Adviser Licensee

The business model of The Complete Planner Pty Ltd includes the following:

Stationery

The financial Services Guide and Supplementary Financial Services Guide are provided free of charge as a “soft copy”.

The Complete Planner Pty Ltd has outsourced its printing requirements for authorised representatives. Quality personalised letterheads, business cards, with compliment slips etc. can be obtained at a competitive price.

However, if a representative would prefer to use their own printer, the artwork for all printing requirements must first be approved by the compliance team of The Complete Planner Pty Ltd.

Commission Administration

An efficient brokerage administration system is paramount to advisers for their cash-flow requirements. The Complete Planner Pty Ltd currently pays commission on the 20th of each month by direct credit to the authorised representative’s bank account. At the same time supporting statements (including RCTI), in both PDF & CSV format, are emailed to the authorised representative.

Compliance Manual

A comprehensive compliance and procedures manual is provided in both an “on line” format and “hard copy”. This allows easy access for each authorised representative wherever they are.

The manual covers the following areas:

  • Licensee responsibilities
  • Representative responsibilities
  • Investment advising procedures
  • Risk advising procedures
  • Complaints handling procedures
  • Legislation
  • Identification material
  • Standard Forms

Annual Representative Audit

Licensees have a legal responsibility to ensure that they are monitoring and supervising the activities of their representatives. Consequently, The Complete Planner Pty Ltd has contracted Associated Advisory Practices Ltd, a compliance specialist, to undertake audits on both the Licensee and representatives. Their approach is consultative and viewed as an educational tool rather than a policing or fault finding exercise.

The representative audit focuses on the responsibilities of the representative and the provision of financial advice and addresses the following issues:

  • Registers and record maintenance
  • Disclosure of identity and capacity
  • File management
  • Reasonableness of advice
  • Financial disclosure
  • Compliance with regulatory and licensee requirements

The representative audit entails the review of approximately four (4) client files and a “debrief” meeting with the representative.

A report is then compiled for the Licensee.

Ongoing Compliance Consulting Programme

The Complete Planner Pty Ltd is committed to the development, implementation and continual improvement of compliance standards. It embraces a culture of compliance for all its business activities and strives for business practices that incorporate best practice measures. Both the Licensee and representatives face a continual challenge to keep pace with legislative changes and that their advice reflects best practice.

Consequently, The Complete Planner Pty Ltd contracts Associated Advisory Practices Ltd to ensure that its compliance requirements are appropriate and that its authorised representatives are kept up to date with legislative changes which relate to their activities as representatives of the Licensee.

Ongoing Training

To meet its training obligation under s912A of the Corporations Act 2001, The Complete Planner Pty Ltd has designed its Continuing Professional Development programme so that authorised representatives not only meet their ongoing training requirements, but for those who are members of various industry bodies (eg FPA) are able to meet their membership requirements for Ongoing Professional Development.

The Continuing Professional Development programme is in two formats:

  • Ten (10) Monthly Video & Workbooks provided by Kaplan Education Pty Ltd (February to November) together with four (4) quarterly workshops
  • Various technical/product workshops conducted by Associated Advisory Practices Ltd

Each monthly workbook includes a multiple-choice assessment. The assessment questions are marked by Kaplan Education Pty Ltd and a Certificate of Achievement is issued annually to participants.

Attendees of the technical/product workshop will receive a Certificate of Attendance.

Risk Research

To ensure that authorised representatives have appropriate risk research (both qualitative and quantitative) to support their risk advice recommendations, The Complete Planner Pty Ltd has IRESS Wealth Management Pty Ltd as its preferred research and software provider.

IQM+ is one of the leading research tools for life insurance products in the Australian Market. The software offers qualitative and quantitative research, client modelling and regular updates.

However, an authorised representative may prefer another provider which offers complying software for Risk Insurance. In which case, any difference in the subscription costs will be met by the authorised representative.

Financial Planning Software

The preferred financial planning software package for The Complete Planner Pty Ltd is n-link financial planning, described as state-of-the-arc software. No more software updates or downloads required. All you need is an internet connection, n-link software installed and your personal access code.

It provides the flexibility and customisation tools for all types of reports, including Statement of Advice and Portfolio Review.

There are handy stand alone calculators to assist with planning. For example, CGT, Centrelink, Gearing and Allocated Pensions.

Your client data will be protected by the same robust security system that is used by Navigator Administration System. This includes regular back-up processes, which protect the data in the event of a disaster. All data that is transferred via n-link is protected by 1024-bit encryption.. A better level of data security than used by most financial institutions worldwide.

However, an authorised representative may prefer another provider which offers complying software for financial planning. In which case, any difference in the subscription costs will be met by the authorised representative.

Management and technical support

The director of The Complete Planner Pty Ltd is a Certified Financial Planner with many years practical experience. As a “hands on” manager he offers authorised representatives support in the advice process to clients by assisting with strategy options or technical support.