risk tolerance test gives reliable in-depth insight into your clients financial attitudes, values, motivations, preferences and experiences. By making risk tolerance explicit and understandable, clients are more confident of the advice and committed to the planning process. Superannuation research (Chant West) Research and compare over 240 super products, including industry and public sector funds, master trusts and wrap accounts using Chant West research tools including Super Switching Tool, CorporateSuper Research, Personal Super Research and Super AppleCheck. SELF LICENSED SOLUTIONS 11

12 Contact us today To find out more information on how Licensee Select can help you build a better business, contact us today on IMPORTANT INFORMATION This booklet was prepared by BT Group Licensees ( BTGL ) and is current as at November BTGL includes Securitor Financial Group Ltd, ABN AFSL ( Securitor ), Magnitude Group Pty Ltd ABN AFSL ( Magnitude ), and Licensee Select who provide licensee services. BTGL is a business unit and part of BT Financial Group, which is a division of Westpac Banking Corporation ABN (Westpac Group). BT Financial Group is the wealth management arm of the Westpac Group. This booklet may contain financial product advice and has been prepared for use by financial advisers only. It must not be made available to any retail client and any information in it must not be communicated to any retail client or attributed to any company within the Westpac Banking Corporation. It must not be copied, used, reproduced or otherwise distributed or circulated to any retail client or third party. Please note, information in this booklet that has been provided by third parties has not been independently verified and neither Securitor nor any other entity in the Westpac Group is not in any way responsible for such information. You should not rely on any statement in the booklet as complete, accurate, up-to-date or fit for any purpose. Except insofar as liability under any statute cannot be excluded, BTFG and its directors, employees and consultants do not accept any liability for any error or omission in this document or for any resulting loss or damage suffered by the recipient or any other person. This booklet is an overview or summary only and should not be considered a comprehensive statement on any matter nor relied upon as such. It contains general information only and does not take into account your personal objectives, financial situation or needs. You should therefore consider whether information is this booklet is appropriate to you having regard to these factors before acting on it. Any taxation position described in this booklet is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice. The rules associated with the super and tax regimes are complex and subject to change and the opportunities and effects will differ depending on your personal circumstances. 12 SELF LICENSED SOLUTIONS LI lc