Becoming a Financial Planner | Melbourne | InterPrac

Becoming a Financial Planner

For established financial planners

Have the influence of large financial institutions pursuing their own interests, rising compliance burdens and pressures of regulatory change taken the passion and the fun out of managing your financial advice practice?

At InterPrac Financial Planning, we understand your desire to assist clients in their endeavours to live their best life, as an outcome of the financial advice you provide. As fellow business owners, we want to do our best to enable you to live your best life too.

Our mission is to help you build your profitable, sustainable business. We understand the commercial realities of managing your practice and our aim is to provide practical solutions which improve your efficiencies.

Join InterPrac Financial Planning to retain ownership of your business, and receive a competitive fee structure and a supportive dealer group. With InterPrac you can be confident in your ability to deliver your clients quality advice and services.

“InterPrac Financial Planning provides a professional and inexpensive service that allows our practice to provide financial planning advice to our clients in the most efficient way. They can be involved in the financial planning service you provide as much or as little as you want them to be.” Tony Perkins of PDS Shaw

“Having worked under the InterPrac Financial Planning licence for over 2 years now, it is my experience that they have the unique ability to cater for the most discerning advisor. Their flexibility with regards to their Approved Product List, their ability to adapt to each individual adviser’s situation, and their speed of response to particular situations makes the overall experience of providing timely financial advice to clients so much easier. Having worked with the inflexibility of larger institutions, and the difficulty of establishing the necessary personalised lines of communications that are so critical when providing superior client service, I recommend InterPrac as a dealer who has successfully adapted to the ongoing changing environment of financial services advice.” Brian Mullins of McCabe Weston Financial Services

With InterPrac Financial Planning, it is not just your clients who will have peace of mind.

For accountant aligned financial planners starting your journey

The right advice can add certainty to your financial future. This is as true for you as it is for your clients.

You are in control of your practice. InterPrac Financial Planning offers you the flexibility to support you in your endeavours, working with you to help you deliver cost-effective financial advice.

InterPrac Financial Planning is endorsed by the National Tax and Accountants’ Association (NTAA). This gives you significant advantage as we are not aligned to any financial product provider, allowing you to give your clients quality advice and service without the bias of a restrictive approved product list or corporate culture.

As an accountant and financial planner, one of the most important decisions you need to make is what type of financial advice (e.g. products and services) you want to provide to your clients and what advice your clients want from you.

If you are looking to work with like minded professionals, or wanting guidance in developing a profitable and successful Financial Planning practice, InterPrac Financial Planning could be the right option for you.

“InterPrac Financial Planning have been extremely supportive of my endeavours to bring financial planning to my accounting clients, assisting me with everything from flexible training options and the development of marketing strategies, to keeping me focused on moving the financial planning side of my business forward when it can easily be pushed aside for my firms primary accounting focus. The team have always been happy to answer questions about products or discuss potential solutions for my clients when I need a sounding board and to provide assistance in reviewing my advice to ensure it meets their requirements if I head in a new direction. This high level of support has been invaluable to me as both a business owner and an adviser, and I would strongly recommend them to anyone looking for top notch support.” Tracey Hunter of Tinworth Business Solutions

“I have been Authorised Representative of InterPrac Financial Planning and associated with them since 2008. I am highly satisfied with their service offering but moreover, the support available to our business, being a sole practitioner accountant and investment advisor. Situated in rural Victoria this service definitely provides us with a competitive edge. The combined service offerings to accounting and adviser businesses is recommendable but moreover the friendly and helpful staff and the management of InterPrac has contributed significantly to the successes of our business.” George Nicholson of Dainbridge Nicholson

InterPrac Financial Planning, a quality option for NTAA Members.

 

 

Our Fee Structure and Offering

Our fees are based on providing your business with a quality service in a cost effective manner.

InterPrac will receive a minimum of $375 plus GST twice monthly (mid-month and month end), or a share of income based on the income split below, whichever amount is the greater.

The fee schedule is as follows:

$0 – $59,999 $375 plus GST twice monthly
$60,000 – $179,999 15% plus GST
$180,000 – $239,999 12.5% plus GST
$240,000 – $359,999 10% plus GST
$360,000 – $599,999 7.5% plus GST
$600,000 – $899,999 5% plus GST
$900,000 PLUS 3% plus GST

 

Additional Required Extras Included in our Offering

Compliance A culture of compliance is developed through a combination of induction, prevet process, education and ongoing CPD training, in addition to an annual audit visit undertaken by the InterPrac Financial Planning National Compliance Manager.
Continuing Professional Development You will be registered for online training with Kaplan Ontrack to assist you to accrue and record your CPD hours. InterPrac conducts an annual compliance/technical conference, and provides access to quarterly state based professional development days conducted by an independent third party. In addition, we regularly send you invitations to upcoming web based seminars addressing specific topics of interest.
Diverse Approved Product List A diverse approved product list managed by the Investment Committee includes ASX 300 shares (subject to research), all insurance providers and all product platforms.

Advice on direct shares must be underpinned by qualitative research obtained from a qualified source, such as a stock broker or analyst.

Managed funds must have an approved rating by Morningstar Research (a highly regarded independent research provider). However, we do look at research from other providers (such as Lonsec and SQM) if and when required.

Fee Processing Fortnightly processing of your fees, remuneration and/or commissions. We use industry leading software to manage the remuneration payments, together with our own payment gateway system, which accepts BPay, credit cards, EFT and cheque payments to track client payments against invoices issued.
Marketing Communication InterPrac provides access to 12 editions of newsletters annually. These include in-house investment based and accounting/tax adviser based client newsletters, and a quarterly “Prepare for Retirement” provided through an independent third party. You can brand these for distribution to your clients. (Once off set up fee for “Prepare for Retirement”).
Practice development and management We provide you with weekly practice management and marketing tips, new product opportunities and service ideas in addition to compliance education, market developments and legislative updates.

For those interested in undertaking this process, we also have practice management consulting and business coaching available, to help you get established, grow and build an action plan which includes both personal and professional development, as well as succession planning.

Research On-line research from Morningstar Research on managed funds, direct shares, LIC’s and ETF’s is available.
Stock Trading Set up of stock trading capability, so you can provide the service yourself (through Desktop Broker via Bell Potter, Macquarie Online, E-Trade or CommSec). You can use other providers at your preference such as Ord Minett, Macquarie or Morgan Stanley who provide additional advice and research support as well as the execution of trades.
Technical support Registration with Technical Support Hotlines with most product providers (including BT, TAL, AIA, Challenger, Macquarie, IOOF, Netwealth, AMP and Colonial to name a few) has been set up.
Templates Financial Planning templates and tools to make the completion of a Statement of Advice (financial plan) more time efficient. These are also coded for most software providers.
Professional Indemnity Insurance Access to our pooled and subsidised Professional Indemnity Insurance which is the only required additional cost to you.

Additional Optional Extras

Access to Exclusive Model Portfolios, Investment Platform and Group Life Insurance Exclusive InterPrac Financial Planning services which include – InterPrac Model Portfolios for actively managed low cost direct share opportunities for clients, Investor1st which is one of the lowest cost and technology savvy administration platforms in the market available for your clients plus Diversa which is a group life insurance pool providing significantly reduced life insurance premiums compared to retail products.
Access to Network of Services for Integrated Financial Services Offering Access to our in-house mortgage brokers, finance brokers, general insurance products, SMSF administration (www.smsfengine.com.au) and NTAA Corporate (www.ntaacorporate.com.au) for establishment of companies, trusts and super funds. These services are all provided at discount prices or generate a referral payment. You may choose to rebate referral payment to your client.
Paraplanning Para-planning services with our pre-vetted, quality, preferred paraplanners is an additional cost, on a per plan basis or hourly rate.
Software Software is at an additional cost, as you can choose to use any software you prefer. The costs will vary subject to the software you use and the modules you choose within it. We support Xplan, Midwinter and AdviserLogic plus Astute Wheel Client Engagement Software, which means you will have access to these at wholesale rates with all key documents coded for your benefit. You are not required to have software if you do not wish to have it. You can use the broad collection of such documents we have available including those of the software providers noted above, or alternatively, once approved by our Compliance Manager, you can use your own Fact Find and Risk Profile tools.

Once you join InterPrac, you will receive a Welcome Kit which incorporates compliance resources and example documents including the Compliance Manual and Certificate/s of Appointment. You will also be provided with access to our adviser website with templates and sample documents, tools and letters, easy to use calculators and a range of strategy text for writing your advice documents.

This is closely followed by an induction by telephone or in person, to help you get started. Going forward, we endeavour to ensure that whatever you may need in terms of service or support, we can provide you with a choice of possible solutions.

Joining InterPrac Financial Planning is easy

If you have visited the website and think this sounds like the type of licensee you are interested in, please contact our National Practice Manager, Michael Gershkov, phone 0438 776 666 or email michael.gershkov@interprac.com.au, or National Development Manager, Mark Ryan, phone 0423 580 578 or email mark.ryan@interprac.com.au.

We are more than happy to discuss any questions you may have about joining InterPrac because we want you to be sure we are the right fit for you and your practice.

The Representative Application form should be completed and forwarded to InterPrac Financial Planning via email or POST to PO Box 7626, Melbourne VIC 3004.