Financial Advice Online

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Streamlined financial advice without the gridlock.

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Share Financial Plan & Advice Documents in a secure Client Portal
financial advice online

After 10 years of developing financial planning software, Plencore Wealth Ltd, the creators of Financial Mappers, introduces a unique streamlined product.

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"Advice Online is suitable for companies who are Financial Advisers, Superannuation Funds, Wealth Platforms, Digital Banks and those in the Financial Literacy space." The product has been customised for Australia and New Zealand.
Glenis Phillips SF Fin,
Director
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A True Multimedia Financial Advice Experience

The dashboard provides 8 dials and an additional three interactive reports (Plan Map Illustrated, The First 5 Years and a Debt Management Summary).

The Fact Find includes an easy-to-complete table of information about their investments, homeownership and all their retirement accounts.

A further 10 PDF style reports, including the Insurance Needs Evaluation that can be completed by the client and returned to the adviser in the Client Connect Portal.

Simple Good Advice

Quality of Advice Review

The Quality of Advice Review recommends changes to the legislation that would provide Australians with high quality, affordable and accessible advice.

Our cutting-edge technology allows organizations to deliver simple, good advice to all Australians. It embraces the philosophy of Michelle Levy’s recommendations in the Quality of Advice Review.  Now the Financial Services Industry can fulfil the financial needs of all Australians.  For most, all they require is guidance from a person licensed to provide “Good Advice”.  This could simply be a road map to the future.

The Government has reviewed Michelle Levy’s recommendations and in early June released its first Government Response to the Quality of Advice Review on 13 June 2023.  

It appears that so far only 14 of the 23 recommendations have been accepted and these will be adopted in three streams.  However, the dates for financialization appear to be extended with every press release

As the recommendations are legislated, Advice Online will provide the opportunity to embrace the new regime quickly and effectively.  The Government has indicated that the Statement of Advice in its current format will be replaced with a Fit for Purpose Advice Record.

It has also indicated that a greater role will be played by Superannuation Funds. Advice Online is the perfect solution for Superannuation Funds.  They are facing the prospect of the Government forcing them to provide some form of advice to all members.  Unfortunately, there is little information on the form this advice will take and the fees the Superannuation Funds will be allowed to charge.

 

For those who do not wish to give Financial Advice until the government gives more clarity on the specifics,   Advice Online can be used to write Strategy Documents to be used as a pre-advice tool.

Strategy  Documents are intended for short simple recommendations where no advice is given for Insurance, Superannuation, or Financial Products.  These exclusions will reduce the time taken to develop and execute. They are intended for online low-cost general advice and as a lead generator for new clients.  The content can be more than general advice, as the client has provided information about their personal circumstances.

While the product was developed to provide simple advice, the software has the functionality to provide more complex and detailed advice when required.

Financial Advice Online

Financial Advice Online ensures that all sensitive information passed between adviser and client is within the client’s encrypted portal where a record of all communication is maintained.

NB: Each platform is fully customisable.

1. Consumers purchase digital financial advice from the Company’s website.

2. The client completes a Fact Find and notifies the adviser.

3. Based on the client’s objectives, and other information provided in the Fact Find, the adviser optimizes the financial plan, adding limitations and recommendations to automatically generate an Advice Document.

4. All stages of the process are stored in the client’s portal, where the client can view the details of the financial plan, and the Advice Document, together with educational content.

5. When completed the adviser publishes the advice.  The client then logs into their portal and reads the Advice Document.  In addition to this, the client has three multi-media interactive reports and an additional ten reports the client can download if required.

6. It is intended that this low-cost advice document will lead the way for the adviser to suggest additional advice should be considered for which the client would pay additional fees.  For example they may require assistance with obtaining better loans, help with choosing financial products or insurance advice.

Financial Advice Online

An Adviser Ratings survey found:

4-in-5 40s and early-50s told us they wanted financial advice but did not have the capacity to pay for it.  The figures were similar for retirees aged 75 and above.

Advice Online enables the adviser to service people wanting financial advice at a price they can afford, while the adviser grows their business.

 

Advice Online enables Superannuation Funds, to provide advice to their members.  However, they are waiting for confirmation of the type of advice they can give and the educational requirements of those giving rhe advice.

Financial Advice Online

Glenis Phillips, the designer of Advice Online will consult personally with each person interested in using the software for their company.  Find out how Advice Online can grow your business.

This software is for the exclusive use of companies holding a New Zealand or Australian Financial Services Licence. 

Only persons with the correct authorization can use this product.

It is anticipated that Dealer Groups or Financial Institutions will organize one platform for all their advisers.  However, larger financial planning groups, may elect to create their own platform.

Each company will be responsible for deciding all the parameters of the advice, including specific exclusions, together with the cost of each advice product which is paid online prior to delivery of the Advice Record and supplementary material.