The Wrap

The Wrap How to be cyber safe for financial planning firms How to be cyber safe in 5 easy steps The recent RI Advice Group case is a timely reminder of the importance of taking cyber security seriously. You can read a full version of the judgment here. But here is a condensed summary. The [...]

The Wrap New Design and Distribution Obligations (DDO) have arrived Breaking down the new Design and Distribution Obligations (DDO) On 5 October 2021, the new DDO came into effect. The obligations apply to issuers and distributors of financial products to retail clients. You can also refer to RG 274 by clicking here. What is the [...]

The Wrap Guide to Ongoing Fee Arrangements Breaking down the new legislation for ongoing fee arrangements On 1 July 2021, the Financial Sector Reform (Hayne Royal Commission Response No. 2) Act 2021 will come into effect. The new legislation introduces new requirements relating to ongoing fee arrangements and the relevant consents necessary to deduct ongoing advice [...]

The Wrap How to charge for life insurance advice Life insurance is such an important part of securing a client’s financial future. Here are some ideas on how to provide profitable, fee for service life insurance advice and a winning process. Charging for life insurance advice The key is to make your process compelling, valuable and [...]

The Wrap How to build a profitable financial planning firm Imagine your financial planning firm a few years from now. Your firm runs efficiently, your profit is increasing and your advice documents are prepared in minutes, not days. Those painful administrative tasks, which don’t add any value to your business, are now automated. Suddenly, you [...]

The Wrap How to choose financial planning software for your firm In recent times, many financial planning software solutions have come onto the market. With so many CRMs, client portals and digital fact finds now available, the choice can seem overwhelming. But it need not be. Here are some tips on how to find the [...]